Average Price Per Square Foot on Manhattan Condos by Market Area

The chart tracks all arm’s-length resale and sponsor condominium sales in Manhattan since 2003, not adjusted for inflation. In 2025, the average condo closing price was $1,769 per square foot, up from $1,749 in 2024. So far in 2026, the average has ticked up further to $1,778 per square foot, still tracking close to its record highs of 2016 and 2019.

Manhattan market areas remain mixed year over year. The Upper West Side is again the strongest gainer, up from $1,789/SF in 2025 to $1,857/SF so far in 2026. The Upper East Side and the Financial District are also higher. Midtown has turned negative on the year, down from $1,796/SF in 2025 to $1,745/SF so far in 2026, and Upper Manhattan continues to soften as well. Downtown is running slightly above its 2025 level.

Over the past decade, Manhattan condo price growth has been subdued, with the borough-wide average essentially unchanged against its 2016 level, as new supply, rising carrying costs, elevated mortgage rates, and increased interest in Brooklyn and Queens have tempered price appreciation.

Since the pandemic, a slowdown in Manhattan’s new development pipeline, combined with an outsized supply of high-end product, has contributed to renewed upward pressure in average prices. At the same time, limited rental supply and elevated rents may be supporting condo demand by making ownership more attractive.