Manhattan $5M+ Luxury Sales: May 2026
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.
May 2026 saw 90 contracts above $5M, down 5% year-over-year.
However, $5M+ contract activity remained 10% above the historical May average.
Active $5M+ listings fell to a 12-year May low.
The 874 active listings represented an 8% year-over-year decline.
Days on market fell by roughly three months annually.
The sharp 42% drop reflected fewer contracts with marketing times exceeding one year compared to a year ago.
Average asking price per square foot fell 4% year-over-year to $2,775.
This was the first month the average was below $3,000 per square foot since September 2025.
