The Q2 2026 median sales price for Manhattan co-ops and condos reached a record $1.25 million — the sixth straight quarter of year-over-year gains — even as listings fell 15 percent and transactions dropped 6.3 percent. Monthly carrying costs are rising faster than the purchase price.

Manhattan's median sales price for co-ops and condos reached $1.25 million in the second quarter of 2026 — a 4.2 percent increase over Q2 2025 and the sixth consecutive quarter of year-over-year gains, according to a market overview from Jonathan Miller, president and CEO of appraisal firm Miller Samuel.

The record median came as listings contracted sharply. Apartment sales listings fell 15 percent on an annual basis, and transactions overall were down 6.3 percent from the year-ago quarter, Miller's report shows. The only price segment to see an increase in deals: units in the $2 million to $4 million range.

The purchase price is only part of the calculation. Monthly charges "continue to outpace inflation," Miller told Brick Underground, which first reported the findings. The average monthly maintenance for a co-op that closed in the quarter was $3,077 — or $2.83 per square foot — up 10.2 percent year over year in dollar terms and 16 percent on a per-square-foot basis. The average condo's monthly common charges plus real estate taxes ran $4,466, or $3.37 per square foot. Rising insurance premiums and utility costs are driving those increases, Miller's report notes.

At the top of the market, the picture inverted. Active listings in the $10 million-to-$20 million co-op range rose 32.4 percent; the $20 million-and-above bracket was up 20 percent. Ultra-luxury condo deals above $10 million climbed 54.5 percent.

Six straight quarters of median-price gains, inventory down 15 percent, and carrying costs moving at double-digit annual rates: the math for a first-time buyer in Manhattan keeps getting harder to run.