Market Overview I Soho / Nolita I May 2026
Every month, we dive into the $1M+ overall 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.
In May 2026, the Greenwich Village and NoHo market showed a notable shift across all market types. The overall market saw 24 contracts signed for over $1M, led by 65 West 13th Street, PHD at $17,750,000. There were 20 new listings, down 47% year over year, with the priciest being 34 West 12th Street at $29,995,000. Closings totaled 24, topped by 16 Fifth Avenue, PH2 at $32,500,000.
The new development segment saw a slight slowdown in contracts, with 4 signed, a 33% decrease year over year, led by 16 Fifth Avenue, Unit 8 at $12,500,000. New listings came in at 3, totaling $20M in dollar volume and down 50% year over year, with that same Unit 8 topping the list at $12,500,000. Sales reached 8, with 16 Fifth Avenue, PH2 at $32,500,000 the standout, the same closing noted in the overall market. Across these categories, new development accounted for 17% of contracts, 15% of new listings, and 33% of sales.
The luxury ($4M+) segment saw contracts decline 58% year over year, with 5 signed in May. New listings dropped to 3, down 80%, though the average price climbed 54% year over year to $15.83M. Sales told a different story: 10 closings, up 11% year over year, with the average price also rising 13% to $9.58M.
The single-family segment was quiet, with 1 new listing, 1 contract signed, and 1 sale. Both the contract and the sale were at 125 West 11th Street at $21,500,000, while the new listing was 34 West 12th Street at $29,995,000.
Overall, the market showed real resilience in May, with rising prices and steady high-end demand pointing to continued strength at the top of the market.
