Weekly Manhattan & Brooklyn Market Update: 3/10
Elegran | Forbes Global Properties March 8, 2025
Elegran | Forbes Global Properties March 8, 2025
Buyers and sellers began sprouting just like spring flowers as NYC experienced its first taste of spring weather. Market activity rose with new listings and signed contracts reaching new 2025 weekly highs, signaling strong momentum ahead of the busy spring season.
Manhattan and Brooklyn each saw their largest weekly influx of new listings this year, expanding buyer options as demand picks up. Manhattan added 474 new listings—a 28% increase from the prior week—while Brooklyn saw 265 new listings, marking a 40.2% jump.
Buyers met this rise in supply with increased contract signings. Manhattan’s signed contracts rose 12% year-over-year to 248, hitting its highest weekly total of 2025. More significantly, this was the first week all year that Manhattan’s contract volume meaningfully exceeded the same week’s level in 2024, reinforcing renewed buyer confidence. Brooklyn also saw a 10% increase in signed contracts, breaking out of a six-week range and confirming sustained demand.
Due to this heightened market activity, the Elegran | Forbes Global Properties NYC Consumer Sentiment Index jumped from +27 to +40 this week, reflecting growing market confidence as spring approaches. With expanding inventory and accelerating contract activity, the market is shaping up for an active and competitive spring season ahead.
The Manhattan residential market experienced a rise in new inventory this week, with 474 new listings—a significant 28% jump from the previous week. This marks the largest single-week influx of new listings in 2025, driving the total active inventory to 5,906, a 1.67% week-over-week increase. This growing supply could offer buyers more options and increase competition among sellers in the coming weeks.
Data courtesy of UrbanDigs
Brooklyn’s residential market saw a significant rise in new inventory this week, with 265 fresh listings—a 40.2% increase from the previous week. This marks the largest weekly influx of new listings in 2025, bringing the total active inventory to 2,948, a nearly 1% week-over-week gain. This uptick in supply could create more opportunities for buyers while adding competitive pressure for sellers.
Data courtesy of UrbanDigs
Buyer activity in Manhattan’s residential market continued to gain momentum this week, with signed contracts reaching 248—a 12% increase over last week’s already strong levels and the highest weekly total in 2025 so far. This surge in activity propelled the Elegran | Forbes Global Properties Manhattan Consumer Sentiment Index from +10 to +23, marking the second consecutive week of rising confidence.
Brooklyn’s residential market saw a surge in buyer activity this week, with 138 signed contracts—a 10% increase from the previous period. This jump pushed the Elegran | Forbes Global Properties Brooklyn Consumer Sentiment Index from +70 to +86, reflecting growing buyer confidence. Notably, contract activity broke out of the 120-130 range, where it had remained for the past six weeks, signaling sustained demand and a strengthening market as we approach the spring season.
Marketproof reported that 66 new development contracts were signed in 41 buildings this week. The following buildings were the top-selling new developments of the week:
- 65 Eckford Street (Greenpoint) reported 13 newly signed contracts
- 720 West End Avenue (Upper West Side) reported 6 newly signed contracts.
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