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 - 02/15/2026
The Luxury Sector:
Thirty-one contracts were signed last week in Manhattan at $4 million and above, five fewer than the previous week. Condos dominated, outselling co-ops 22 to 4, with five townhouses also in the mix. Notably, 10 condos traded at $10 million and above, and half of those surpassed $20 million, underscoring the continued strength in the ultra-luxury segment. The top two contracts were both at 1122 Madison Ave., where the average price per square foot is an impressive $7189. Since launching off of floorplans on January 15–-selling from a private office at Club Colette in the GM building—the boutique 26 unit condominium has already secured 16 contracts, representing more than 60% of the building. The offering plan has been amended four times, reflecting upward price adjustments. The No. 1 and No. 2 contracts last week were the 18th floor at 1122 Madison Avenue, asking $39 million, followed by the 16th floor, asking $36.5 million.
Overall City/Market Supply:
There are currently 5,318 listings on the market, representing 4.7% less supply than this time last year. Inventory increased by just 5 units week-over-week, offering little relief for buyers navigating an extremely tight market. That said, expected listing volume to begin ramping up more meaningfully in the latter part of February. Over the past week, 260 new listings came to the market, a 22.3% decline from the prior week. With the Presidents’ Day holiday and public schools on winter-break this week, this period tends to produce a stop and start, somewhat “herkey–jerky” pattern for new inventory. Weekly numbers may remain uneven in the short term, but the broader trend should be toward increasing supply as we move closer to the spring market.
Liquidity Pace (The 30-Day Pace of Buyer Demand):
Over the past 30 days, buyers have put 758 listings into contract, a 5% percent increase from last week. What makes this notable is the shift from late December, when contract activity was running 7% above year-over-year levels; today, the pace sits at roughly 5% low below this time last year. That said, it’s still early in the year, and it’s too soon to draw firm conclusions about how the spring market will ultimately perform. On the weekly front, 228 apartments went into contract last week–an impressive, 62.3% jump from the prior week. That surge aligns with anecdotal "water-cooler" chatter about strengthening buyer activity and may signal the early stages of the spring market rather than just a temporary winter bump. The coming weeks will tell us whether this momentum is sustainable.
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.
