Between the changing leaves, Thanksgiving plans, and the dust settling after a highly charged election season, this feels like a natural moment to take stock. While the headlines stirred plenty of anxiety, the data on the ground tells a far more optimistic story. Manhattan’s market is quietly but clearly regaining its momentum.
This fall, Manhattan demand is up 10.4% year over year, marking a meaningful shift out of the sluggish, range-bound activity we saw over the past few years. Buyers who paused earlier in the year are back with intention, particularly in the luxury and family-sized segments.
Supply remains steady at approximately 6,800 active listings, slightly below the historical average. What is increasingly scarce is quality inventory. Renovated homes, trophy properties, and prime Upper East Side residences are drawing the strongest interest and competition.
Signed contract activity is now up 9.6% year over year, the highest level we have seen since 2022. During election week alone, 41 contracts above $4M were signed, the first 40-plus luxury contract week since May. The majority of those deals were signed after Election Day, a powerful vote of confidence in New York itself. No matter who runs it, New York will always be New York.
We are also seeing a real behavioral shift in select segments. Listings that had lingered are now moving, and in some cases, multiple-offer scenarios are returning. The market feels engaged again.
Advice For Buyers: Be prepared and act decisively. The best homes are moving quickly, especially turnkey properties in prime locations. Supply is expected to remain limited through 2026, reinforcing the importance of timing and readiness.
Advice For Sellers: Pricing and presentation matter more than ever. Well-positioned listings are being rewarded with strong demand and competitive offers. While a few active weeks remain before the holidays take over, buyer activity is expected to gradually lighten.
Warmly,
Steven Cohen and the Team
Market Snapshot
Signed contract activity is now up 9.6% year over year, the highest level we have seen since 2022. During election week alone, 41 contracts above $4M were signed, the first 40-plus luxury contract week since May.
