Manhattan Condo Prices Approach Record Highs as New Supply Grows More Scarce

The chart tracks all market-rate resale and sponsor condominium sales in Manhattan since 2003 (not adjusted for inflation). In 2025, the average closing price reached $1,769 per square foot, up slightly from $1,749 in 2024. 2026 figures show the average condo price is approaching an all-time high, driven in part by lower supply of mid-market developments and super-luxury closings skewing averages.

Most Manhattan submarkets have seen year-over-year gains, with the exception of Upper Manhattan. Over the past decade, average condo price growth has been relatively subdued, as a steady pipeline of new supply, rising carrying costs, and increased competition from Brooklyn and Queens markets have tempered Manhattan appreciation.

Since the pandemic, a slowdown in the new development pipeline, with outsized focus on the high-end segment has contributed to the current upward pressure on prices.