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 - 08/24/2026
The Luxury Sector:
Fifteen contracts were signed last week. Inman hadn’t had $4 million and above, three fewer than the previous week. Condos outsold co-ops 8–4, with three townhouses in the mix. The dog days of summer continue to weigh on the Luxury market–as they always do. For perspective, the 10-year average for the third week of August is just 17 contracts signed, so last week’s total of 15 was not far off historical norms. The No. 1 contract signed last week was a townhouse at 111 E. 81st St., asking $13.995 million, reduced from $15 million when it was listed in May. The No. 2 contract was unit 5A at 36 Bleecker St., asking $11.5 million, reduced from $12.35 million when it was listed in April.
Overall City/Market Supply:
There are currently 4,674 listings on the market trying to sell. Overall listing supply is down 4% a week-over-week and an astonishing 20% lower than this time last year. Another interesting point is that of all the listings currently on the market, 59% have been listed for 90+ days and are considered “stale listings.” That leaves buyers with extremely limited selection of fresh inventory to choose from. Looking at the weekly numbers, 104 new listings came to market last week, down 22.4% from the week before. Again, this is not the time of year when we should expect a lot of new inventory to hit the market, but these current levels are notable: Manhattan’s inventory is now at its slowest in the past five years.
Liquidity Pace (The 30-Day Pace of Buyer Demand):
This week, the 30-day pace of buyer demand checked in with 771 apartments put into contract over the rolling 30-day. That is 12.8% lower than last month and, more notably, 11% lower than this time last year. The market is slowing down, as it seasonally does, but this summer’s in-contract pace is now running more than 10% below last year’s levels. However, it’s important to keep this in perspective. This is traditionally one of the slowest times of year for activity, making it difficult to use the current numbers as a true barometer of the overall health of the market. We will have to wait until the fall market gets underway to see how contract activity responds–and whether their buyers return and meaningful numbers. Looking at the weekly numbers, 175 apartments went under contract last week, up 1.8% from the week before, but still 16.7% lower than the same week last year. Again, some of this is to be expected for this time of year, so it’s difficult to determine whether we are seeing a broader market trend or simply the normal summer slowdown. We probably won’t have a clear understanding until the fall market gets underway.
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.
