Here’s what happened during Manhattan’s first quarter of 2026:
- Manhattan entered 2026 from a position of strength. Closings rose 1% year over year to 2,757, the sixth consecutive quarter of annual sales growth and the strongest first quarter since 2022.
- Inventory remains one of the biggest constraints, especially on the new development side. Active inventory fell 2% YOY to just over 6,000 units, which is a five-year low for a first quarter.
- Strong luxury demand and that supply constraint is part of what’s driving pricing. Median price increased 9% YOY to about $1.28 million, and price per square foot rose 4% to $1,972.
