Manhattan Condo Prices Near Record High as Supply Tightens

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 $1,768 per square foot, up slightly from $1,749 in 2024. So far in 2026, the average has risen to approximately

Most Manhattan submarkets have posted year-over-year gains, led by the Upper West Side, where the average condo price is up sharply from 2025 (helped largely by 50 West 66th Street and The Henry). Downtown, the Upper East Side, and the Financial District are also higher year over year, while Midtown and Upper Manhattan remain below last year’s averages. Over the past decade, however, Manhattan condo price growth has been relatively subdued, with the boroughwide average essentially unchanged against its 2016 level as new supply, rising carrying costs, and increased competition from Brooklyn and Queens have tempered appreciation.

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