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 - 10/12/26
The Luxury Sector:
Last week, twenty-five contracts were signed in Manhattan at $4 million and above, which is five fewer than the previous week. Condos outsold co-ops, 15–7, with three townhouses included. After a slow September, October has picked up the pace: in the first two weeks, 55 contracts were signed compared to 54 last year. The 10-year average for the first two weeks in October is 47. The No. 1 contract signed last week was PH at 111 Tyrrell Park Ave, asking $24.495 million (reduced from $26.75 million when listed in January). The No. 2 contract signed last week was a townhouse at 67 Charles, asking $22.5 million (reduced from $25 million when listed in April).
Overall City/Market Supply:
There are currently 6,101 listings ready to sell. Overall listing supply increased by just 1.2% week-over-week, a relatively small increase. However, the key takeaway for this fall market is that overall inventory remains about 10% below the same time last year. On a positive note, fresh inventory is still entering the market, although it appears we’ve already seen the peak of new listing activity for the fall season. Expect overall inventory to begin declining as we move deeper into the fall market and closer to winter. Another important factor to consider is that roughly 50% of the current inventory is considered “stale,” meaning it has been on the market for 90+ days. Coupled with already low overall supply, the selection of fresh inventory available to buyers is even more limited. So while there may be 6,101 listings on the market, the number of newer listings buyers have to choose from is significantly smaller. Looking at the weekly numbers, 342 apartments came on the market last week, down 13.6% from the week before. While that’s still a healthy number of new listings for this time of year, it was 11.9% lower than the same week last year. Another factor for buyers to contend with is that listings are beginning to come off the market. Last week, 126 apartments were taken off the market unsold; expect that number to increase as we approach the holiday season and the end of the fall selling season.
Liquidity Pace (The 30-Day Pace of Buyer Demand):
Over the rolling 30-day period, 668 apartments went into contract. It looks like, right on cue, the second half of our fall market is falling into place. The contract-signing pace is up 11% week-over-week and is finally starting to gain momentum as we move into the second half of the 2026 fall selling season. Interestingly, contract signings are still 16.5% lower than this time last year, likely due to several factors including historically low inventory, elevated interest rates, and broader global economic concerns. So, while the market is showing signs of improvement, it still has some ground to make up compared to last year. Looking at the weekly numbers, 195 apartments went into contract last week, up 7.1% from the week before. Arguably, this is the most important statistic to watch: how quickly buyers are putting properties into contract on a weekly basis. And right on cue, that number is beginning to rise, following the normal historical cadence of the fall market. However, the weekly contract-signing pace is still 6.7% lower than the same week last year. Look for this indicator to continue climbing over the next several weeks. With the later Labor Day weekend, the Jewish holidays, and other interruptions delaying the start of the fall season, there is reason to believe that this year’s contract-signing market should have some additional “legs” extending deeper into November than usual.
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.
