Julia's Market Insights

Thoughtful guidance on buying and selling homes in New York City.

A Note From Julia

As the city settles into fall, the last quarter has been one of quiet records. Even with rates ticking up and no shortage of noise in the headlines, Manhattan prices kept reaching new highs, and homes sold faster than they have in years.

I have seen this firsthand with my own clients. My buyers have been in competitive situations across a range of price points, and the homes that move quickly all have a standout quality, a private balcony, a clever combination layout, an unbeatable location. Part of my work is finding and framing that quality in every home, because almost all of them have one.

The market showed real strength across the city this quarter, and downtown, where I spend much of my time, was the standout, drawing more buyers and stronger prices than any other part of Manhattan. It is a good reminder that the places people most want to live tend to hold their value. If a move is somewhere on your horizon, wherever in the city it takes you, I would love to help you think it through.

Warmly,
Julia

Homes That Stood Out

Three homes currently on the market that caught my attention this quarter.

East Village | $799,000

111 4th Avenue, Residence 5K | Studio / 1 bath

Downtown loft living at an approachable price, inside the landmark International Tailoring Company Building from 1921. The signature ten-by-ten factory casement windows flood the open layout with light, while a breakfast bar and generous living area make the single room feel expansive. A full-service co-op with a doorman and roof deck, it is a rare entry point into the heart of the East Village. Listed by Compass.

Gramercy Park | $1,795,000

305 2nd Avenue, Residence 344 (Rutherford Place) | 2 bed / 1 bath

A one-of-a-kind duplex in the landmark Rutherford Place, and the only residence in the building with its own private entrance off the lobby’s marble staircase. Soaring ceilings and prewar detail give the 1,109-square-foot home real presence, while a private terrace adds the kind of outdoor space that rarely comes available downtown. A full-service condominium with concierge, gym, and roof deck. Listed by Brown Harris Stevens.

Greenwich Village | $2,995,000

38 West 9th Street, Residence 3 (The Portsmouth) | 3 bed / 2 bath

A beautifully renovated three-bedroom on a quiet, tree-lined block just off Lower Fifth Avenue, blending classic old New York architecture with a European sensibility. Two wood-burning fireplaces anchor the home, while central air and hardwood floors carry modern comfort throughout. Set in a full-service 1900 cooperative with a doorman, it is the kind of home the Village rarely offers. Listed by Compass.

Homes featured are listings currently on the market that caught my eye this quarter. Listing information courtesy of their respective brokerages.

What I’m Seeing in the Market

Good homes are moving quickly, and pricing right is everything.
The clearest signal this quarter was speed. Manhattan homes sold in about 90 days on average, the fastest pace since 2022, and at nearly 98 percent of their last asking price, the strongest showing in four years. What stands out most is how much getting the price right from the start matters. In Manhattan Q3 2026 sales, the median discount from the original ask grew the longer a home sat:

0 to 30 days: 0% median discount from original ask

31 to 60 days: 2%

61 to 90 days: 4%

91 to 120 days: 6%

121+ days: 9%

Getting the price right from day one rewards the seller who resists testing a higher number, and the buyer who recognizes real value and moves with conviction.

Downtown is leading the city.
The strength this quarter was most pronounced downtown. The neighborhoods below 34th Street saw sales rise 21 percent, with the median price climbing 17 percent to $1.70 million, outpacing every other part of Manhattan. It is a reflection of something I see every day: demand for the character, scale, and architecture that define downtown living continues to deepen.

The new pied-à-terre tax is now in effect.
As of July, New York City applies a surcharge to second homes that are not a primary residence, with rates that rise alongside value. The city has also begun auditing the primary-residence abatement more closely, and has already removed roughly 10,000 apartments from the program. For anyone with a pied-à-terre or second home, it is worth confirming early how your property is classified, since primary residences are excluded and the details depend on ownership and use. I am glad to connect you with attorneys who advise on this. Notably, the high end has kept transacting right through it, with sales above $3 million up 25 percent from a year ago, a sign that the buyers most affected are proceeding with clear eyes rather than stepping back.

Market data drawn from the Corcoran and Brown Harris Stevens Q3 2026 Manhattan reports; days-on-market and discount figures via UrbanDigs.

Field Notes

A lighter look at the season. With the leaves turning, I found myself wondering which downtown neighborhoods actually feel greenest to walk through, so I looked at how densely their streets are planted, block for block. The West Village leads the way, though nearly every downtown neighborhood has a block worth slowing down for this time of year.

Downtown's Leafiest Streets: street trees per acre across downtown Manhattan neighborhoods