property

First-Time Buyers Close 28% More Deals in Greenwich Village Market

First-time purchasers closed 28 percent more deals in the second quarter while targeting smaller units priced near $875,000.

By Greenwich Village Property Desk · Published July 8, 2026

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First-time buyers closed 42 transactions in Greenwich Village between April and June 2026, up from 33 in the same stretch of 2025, according to city records released July 7.

The increase arrives while 30-year fixed mortgage rates sit near 6.1 percent and total active listings in the neighborhood stand at 187, the lowest July count since 2022. Entry prices for studios and one-bedrooms have held steady near Bleecker Street and MacDougal Street even as larger units on Fifth Avenue slipped 3 percent from their March peaks.

Side-street condos draw new buyers

Most of the new activity centers on converted walk-ups along Christopher Street and West 4th Street. The Greenwich Village Historic District review board approved eight such conversions in the first half of 2026, adding 19 units under 650 square feet. Local brokerage Brown Harris Stevens reported that 17 of those units went under contract within 22 days of listing, with first-time buyers accounting for 14 of the contracts.

Washington Square Park area co-ops also saw renewed interest after the co-op board at 45 West 10th Street lowered its flip tax from 3 percent to 1.5 percent on May 15. That change alone produced four first-time buyer sales in June at an average price of $812,000.

Price data and next steps

Median entry price for first-time purchases reached $875,000 in the second quarter, according to the same Department of Finance filing. That figure sits 4 percent above the same period last year but remains 11 percent below the neighborhood peak recorded in late 2024. Days on market for these units averaged 31, down from 47 a year earlier.

Buyers planning to enter before Labor Day should review listings posted by July 20 and secure pre-approval letters from lenders familiar with Village co-op boards. Inventory released after the July 4 holiday typically includes three to five new studios or one-bedrooms each week along the side streets south of Washington Square Park.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.

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