Newly reduced listings that received price drops between October 6-12, 2026

The week of October 6-12, 2026, had 260 active listing price cuts, down from 285 the prior week. However, the reductions gravitated towards the high-end. The median asking price after cuts rose to $1.113 million from $875K, while the median cut increased to $70K from $50K, and the median percentage reduction climbed to about 6.2% from 4.6%. Reductions were most concentrated on the Upper East Side, Midtown West, Murray Hill, and Gramercy Park.

Condos led with 127 price cuts, followed by 111 co-ops, 10 condops, 9 townhouses. About 73% of all reductions were on homes asking under $2 million, down from roughly 77% the prior week, more evidence that this week's activity tilted towards pricier inventory. One-bedrooms still accounted for the most cuts with 102, followed by 59 two-bedrooms and a notably higher 49 three-bedrooms, up from 28 the week before.

The biggest discounts were concentrated at the very top of the Upper East Side market. A full-floor home at 640 Park Avenue was reduced by $5 million to $19.995 million, followed by 9 East 63rd Street, cut $4.045 million to $24.95 million.At the other end of the spectrum, the week's largest percentage reduction belonged to One Pierrepont Street #1A, which fell 33.3% from $1.5 million to just under $1 million. Last week's largest dollar cut was $1.25 million while this week's was just over $5 million. So, while there were fewer reductions overall, sellers at the high-end appear to have become considerably more aggressive. Perhaps due to the reality that the second-home tax on high-end homes is not going away.