Various factors such as school calendars, public holidays and even the weather affect the activity of Manhattan's residential real estate market. In addition, there are buyers' assumptions regarding the strength of the spring and autumn markets. The months of March, April, May, June and October have historically been – at least from 2015 to 2025 – the most active months for sales of condominiums (Condos) and cooperative apartments (Co-ops) in Manhattan. The average number of sales in these months typically exceeded 1,000 per month, according to recent data from Corcoran Sunshine, shared exclusively with Commercial Observer.
General seasonal drivers of Manhattan's residential real estate market include the school year calendar, which determines when moving into new homes is least disruptive. Another factor is the timing of corporate bonus payments, which usually occur between January and March. At the same time, family holidays, the back-to-school transition, the Labor Day weekend and religious holidays can contribute to a general market slowdown. After September, however, sales tend to recover, accompanied by a normalisation of schedules, an influx of new listings, cooler weather and impending year-end tax implications.
From January to July 2026, a total of 7,239 condominium and cooperative apartment sales were completed in Manhattan, with over 1,000 transactions recorded in March, April, May and June respectively, according to Corcoran Sunshine's analysis. Historically, September saw the most listings, with an average of 2,264 per month between 2016 and 2025, while December had the fewest new listings with 730.
The figures for condominiums and cooperative apartments over $5 million showed a slightly different trend this year compared to the average. From January to July 2026, the number of sales for properties over $5 million totalled 576, while the average sales value in this period from 2016 to 2025 was 495. This year's higher figures are a result of Mayor Zohran Mamdani's Pied-à-terre tax, which stipulates an annual property tax surcharge for luxurious second homes in the city and does not yet appear to deter property owners.
For real estate agents, marketing periods for these properties are longest in winter, as contract activity slows down due to the holidays. They also increase during general elections, depending on the year. During spring, however, marketing periods tend to shorten as the market picks up, reaching their lowest point in April – a month that historically sees higher sales figures.
The Corcoran Sunshine report states that seasonal peaks and troughs in the $5 million market are more pronounced than in the overall market. Third-quarter sales in this segment are historically almost 40 per cent below the spring peak, while the broader market is only 20 per cent slower. This is attributed to family holidays, summer camps, unavailable co-op boards and the timing of salary packages.
