Manhattan Holiday Housing Market Stays Active
In the final week of 2025, the Manhattan holiday housing market remains lively, selective, and firmly grounded in real demand, even as the city moves through New Year’s celebrations. Co-op and condo contracts continue to outpace new listings in key neighborhoods, and 13 luxury deals at $4 million and above bring activity in line with the 10-year New Year’s week average. Notable transactions include units at Aman New York Residences and The Willow, showing that buyers act decisively even during a traditionally quieter week.
Co-ops Support Daily Manhattan Holiday Housing Market Moves
Everyday Manhattan moves continue, showing that the holiday season does not stall the market. On the Upper East Side, nine new co-op listings enter the market with a median asking price of $1,065,000, while buyers sign 17 contracts at a slightly higher $1,175,000 median. This pattern reflects steady demand for established, full-service buildings. The Upper West Side adds four new listings and sees 10 contracts close at a $1,235,000 median, proving that buyers move quickly when layout, condition, and pricing align. Midtown and Downtown also offer accessible options. Midtown lists 10 new properties at $847,000 median and records 18 contracts at $645,000 median. Downtown lists three new units at $850,000 and closes 11 contracts at $1,150,000 median. Convenience and readiness to act drive these decisions. Those interested in co-op trends can explore the Manhattan co-op market insights for more details.
Condos and Townhouses Drive Manhattan Holiday Housing Market Demand
Condos and condops continue to lead market momentum as Manhattan moves into 2026. Midtown lists 13 new condo units at a median asking price of $1,178,000, while 16 contracts close at a median of $2,030,000, showing that buyers favor full-service buildings with strong amenities. Downtown reinforces this trend with seven new listings at a $999,000 median and 18 contracts closing at a $2,692,500 median, highlighting how architecture, finishes, and neighborhood lifestyle drive premiums. On the Upper East Side, five new condo listings generate four contracts at $3,117,500 median, and the Upper West Side records two new listings at $3,375,000 with seven contracts at $1,995,000. Townhouses remain selective but meaningful. Midtown closes three townhouses at $5,995,000 median, even though no new townhouses appear on the Upper East Side, Upper West Side, or Downtown. For additional market insights, see Elliman Market Reports.
Price Tiers and Price Per Square Foot Guide Decisions
Buyers and sellers rely on price tiers and price-per-square-foot metrics to evaluate value. The $0–$3M range powers the market, with homes under $1M listing 25 new units and closing 41 contracts, while the $1M–$3M band lists 21 units and closes 36 contracts. These buyers include first-time purchasers, move-up buyers, and downsizers who remain active even at year-end. Above $3M, four new listings support 15 contracts in the $3M–$5M range, and three new listings support 10 contracts between $5M and $10M. Ultra-luxury properties above $20M close two deals without new supply, reflecting a highly curated top tier.
Price-per-square-foot data highlights market trends. Homes under $1M list at $1,315 per square foot and close at $1,298, while $1M–$3M listings average $1,485 and close at $1,552. Higher tiers show more variation: $3M–$5M listings average $4,775 versus $2,158 for contracts, and $5M–$10M listings average $2,048 versus $2,882 for contracts. Ultra-luxury homes above $20M close around $6,505 per square foot, reflecting the selective nature of the top market.
Luxury Contracts Reflect Healthy Manhattan Holiday Activity
Luxury buyers remain active even during the holiday week. Between December 29, 2025, and January 4, 2026, 13 contracts above $4M close across condos, co-ops, condops, and townhouses in neighborhoods including Gramercy Park, Chelsea, and the Upper West Side. Standout transactions include Aman New York Residences Units 18B ($24.3M) and 16B ($21.5M), and a PHA at The Willow ($9.4M), with closings scheduled for spring. These deals total approximately $113.4M in asking-price volume, with an average asking price of $8.7M, a median of $6.5M, an average 7% discount from original to last ask, and roughly 345 days on the market, reflecting the longer sales cycles typical for ultra-luxury properties.
How Buyers and Sellers Use the Holiday Week
Buyers and sellers use the holiday week strategically. Buyers in the $0–$3M range seize opportunities where asking prices and achieved price-per-square-foot levels align closely, securing homes without extreme discounts. Motivated luxury buyers focus on branded residences and new development, negotiating in a quieter calendar window rather than competing in peak months. Sellers signal readiness by listing well-priced, well-presented properties, converting listings into contracts even during the holiday week. Properties priced above market risk have longer marketing periods and deeper discounts.
Ultimately, as Manhattan moves into 2026, the Manhattan holiday housing market remains active, data-driven, and human-centered, with life changes, equity positions, and careful pricing shaping decisions.
