Market Overview I Midtown 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.
Midtown opened 2026 with a shift in tone. Activity has become more selective, but pricing—especially at the high end—has moved higher. This is a market that’s leaning hard into quality over quantity.
New development is in the middle of a transition, with deal volume slowing but pricing surging. Contracts signed declined across both tiers, down 40% in the $1M+ market and 67% in the $5M+ segment. Despite that pullback, pricing jumped. Average prices for new development over $1M rose 23% to $10.47M, while the $5M+ pricing more than doubled, climbing 116% to $26.7M.
The resale condo market diverged by price point. Pricing moved higher across the board. Inventory pressure is building at the top. The core condo market is active and competitive, while scarcity at the top is helping support and push premium pricing. Resale co-ops delivered one of the most eye-catching performances in January. Investors and buyers are targeting select, high-quality co-op assets, driving outsized price gains even without a surge in deal volume.
For sellers with well-positioned properties, this remains a strong environment.
For buyers, understanding where volume is flowing and where scarcity is driving prices is key to navigating Midtown right now.
