New York luxury price drops
The mansion-tax band is where a New York seller reprints the ask.
New York had 2,844 active asking-price reductions on August 25, averaging −7.0 percent — $668.77 million off published asks across 126 areas. That is the densest of the three US cities on this tape, and the mansion-tax band is where the reprint actually happens.
A seller sitting on the wrong side of a bracket will cut to get a contract that closes, not to decorate a listing. The percent on the card is the list-price move. It is not next year’s tax bill, and it is not a sold comparable.
This is the write-up of the August 25 freeze. The live New York listings are a different page. The New York market-data dashboard is the live tape.
The August 25 tape
| August 25 | |
|---|---|
| Active drops | 2,844 |
| Average drop | −7.0% |
| Value wiped | $668.77M |
| Areas | 126 |
| Drop tier | Listings |
|---|---|
| <10% | 2,289 |
| 10–20% | 474 |
| 20–30% | 62 |
| 30–40% | 11 |
| 40%+ | 8 |
Where the tape is
| Area | Drops |
|---|---|
| Brooklyn | 612 |
| Manhattan | 496 |
| Upper East Side | 226 |
| Staten Island | 164 |
| Flushing | 107 |
As of August 25, 2026.
US figures are Zillow buy. All dollars. Luxury Price Drops is not a brokerage. Four-city report.