Market Intelligence
March 2026

Manhattan saw 1,066 contracts signed in March, down 2% year-over-year and 8% below the ten-year March average, although sales were up 20% versus February per typical seasonality. Co-op contracts declined 1% annually, while condo sales fell 3%. Marketing times quickened slightly to 121 days, down 1% year-over-year.

Contracts between $2M and $3M posted the only gain, up 11% year over year, supported by solid resale condo and new development activity. Sales above $5M declined 7% annually. The Upper East Side was the only submarket with an annual sales gain, up 13%.

Manhattan contracts signed above $5M fell 7% year-over-year but rose 10% from February to 95 sales. Resale co-ops were the only product type to post an annual gain, up 22%. Active listings above $5M fell for the twentieth consecutive month, declining 8% to a 12-year March low of 763 units. Average days on market declined to 217, down 8% year-over-year.

Average price per square foot held steady at $3,161, level year-over-year but down 20% versus February's seven-year high. The Upper West Side posted a notable 25% increase in average PPSF thanks to new development activity.

Brooklyn signed contracts declined 10% year-over-year, marking the ninth annual decrease in the past twelve months. The number of contracts was 23% below the five-year average for March. However, activity was up 24% versus February 2026. The $2M to $3M segment was the only price category with an annual increase, up 20%.

Days on market decreased to 79 from 81 last year. With the rise in inventory, newly listed residences absorbed quickly, making this the second-shortest marketing time observed over the past 16 months.

Data sourced from The Corcoran Report, March 2026. Published by The Corcoran Group, a licensed real estate broker owned and operated by Compass International Holdings. All material is intended for information purposes only.