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 slightly from $1,749 in 2024. So far in 2026, the average has edged up to $1,776 per square foot, about 2% below the 2019 record of $1,814 and just under the roughly $1,800 plateau the market reached in 2016, 2022 and 2023.

Four of six submarkets posted year-over-year gains. The Upper West Side led by a wide margin, up 3.5% to $1,852 per square foot, helped by closings at The Henry and 50 West 66th Street. Midtown (-2.7%) and Upper Manhattan (-4.0%) remain below last year’s averages.

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, 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.