By Karen Kostiw | Coldwell Banker Warburg
Manhattan Real Estate, September 15 Market Trends
The Manhattan real estate snapshot for September 15 highlights a pivotal fall market. Activity picked up across co-ops, condos, and luxury properties. Traditionally one of the busiest seasons of the year, September continues to attract both new listings and active buyers across co-ops, condos, and luxury properties. Data this week reflects a selective but engaged market, with strength across the $1M–$3M tier and steady momentum in luxury contracts above $ 5 million.
Co-ops: Value-Oriented Momentum
Midtown led the co-op market with 32 signed contracts at a median of $692,000, emphasizing buyer interest in more attainable price points. The Upper East Side remained steady, with 21 contracts at $1.29 million, while Downtown logged 19 contracts at $1.23 million, underscoring a continued focus on neighborhoods with both lifestyle appeal and value.
Condos & Condops: Downtown Leads Luxury Demand
Condos and condops remain the engine of Manhattan’s market. Downtown stood out with 31 contracts at a median of $1.49M, while Midtown followed closely with 25 contracts at $1.75M. On the Upper East Side, the median condo contract price of $2.47 million highlights buyers’ willingness to pay premiums for well-located inventory.
Townhouses: A Pipeline of Ultra-Luxury Listings
The townhouse segment saw 15 new listings, including three on the Upper East Side averaging $28M and four Downtown at $23.7M. Although only one Midtown townhouse went into contract at $4.99M, this growing inventory of ultra-luxury homes signals a highly selective buyer pool as the season progresses.
Sales by Price Tier: Strength Under $3M, Resilience Above $5M
This week, 71 contracts were signed in both the $0–$1 million and $1 million–$3 million tiers, confirming that liquidity remains strongest in the broader market. In the luxury sector, 14 contracts were signed in the $5M–$10M range, indicating buyer confidence when value aligns with pricing. One transaction closed above $20 million, demonstrating that ultra-prime buyers remain engaged, albeit highly selective.
Condo Resale Prices: A Premium on Quality
Resale pricing reinforces the premium for rare, high-quality properties:
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$2,796/SF in the $5M–$10M tier
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$2,506/SF in the $3M–$5M tier
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$6,940/SF for a $20M+ contract
These numbers demonstrate that well-positioned luxury properties continue to achieve top-of-market performance.
Strategic Takeaways
For sellers, September remains one of the most critical months to launch. Properties priced and staged strategically are attracting immediate attention from buyers. Through Coldwell Banker Warburg’s RealVitalize program, cosmetic improvements can be completed with no upfront costs—ensuring homes meet market expectations from day one.
For buyers, particularly in the luxury space, market knowledge is leverage. While inventory remains deep, liquidity in the $5M–$10M segment is tightening, making informed decisions based on $/SF trends essential.
With my Wall Street background, project management expertise, and access to the Coldwell Banker Global Luxury network, I provide clients with both the data and the execution needed to succeed in this pivotal fall market.
