Inhabit by Corcoran

Manhattan contracts reach a five-year October high.

Price per square foot rises as negotiability tightens.

Manhattan saw 1,113 signed contracts this October, up 4% year-over-year and 12% above the 10-year October average. This was the strongest October since 2021.

• Buyers also inked contracts faster than last year or a typical October, with average days on market falling 11% annually and 3% below the 10-year average to 118 days.
• Compared to last October, condo contracts rose 8% and co-op sales increased 2%. The $3M to $5M price range saw the largest annual gain, surging 48% due to strong resale activity.
• The high-end also performed well, with contracts over $5M rising 13% year-over-year.
• Most submarkets posted annual sales growth, except for the Financial District / Battery Park City and the Upper East Side. Upper Manhattan stood out with a 40% annual gain, fueled by activity under $1M.

Manhattan had just under 6,800 active listings in October, up 5% year-over-year and 4% versus September.

• This was the second consecutive month with an annual increase, which hasn’t happened since August 2024.
• Despite the uptick, listed inventory remained 7% below the 10-year October average.

Average price per square foot was $1,978, up 11% from September and 3% annually.

• The overall gain was driven by ultra-luxury contracts on Billionaires’ Row asking over $5,000 per square foot. Excluding these sales from October 2025 and a year ago, the overall average was just over $1,800 — down 4% annually.
• Notably, co-op price per square foot rose 19% year-over-year to a six-month high, boosted by high-end resales near Central Park. Note: Eighty Clarkson, which launched in March 2025 with average pricing above $5,000 per square foot, is excluded from this report, as it is not publicly disclosing contracts.

Negotiability tightened in October.

• Based on Corcoran contracts reported during the month, the average discount off last asking prices was -2.3%, less of a discount than last year or September. Versus last ask, condos averaged -2.1% and co-ops averaged -2.5%. About 65% of contracts were signed below their last asking price, down from 73% a year ago.