The Manhattan townhouse market finished the first half of 2025 with increased sales volumes but at lower prices, reflecting a more value-driven and selective environment. Compared to the first half of 2024, the number of transactions rose 11% with 151 townhouse sales recorded, but the average sale price fell 18% to $6.3M, and average price per square foot slipped 6% to $1,245. Overall dollar volume dipped 9% as buyers prioritized well-priced and high-quality homes.
Several neighborhoods stood out: the Upper East Side posted a 38% jump in the number of townhouses sales year over year, driven by increased activity in the mid-market segment, while Chelsea saw average sale prices nearly double thanks to high-value trades. The Upper West Side held steady, with strong activity in the $3M–$6M range and continued interest in conversion opportunities. Harlem recorded the most townhouse sales of any neighborhood, up more than 50%, underscoring strong demand at more accessible price points.
At the top end, 973 Fifth Avenue achieved the highest sale so far this year at $46 million, showing that luxury townhouses continue to command premium prices in an otherwise cautious market.
