Manhattan $5M+ Luxury Sales: February 2026
Manhattan luxury market remains active early in the year.
Inventory continued to decline, average marketing times rose and average price per square foot increased versus 2025.
February 2026 saw 86 contracts over $5M, up 1% year-over-year.
This was the third-strongest February in 10 years for contracts above $5M. In addition, this was the second consecutive annual increase in activity over $5M.
Active listings fell 12% year-over-year.
$5M+ active listings fell to 746 — the lowest February total since 2015.
Days on market increased 16% year-over-year.
New developments and resale condos led the overall increase this month with each product type posting double-digit annual gains.
Average asking price per square foot rose 35% annually to $3,976.
New development and resale condo contracts asking over $6,000 per square foot, particularly on the Upper East Side drove the annual increase.
