Market Overview I Greenwich Village/Noho I January 2026
Every month, we dive into the $1M+ market to uncover trends, then take a closer look at new developments, the luxury segment, and the key factors shaping our city’s real estate landscape.
January opened with real movement in Greenwich Village and NoHo, but not all segments moved the same way. When you look across both the $1M+ market and the $5M+ tier, the contrast is clear: new development and top-end homes surged, while the resale market shifted into a more volatile, opportunity-rich phase.
The common thread across the neighborhood is confidence. Sellers are stepping forward in force, with new listings jumping sharply across multiple categories, signaling a willingness to test the market early in the year.
New development set the tone in January and emerged as the strongest-performing segment. In the $1M+ market, contracts signed increased 15%, but pricing stole the spotlight. Average prices more than doubled, climbing 108% to $6.45M. At the higher end, momentum accelerated further. Contract activity doubled, while average pricing surged 169% to $16.38M, driving a 438% spike in dollar volume. Buyers are making a clear flight to quality.
The resale condo market cooled in January, but it also opened a rare door for buyers. Contract activity and dollar volume both pulled back, and pricing softened. In the $1M+ segment, average prices fell 21% to $4.03M. At the top tier, average pricing dipped further to $6.63M. At the same time, inventory surged.
Co-ops delivered a very different outcome. While contract activity declined, dollar volume jumped 290%, driven by higher-value transactions. Average pricing in the $1M+ category rose 39% to $3.49M. At the higher end, co-ops remained steady. Average pricing held around $6.01M, supported by a healthy rise in new listings. Even with fewer deals, buyers are paying up for the right co-op. Quality and scale are once again separating winners from the rest.
January 2026 highlighted a clear split in the Greenwich Village and NoHo market. New development is setting new benchmarks, while resale inventory is finally expanding—creating meaningful opportunities for buyers who have been waiting on the sidelines.
For sellers, the surge in new listings means pricing, presentation, and positioning matter more than ever. For buyers, increased resale inventory marks one of the strongest entry points these neighborhoods have offered in years.
