"The biggest gains came from homes priced above $10 million. According to Compass's Q1 2026 report, contracts at that level jumped a whopping 47.4 percent compared to last year."
"Today's high-end buyer is incredibly sophisticated. They recognize opportunity, and they're negotiating accordingly."
"Sales above $10 million largely drove the market, according to Brown Harris Stevens Development Marketing, with 56 contracts signed in the first quarter alone—the highest total in a decade."
Manhattan's luxury real estate market is experiencing significant growth, especially for properties priced above $10 million, with contracts increasing by 47.4 percent. Sales of condos above $20 million rose by 30 percent. New developments are also thriving, with 56 contracts signed in the first quarter, marking an 87 percent increase from the previous year. Buyers in this segment are discerning and strategic, recognizing opportunities and negotiating effectively. In contrast, overall closed sales in Manhattan decreased by 3.2 percent, indicating a divide in market performance.
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