The New York City Weekly Real Estate Update
Real Estate Guidance You Can Count On!
Below, you’ll find my weekly market update along with information about the market and myself. Please don’t hesitate to reach out with any questions — I’m always here to help.
The Weekly Manhattan Market Report - 05/18/2026
The Luxury Sector:
Thirty-eight contracts were signed last week in Manhattan at $4 million and above, two more than the previous week. Condos continued to dominate. They outsold co-ops 26–7, with five townhouses in the mix. The Luxury market remains impressively resilient, registering 30+ contract signings, seven of the last eight weeks. Year-to-date, the Luxury contract activity is running 3.7% ahead of the same period last year, underscoring continued strength at the high end, despite broader market headwinds. The top contract of the week was PHA at 255 77th St., asking $25.77 million. The No. 2 deal was a townhouse at 146 Waverly Pl., asking 23.5 million, after being reduced from 24.5 million when it was listed in September. The takeaway: the Luxury market continues to outperform, even as the broader market adjusts to lower inventory and seasonal slowdown.
Overall City/Market Supply:
Currently, there are 6,676 listings on the market trying to sell–virtually unchanged week over week. Supply has been running at a deficit all spring, and last week was no exception. Overall inventory remains 8.8% lower than this time last year. Historically, Manhattan listing supply peaks around 7,500 listings in mid-May before beginning its steady decline into the summer. This year appears to be following the same seasonal arc, but from a much lower starting point. In fact, overall inventory has been running at a five-year low throughout much of the spring market. Looking at the weekly numbers, 431 new listings came to market last week, a 5.1% increase from the prior week. While that’s a modest bump, the broader trend suggests weekly supply is beginning its typical seasonal slowdown as we move closer to summer. Expectations are that both overall inventory and weekly listing volume will gradually decline from now through Labor Day–marking the beginning of the long seasonal fade. Adding to that, 250 apartments were taken off the market unsold last week, a 60% jump week-over-week. That is notable but also expected as the overall market slows for summer.
Liquidity Pace (The 30-Day Pace of Buyer Demand):
There are currently 1,099 listings that have gone into contract over the last 30 days, 5.5% higher than this time last year. Notably, this marks the ninth consecutive week that the rolling 30-day pace has remained above the 1,000-contract threshold. What's interesting this spring is that we haven’t seen the typical pattern of low -> moderate -> peak-deal volume. Instead, we’ve experienced a steady, elevated pace of buyer activity throughout the season. That’s happened despite historical low inventory–or perhaps, in part, because of it. As John Walkup of UrdanDigs put it, “we’ve seen a nice sustained pace at an elevated level.” Looking at the weekly numbers, 254 apartments went into contract last week, a 3.3% increase week-over-week–another solid showing heading into Memorial Day weekend and the unofficial start of summer. The bigger question now is whether the market can’t sustain this elevated pace of contract activity–both monthly and weekly–as we move deeper into the summer months, only time will tell.
About Dylan Hoffman
Dylan Hoffman
With a stellar track record of success spanning over two decades, Dylan Hoffman has become one of the most well-regarded brokers in New York City real estate. Known for his deft ability to simplify complicated transactions, stay abreast of the ever-evolving marketplace and connect with his clients in a meaningful way, he's a powerful resource for buyers, sellers, renters and investors. It's no surprise that his dynamic approach has driven The Hoffman Team at Compass to the upper echelons of New York City success: The team ranked No. 4 in transactions and No. 11 in dollar volume according to WSJ/REAL Trends.
As a New York real estate investor himself, Dylan is ever-mindful of the fact that he's dealing with his clients' most prized assets, which drives his laser-focus on maximizing value. He's assembled an extensive local network, and he provides expert guidance in everything from securing financing and legal advice to finding the best architects and contractors. From the initial consultation to the closing table, Dylan is a trusted advisor, skilled negotiator and expert broker ready to help clients exceed their unique real estate goals.
A California native, Dylan studied theater at California State University, putting himself through college and an acting conservatory with a multitude of roles in commercials, on television and with national touring companies. Today, Dylan resides on the Upper West Side with his wife and two children. In his free time, he can be found with his family, enjoying Central Park or exploring Manhattan on a CitiBike.
