Market Overview I West Village I February 2026
Every month, we dive into the $1M+ market to uncover trends, then take a closer look at new developments, the $4M+ luxury segment, and the key factors shaping our city’s real estate landscape.
The real estate market in West Village during February showed a mix of trends across different property types, reflecting a dynamic and evolving environment. While some areas experienced slowdowns, there were definitely some bright spots worth noting.
The new development segment, for example, was especially lively. Average contract prices hit $31M, underscoring the continued strong demand for luxury properties. To break it down, these two contracts came from 125 Perry Street and 140 Jane Street - two of the best selling boutique new developments in the village outside of 80 Clarkson. Recorded sales were minimal, with just one sale during this period. Meanwhile, there was one new listing at 140 Jane Street, a 4-bedroom, 4.5-bath residence listed at $27M. This listing pushed the price per square foot to $5,882, highlighting the impressive appreciation in high-end developments.
Resale condos also showed strong momentum. Contracts signed jumped by 101 percent year over year, and while the average price per square foot only increased by 12 percent, it points to more accessible price points driving buyer activity. February saw 8 new listings, three of which were at 299 West 12th Street, including the contract for our buyer for unit 3K. There were 3 sales, including the standout penthouse at 147 Waverly Place, PH, which closed at $16.225M.
The resale co-op market, on the other hand, faced headwinds. Contracts signed dropped 72 percent, and dollar volume fell 72 percent. Yet average prices nudged up slightly by 1 percent, and new listings held steady compared to last year with ten new offerings up to $4.2M. There were 4 sales this month in the $1M to $4.5M range.
Single-family homes saw a significant slowdown in activity, with recorded sales down 67 percent. Still, average prices soared 27 percent to $19M. The most notable contract this month was at 430 Hudson Street, accompanied by a sale at 78 Morton Street for $19M. New listings were scarce, keeping inventory tight in this segment.
In the luxury segment, over the $4M threshold, there were 10 signed contracts, with the highest contract at $35M at 125 Perry Street, THE. In this threshold, there were 10 new listings overall, with the highest being 140 Jane Street, 4N, at $27M, which we flagged above. Out of the four sales, 78 Morton Street and 147 Waverly Place led the way with sales at $19M and $16.225M.
All in all, February’s market shows a nuanced story. New developments and resale condos are showing growth, while co-ops and single-family homes face some challenges. It is a complex but fascinating landscape, with opportunities for buyers and sellers depending on the segment.
Disclaimer: All information is deemed reliable but not guaranteed. Prices, sales, and listings are subject to change and should be independently verified. This report is for informational purposes only and does not constitute financial or investment advice. Source: MarketProof, $1M+ Sales, 2026.
