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 - 07/13/26
The Luxury Sector:
Twenty-nine contracts were signed last week in Manhattan at $4 million and above, 14 more than the previous holiday-shortened week following Independence Day weekend. Condos outsold co-ops 19–6, with four townhouses in the mix. While overall contract activity rebounded nicely, the Luxury market skewed towards the lower end of the high-end market. 20 of the 29 contracts were priced below $6 million, and only one property traded above $10 million, marking the lowest weekly trophy-property totals since the last week of December. The No. 1 contract signed last week was unit 14N at 1122 Madison Avenue, asking $21.75 million after being raised from $20.75 million when the building began marketing in January. The No. 2 contract was unit 7AB at 257 W. 17th St., asking $9.995 million, reduced from $11.75 million when it first came to market in September. The takeaway: while overall Luxury activity bounced back after the holiday week, the ultra-Luxury segment took a breather, with demand concentrated in the lower end of the $4 million-plus market.
Overall City/Market Supply:
As of last Friday, there were 6,270 listings on the market ready to sell. That is 7.2% lower than last month and 8.7% lower than this time last year. There are really no surprises here. Manhattan inventory was down another 1.7% week-over-week, and expect inventory to continue declining as we move deeper into the summer months. Historically, we don’t see meaningful new supply return until after Labor Day and the start of the fall season. The more interesting story is that inventory has remained well below last year's levels all season long, a trend that continues to define the Manhattan market. Looking at the weekly numbers, 211 new listings came to the market last week, a 6.6% increase from the prior week, which was shortened by the Independence Day holiday. That week-over-week rebound is typical, but it’s worth noting that new listing activity was still 24.9% lower than the same week last year. Meanwhile, 168 apartments were taken off the market last week, down 35.6% from the previous week. Even so, another meaningful chunk of inventory has been removed as sellers opt to wait out the summer doldrums and prepare to relist in fall.
Liquidity Pace (The 30-Day Pace of Buyer Demand):
Looking at the 30-day pace of buyer demand, 1,005 properties went into contract over the last 30 days. While that is still 4.4% higher than this time last year, it’s down 10.3% month-over-month, which is expected as we move into the summer months. The more notable statistic is that the rolling 30-day pace declined 6.9% week-over-week. Looking at weekly numbers, 178 apartments went into contract last week, down 23.6% from the prior week. That pulled the weekly contract-signing pace below last year's levels for the first time since March. At the moment, weekly contract activity is running 6.3% lower than the same week last year. Despite last week's decline, one week does not make a trend. We’ll have to see how the rest of the month unfolds to determine whether this is simply a seasonal slowdown or the beginning of a more sustained cooling In contract activity.
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.
