There are 2,350 homes asking $2,000,000 or more across the city right now, 865 fewer than the 3,215 in my June issue, and the median ask came down with them, from $3.625M to $3.495M. What did not move is the median asking price per square foot: $1,890 in June, $1,893 today. In 25 years of reading this market I take that pair the same way every time. Inventory left the board, but the price of the square footage that stayed did not budge. A buyer holding out for an August discount is waiting on something the numbers do not show yet.
The Numbers
Where the $2,000,000-and-up market sits in mid-August, measured against the June snapshot from the same RLS feed.
| Borough | Active $2M+ | Median ask |
|---|---|---|
| Manhattan | 1,920 | $3.8M |
| Brooklyn | 373 | $3M |
| Queens | 50 | $2.7M |
| Bronx | 7 | N/A |
Statistics derived from the RLS at REBNY via Trestle (Cotality), reflecting active and recently closed residential sale listings priced $2,000,000 and above as of August 15, 2026. Information is deemed reliable but not guaranteed. REBNY makes no warranties as to the accuracy of this data. © Real Estate Board of New York. All rights reserved.
New to Market
Six that came on recently, including two in Ditmars Steinway, where Queens now carries 50 active listings at $2M or more.
Top of the Market
The highest asks on the board. 217 West 57th has held the same $128,000,000 ask since my June issue.
Recent Closings
169 sales at $2,000,000 or above have closed citywide since August 1. These are among the most recent, with the listing brokerage credited.
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Frequently Asked Questions
What counts as a luxury home in this NYC market report?
This report tracks residential sale listings asking $2,000,000 or more across New York City, using REBNY RLS data delivered through Trestle (Cotality). Each monthly issue covers active listings, median asking price, median price per square foot, new listings and recent closings at that level, by borough. The current figures are as of August 15, 2026.
How many NYC homes are for sale at $2,000,000 or more?
As of August 15, 2026, 2,350 homes were actively listed at $2,000,000 or more across New York City with a median asking price of $3.5M, according to REBNY RLS data. The borough table on this page splits that count by borough, and the figures refresh with each monthly issue.
What mansion tax does a buyer pay on a $2M+ NYC home?
A purchase from $2,000,000 to $2,999,999 pays 1.25% of the full price, so a $2,000,000 contract owes $25,000. The rate rises to 1.50% at $3,000,000, 2.25% at $5,000,000, 3.25% at $10,000,000, 3.50% at $15,000,000, 3.75% at $20,000,000 and 3.90% at $25,000,000 and above. The rate applies to the whole price, not only the amount over a threshold, and it is due at closing.
Who pays the mansion tax and the transfer taxes on a NYC luxury sale?
The buyer pays the mansion tax. The seller pays the NYC Real Property Transfer Tax at 1.425% on residential sales above $500,000 and the New York State transfer tax at 0.65% on sales of $3,000,000 or more. On a $5,000,000 resale that comes to a $112,500 mansion tax for the buyer, plus $71,250 in city tax and $32,500 in state tax for the seller.
Does the NYC mansion tax apply to co-ops?
Yes. The mansion tax applies to any residential transfer of $1,000,000 or more, including the sale of co-op shares as well as condos and one to three family houses. There is no co-op exemption, so a co-op buyer at $2,000,000 owes 1.25%, or $25,000, the same as a condo buyer at that price.
Buying or selling at the top of the market?
I have been selling NYC real estate since November 2001 and I cover all five boroughs and the Hudson Valley. Tell me what you are looking at and I will give you the numbers behind it.
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