Manhattan $5M+ Luxury Sales: January 2026
Manhattan’s luxury market sees a solid start to the year.
Inventory continued to decline, average marketing times fell, and average price per square foot rose versus 2025.
January 2026 saw 69 contracts over $5M, up 3% year-over-year.
This was the second-strongest January in 10 years for contracts above $5M.
Active listings fell 17% year-over-year.
$5M+ active listings fell to 732 — the lowest January total since 2013.
Days on market declined 33% year-over-year.
Resale co-ops and new developments led the overall drop this month, with each product type posting double-digit annual declines.
Average asking price per square foot rose 16% annually to $3,442.
New development contracts asking over $4,000 per square foot, particularly on the Upper East Side, drove the annual increase.
