For many Manhattan sellers, listing in November or early December works in their favor. There are fewer competing listings, and the buyers still touring tend to be serious. Waiting until January makes more sense if the apartment isn’t ready, if a large wave of comparable new inventory is about to hit, or if you need a long runway. The deciding factor is preparation more than the calendar.

Key Takeaways

• Winter inventory is thinner: Manhattan active listings fell about 12% from December 2025 to January 2026, to the lowest January count since 2017.
• A ready, correctly priced apartment can stand out between Thanksgiving and New Year’s, while an unprepared one is better held for a mid-January launch.
• Second-home owners facing the new non-primary residence surcharge, with the first payment due January 1, 2027, should run the numbers before the year ends.

Is the Holiday Season Really a Dead Zone for Selling?

No. Fewer buyers tour in December, but the ones who do are usually serious, and they have fewer apartments to choose from. Every November I have the same conversation with sellers who assume the market goes quiet until spring. That isn’t what I see.

The people touring apartments in December are rarely browsing. They are relocating for a job that starts in January, closing out a year-end decision, or in town for the holidays and using the time to see apartments in person.

The numbers support that. In January 2026, Manhattan active listings fell to just over 5,360, down 12% from December and the lowest January count since 2017, according to Corcoran. In that same month, the average discount off the last asking price was 2.9%, shallower than in December 2025 or January 2025. Winter doesn’t automatically mean a lower price.

Who Should List Before the Holidays?

List before the holidays if your apartment is ready now and your situation rewards an earlier sale. That usually means:

• Sellers whose apartment is ready now. Repairs done, photography scheduled, pricing set against current comparable sales. A ready apartment is one of only a few good options a serious December buyer will see.
• Condo owners who appeal to out-of-town and international buyers. Many of those buyers are in New York during the holidays and have time to tour.
• Second-home owners weighing the new surcharge. New York City’s surcharge on high-value non-primary residences took effect July 1, 2026, with the first payment due January 1, 2027, according to Dechert. If keeping the apartment no longer makes sense, talk to your tax advisor now rather than in March.
• Sellers with a fixed timeline, such as a purchase, a move, or an estate that needs to close in the first quarter.

Who Should Wait for January?

Wait for January if the apartment isn’t ready or if new competition is about to land in your price range. That usually means:

• Anyone whose apartment isn’t ready. A rushed launch costs more than a six-week delay. The first two weeks on the market are your highest-leverage window, which is why I wrote about debuting a listing only once.
• Owners of units that compete directly with new development. Roughly 768 new-development units across 20 Manhattan buildings are slated for release this quarter, the largest fourth-quarter release since 2014, according to Commercial Observer. If your buyer is choosing between your resale and a brand-new condo down the block, give yourself room to position against it.
• Co-op sellers who need board approval to land before a hard date. Boards still meet over the holidays, but member schedules slow down. Build that into the timeline.

Do Higher Mortgage Rates Change the Decision?

For most sellers at the upper end of the Manhattan market, not as much as the headlines suggest. The 30-year fixed rate was 7.40% on October 8, its highest level since November 2023, according to Trading Economics. That weighs most on buyers who borrow heavily, typically at the entry level. Many Manhattan purchases above $2 million involve substantial cash. I explain the difference in The Price of the Apartment vs. the Cost of the Money.

If You List Now, What Should You Do Differently?

Plan the launch around the holiday calendar instead of against it:

1. Launch before Thanksgiving week or in the first days of December. Give buyers a full stretch of showings before the calendar fills up.
2. Photograph the apartment, not the season. Keep holiday decor out of the primary photos so the listing doesn’t look dated in January.
3. Price to the market from day one. A price reduction on December 20 sends a very different message than one on March 1.
4. Decide in advance how you’ll handle the last week of December. Some sellers stay fully available, others pause showings for a few days. Either works if it’s planned.

What I Tell My Clients

If the apartment is ready and priced correctly, I would rather be one of a handful of good listings in December than one of hundreds in March. If it isn’t ready, January is not a consolation prize. It’s a better launch than a rushed one. The mistake is letting the calendar make the decision instead of the condition of the apartment and the competition around it.

Before You Price a Listing: Watch the Framework

Frequently Asked Questions

1. Is December a bad month to sell an apartment in NYC?

Not necessarily. There are fewer buyers in December, but there are also fewer listings, and the buyers who are touring are usually motivated. A well-prepared, correctly priced apartment can stand out. An apartment that isn’t ready is usually better launched in mid-January.

2. Do people still look at apartments over the holidays in Manhattan?

Yes. Relocating professionals, out-of-town and international buyers visiting for the holidays, and buyers with year-end deadlines continue to tour. Activity slows most in the last week of December and picks up again in January.

3. Will I get a lower price if I sell in the winter?

Not automatically. In January 2026, the average discount off the last asking price in Manhattan was 2.9%, shallower than in December 2025 or January 2025, according to Corcoran. Pricing and preparation affect the outcome more than the month.

4. Should I take my apartment off the market for the holidays?

It depends on how much interest you’re getting. Staying listed keeps the apartment visible to serious buyers. If activity has stopped entirely, a short planned pause and a refreshed relaunch in January can work, but discuss the timing with your broker first.

Should You List This Season or Wait for January?

The right answer depends on your apartment, your building, and the inventory you’ll be competing against, not the date on the calendar. If you’re weighing a holiday listing against a January launch, I’ll review your apartment and the competing inventory and give you a straight answer.

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This article is general market commentary. For tax questions about the non-primary residence surcharge, consult a qualified tax professional.

Michael J. Franco is a top producing broker at Compass, ranked #13 in Manhattan and #100 nationally by The Wall Street Journal and Real Trends. With over 20 years of experience as a broker, attorney, and investor, Michael brings legal and financial precision to every Manhattan real estate transaction.