What seems to be popular right now outside of urban (which I've heard is getting a bit glutted anyway) is YA fantasy (it seems to be where a lot of fantasy writers are migrating, especially female ones), grimdark (100% male from what I can tell), epic fantasy with a more contemporary storytelling/narrative style ala George RR Martin or Scott Lynch, gunpowder fantasy and so on.
It seems like stuff with elves and dwarves and many traditional old style HF tropes are less common now, though some writers (Sullivan comes to mind) still do well with them.
A number of agents seem to be saying that YA paranormal and dystopian are glutted right now, and some specifically say, "Please no vampires, zombies, or werewolves."
The problem with looking at what's jumping off the shelves right now (and tailoring your writing to that) is that, unless you're a very fast writer (and even then if you're currently unpublished), the process of writing, polishing and querying a novel takes years, and then it's usually at least another year or two after an agent signs you before the book would be on the shelves (assuming it doesn't need substantial revision work and sells quickly).
Also, what established authors are selling may be different from what debut authors are selling.
So writing to today's market is probably not a great idea. The most common advice agents and editors seem to give at cons and workshops is write what you yourself would like to see more of, write it as well as you can, and hope for the best.
I'm querying a novel right now, and from the "wish lists" agents who accept fantasy have on their pages, I'm getting a vibe that while urban fantasy is still pretty popular (some agents seem to "only" take urban) secondary world settings have had a resurgence in popularity, and many agents are saying they want secondary world settings that aren't based on medieval Europe. A number specifically say they'd like to see more diversity and characters from underrepresented groups, including differences in gender identity, sexual orientation, and ability levels in fantasy too. Some say they're looking for books that blend or mix up genres in unexpected ways too.
I've also noticed that a couple of agents specifically said they're looking for "high" fantasy. I'm not sure if they're using this to simply mean "secondary world in pre-industrial settings," or if they're anticipating a return of the older style of "elevated tone" medievalish fantasy with elves and so on after all.