Twenty-eight contracts were signed last week in Manhattan at $4 million and above — three more than the previous week’s 25. Condos outsold co-ops 17 to 7, with four townhouses rounding out the mix. Leading the week was a 17th-floor condo at 551 West 21st Street in a Foster + Partners–designed building, asking $17 million, with sweeping Hudson River views from its 4,271-square-foot layout. Close behind was a 3,855-square-foot unit at the Waldorf Towers, 301 Park Avenue, asking $16.5 million.
Downtown led all submarkets with 14 signed contracts, more than double any other area, while the East Side (6), West Side (5), and Midtown (3) rounded out a relatively quiet week outside the Downtown surge.
Zooming out from the $4M+ segment, Manhattan’s broader market stayed steady: 191 contracts were signed citywide across all price tiers last week, essentially flat (-2.1%) versus the prior week and down 5.0% year-over-year. Active supply held at 6,138 listings (+0.6% weekly, still 9.7% below a year ago), while weekly new listings fell to 310 — a fifth straight weekly decline. Thirty-day liquidity (contract activity) jumped 9.6% to 732, the third straight week of gains, and median days-on-market for $4M+ listings has compressed meaningfully, now the fastest luxury pace of the cycle.
Mortgage rates: the 30-year conforming rate stands at 7.29% and the 30-year jumbo rate at 7.40% — both still well above year-ago levels (conforming +104 bps, jumbo +82 bps year-over-year). The jumbo-conforming spread has moved to +11 bps, meaning jumbo loans are once again pricier than conforming, ending the brief inversion seen in recent weeks.
