Inhabit by Corcoran

If this quarter proved anything, it's that Manhattan buyers remain remarkably confident — but the market is also beginning to show the early effects of the new pied-à-terre tax. While overall contracts climbed to a four-year high, activity above $5

Much to the frustration of tenants, Manhattan’s median rent reached yet another new all-time high in May, hitting $5,125 as demand continues to outpace a persistently constrained supply environment. Brooklyn has also reached a new all-time high for rents, with

Sales activity softens annually but marketing times still shorten. Inventory continues to rise as average pricing reaches new highs.

Contract activity rises annually, outpacing the historical average. Listed inventory and average price per square foot both declined annually.

Manhattan’s luxury activity dips annually but outpaces the historical May average. Inventory continued to fall year-over-year, marketing times dropped sharply, and average price per square foot declined.

Manhattan’s rental market surged in April 2026, as a sharp rise in demand collided with increasingly constrained supply, pushing the borough’s median rent to a new all-time high of $5,099. Brooklyn also saw a strong month, with leasing activity climbing

Sales activity softens annually but marketing times still shorten. Inventory continues to rise as average pricing reaches new highs.

Contract activity and average days on market moderate annually. Listing inventory reaches multi‑year low and average price per square foot declines

Manhattan’s luxury market stays active despite an annual percentage decline. Inventory continued to drop, marketing times declined, and average price per square foot held steady.