Manhattan saw its strongest contract activity in nearly two years, with 284 deals signed—an 18% jump from the previous week and the highest weekly total since May 2023. Brooklyn followed suit, recording 146 signed contracts—up 11% week-over-week and well above its recent six-week average.

Across the city, the Elegran | Forbes Global Properties NYC Consumer Sentiment Index climbed from +44 to +53.

A welcome, albeit small, dip in mortgage rates contributed to this uptick. The average 30-year fixed rate fell 10 basis points to 6.71%, a three-month low that brings rates back to early December levels. While rates remain elevated compared to last September, this reprieve is enough to reignite some buyer motivation.

Still, uncertainty remains. The Fed held rates steady again but reaffirmed plans for two rate cuts later this year. Inflation is proving stubborn, and new tariffs add to the unpredictable outlook. But despite the noise, buyers are making moves—not because the market is perfect, but because life doesn’t wait.

Today’s consumers are transacting based on necessity and timing: relocation, upsizing, downsizing, or seizing an opportunity while others hesitate. Historically, those who act decisively during times of uncertainty are the ones who benefit most.

Manhattan Supply

Inventory in Manhattan climbed 3.6% this week to 6,397 active listings, as 521 new homes hit the market. While that’s 3% fewer than last week, it still marks the second-highest weekly influx of new listings in 2025. This steady rise in supply gives buyers more choices and helps to balance the increase in buyer demand.

Brooklyn Supply

Brooklyn added 235 new listings this week—up 4.4% from the previous week—pushing total active inventory to 3,090, a 2.7% week-over-week increase. This steady growth in supply helps to balance the increase in buyer demand.