Manhattan $5M+ Luxury Sales: October 2026
$5M+ contract activity declines annually but remains above historical levels.
Versus 2025, inventory and marketing times fall.
October 2026 saw 80 contracts above $5M, down 11% year-over-year.
However, contract activity was 18% above the 10-year October average.
Active listings fell annually to the lowest October level since 2015.
Listings over $5M have declined year-over-year for 9 of the last 10 months.
Days on market dropped by 45% (nearly 13 weeks).
Average days on market this month was 51% below the 10-year October average.
Average asking price per square foot declined 9% year-over-year to $2,978.
The yearly decrease was driven by fewer ultra-luxury sales, with just one new development contract above $5,000 per square foot this October compared to four a year ago.
