Inventory growth continued this week. Manhattan saw 355 new listings, an 11% increase, bringing the total active inventory to 5,685 units. Yet, contract signings fell 12% to 187 deals. 

Brooklyn remained more resilient, with 186 new listings—a 36% surge—while contract signings dipped 5% to 121 deals. Strong absorption rates kept the borough's total active inventory nearly unchanged at 2,868 units.

As both boroughs experienced a decline in contract volume, the Elegran | Forbes Global Properties NYC Consumer Sentiment Index dropped from +28 to +13 this week. With fresh inventory entering the market, pricing and strategic positioning will be key for sellers looking to attract buyers in today’s market.

Manhattan Supply

Seller confidence is rising in Manhattan, with 355 new listings hitting the market this week—an 11% uptick from last week. This fresh inventory has pushed total active listings to 5,685 units, a 1.54% increase. Buyers may find more opportunities as supply builds, though well-priced properties continue to move quickly.

Brooklyn Supply

Brooklyn’s market gained momentum this week, with 186 new listings—a 36% jump from last week. Yet, high absorption rates kept total inventory growth minimal, up just 0.56% to 2,868 listings. The swift turnover of new inventory highlights Brooklyn’s strong market fundamentals and sustained buyer demand, reinforcing the borough’s competitive landscape.

Manhattan Pending Sales: Pending sales decreased by 1.6% to 2,700 as recent contract activity has not kept pace with recent closings. 

Brooklyn Pending Sales: Pending sales increased by nearly 1% to 1,807. 

Manhattan Consumer Sentiment

The Elegran | Forbes Global Properties Manhattan Consumer Sentiment Index declined from +5 to -7 this week, as 187 contracts were signed, 12% fewer than last week.

Brooklyn Consumer Sentiment

Despite a 5% dip in contract signings to 121, Brooklyn’s market remains resilient. The Elegran | Forbes Global Properties Brooklyn Consumer Sentiment Index held strong at +64, down slightly from +73 but still signaling robust market confidence. This sustained optimism underscores Brooklyn’s enduring appeal and buyer confidence in its long-term value.

New Development Insights 

Marketproof reported that 41 new development contracts were signed in 29 buildings this week. The following buildings were the top-selling new developments of the week:

- Bergen Brooklyn (Boerum Hill) signed five contracts

- 720 West End Avenue (Upper West Side) signed three contracts.