Manhattan $5M+ Luxury Sales: August 2026
$5M+ contract activity was above the historical average for August.
Versus 2025, inventory continued to decline and marketing times rose.
August 2026 saw 52 contracts above $5M, up 13% year-over-year.
Double-digit annual percentage gains in resale condo and resale co-op contracts drove the increase.
Active listings hit a 12-year August low.
Listed inventory fell 2% annually to 737 units and has now declined annually for over two consecutive years.
Days on market increased by 8% (nearly three weeks) annually.
All product types posted double-digit annual gains in average marketing time.
Average asking price per square foot fell 6% year-over-year to $3,188.
The annual decline was driven by a double-digit drop in resale co-op price per square foot.
