NYC Real Estate Market Reports
Manhattan Monthly Report
June 2026 | Condos & Co-ops
June 2026: The Best June for Manhattan Sales in Four Years
Manhattan recorded 1,150 signed contracts in June, up 13% year over year and 13% above the ten-year June average. This was the strongest June for contract activity in four years and the largest annual percentage gain since December 2024. Both product types contributed: condo contracts rose 9% year over year and co-op contracts rose 16%. Buyers moved quickly. Average days on market fell about a week versus last year to 105 days, which also ran 11% below the historical June average. Every submarket posted annual gains. The direction in Manhattan is clear and has been for several months now.
Broad Strength Below $5M. The Very Top Slipped Slightly.
All price segments under $5M posted year-over-year gains in June. The under-$1M range rose 10% to 479 contracts. The $1M to $2M band grew 22% to 333 contracts, the strongest annual gain of any segment below $5M. The $2M to $3M range rose 5% to 142 contracts. The $3M to $5M segment climbed 27% to 118 contracts, supported by strong resale activity downtown and uptown. Contracts above $5M fell 6% year over year to 78 deals, five fewer than June 2025. That decline is worth noting but not alarming: the over-$5M segment still ran 4% above its ten-year June average. The market is not losing its appetite for luxury. It is simply operating from a thinner pool of available product at that price point.
Co-ops Rose 16%. Inventory Fell for the Sixth Consecutive June.
The co-op market's 16% annual gain in June is a meaningful number. Co-op contracts have been the steadier performer in Manhattan all year, and June extended that pattern. Active listings totaled 7,182 units, down 2% year over year, the sixth consecutive annual decline and the lowest June inventory level since 2017, excluding 2020. Condo inventory was flat year over year at 3,831 listings. Co-op inventory fell 5% annually to 3,351 listings. With fewer properties to choose from and buyers clearly motivated, the conditions favor sellers who price correctly. Properties are not sitting. Days on market are running two weeks below the historical June average.
Price Per Square Foot Fell. The Explanation Matters.
Average price per square foot fell 3% year over year to $1,856. The co-op figure rose 8% to $1,384, though Corcoran notes this is based on only 30% of co-op sales for which square footage was reported, making the number less reliable as a trend indicator. The condo figure fell 5% to $2,054, driven largely by a shift in the sales mix: contracts asking above $2,000 per square foot made up 26% of June condo activity, down from 35% a year ago. Inventory constraints in prime areas are limiting the supply of ultra-high-end condo product coming to market, which pulls the average down without reflecting actual price softening in those properties. This is a composition effect, not a pricing decline.
Where Manhattan Buyers Showed Up in June
Downtown led all submarkets in volume with 373 contracts, up 19% year over year. The borough's most active corridor continued to draw buyers across price points, with both resale and new development contributing.
The Upper East Side recorded 282 contracts, up 13% year over year. A double-digit annual gain in one of Manhattan's most consistent submarkets reflects sustained demand from a buyer pool that knows what it wants and is prepared to act.
Midtown posted 190 contracts, up 15% year over year. The second consecutive month of strong Midtown results. Buyers who had been cautious about Midtown's longer-term trajectory appear to be re-engaging.
The Upper West Side came in at 193 contracts, up 4% year over year. Steady, as it almost always is. The Upper West Side co-op market in particular continues to generate competitive situations on well-priced units.
Upper Manhattan recorded 77 contracts, up 8% year over year. Continued strength in a submarket where relative affordability draws buyers who need more space than the core can offer at their price point.
Financial District and Battery Park City posted 35 contracts, up 6% year over year. Modest but positive in a submarket that has benefited from consistent waterfront demand and value relative to Downtown proper.
Negotiability Tightened. Sellers Are Getting Closer to Their Ask.
The average discount off last asking price was 2.5% in June, an improvement of a full percentage point versus June 2025, when discounts averaged 3.5%. Condos averaged 3.8% below ask. Co-ops averaged just 0.6% below ask, which is essentially at list. Approximately 30% of co-op contracts in June closed at or above asking price. For buyers competing on co-ops in Manhattan right now, the negotiating dynamic has shifted. The conversation is less about how far below ask you can get and more about whether you can move fast enough to get the property at all.
What June Actually Means
Manhattan posted its best June in four years on the back of compressed inventory, motivated buyers, and broad demand across nearly every price point and submarket. The 13% annual gain is not a statistical artifact. It reflects real activity across a wide range of buyers.
The price per square foot decline is the one headline that needs unpacking. It is not a sign that Manhattan values are softening. It is a sign that the mix of what traded in June skewed toward properties below $2,000 per square foot, because that is where the available inventory was. The properties in prime locations at premium price points are not sitting. They are simply not coming to market in the volume buyers want.
For sellers in Manhattan: June is the clearest signal yet that the window is open. Inventory is at a nine-year June low. Buyers are moving faster than the historical average. Co-ops are closing at essentially list price. The sellers generating the best outcomes are the ones pricing correctly at the start and not waiting for a higher number that the current market will not deliver.
For buyers: preparation remains the variable that separates the buyers who get what they want from the ones who keep losing it. With days on market running two weeks below the historical average and co-ops closing above ask at meaningful rates, the time between a property hitting the market and going into contract is compressing. A buyer with financing in order, an attorney engaged, and a clear sense of their criteria is positioned to move. Everyone else is watching from the sideline.
Thinking About a Move?
Manhattan inventory is at its lowest June level since 2017 and co-ops are closing at essentially list price. If you are thinking about buying or selling, the current market rewards preparation and timing.