Weekly Manhattan and Brooklyn Market Update: 3/9
Howard Hanna NYC March 9, 2026
Howard Hanna NYC March 9, 2026
The Manhattan and Brooklyn markets are entering the early phase of the spring selling season, with contract activity stabilizing and the transaction pipeline gradually strengthening after a volatile start to the year.
In Manhattan, signed contracts increased to 246 (+5.6% WoW) while pending sales rose to 2,830 units, signaling that buyers are actively re-entering the market as inventory remains relatively constrained.
Brooklyn experienced a softer week in signed contracts, though new listing activity increased and inventory expanded modestly, suggesting sellers are positioning for the March and April selling cycle.
Across both boroughs, inventory remains below historical norms, particularly in Manhattan where supply is still 7.3% below last year, reinforcing competitive conditions for well-priced listings.
The Howard Hanna NYC Consumer Sentiment Index declined from +41% to +24%, reflecting slightly cooler buyer urgency compared with the prior week while still indicating positive overall demand conditions heading into the spring market.
Manhattan active inventory increased slightly to 5,439 homes (+1.1% WoW | –7.3% YoY). Supply remains structurally below last year’s levels, reinforcing a limited-inventory environment heading into the spring market. New listings rose to 408 units (+56% WoW | –14% YoY). While the weekly jump reflects typical seasonal listing activity, the year-over-year decline confirms that seller supply has not fully normalized.
Brooklyn inventory edged up to 2,968 homes (+0.8% WoW | +1.3% YoY). While total supply remains slightly above last year, the modest weekly increase suggests a measured ramp-up in seller activity rather than a large inventory surge. New listings climbed to 209 units (+31.4% WoW | –21% YoY), indicating sellers are beginning to test the market ahead of the spring cycle, though listing volume remains below last year’s pace.
Manhattan Pending Sales: Increased 2.98% WoW to 2,830 units, signaling continued strength in the forward transaction pipeline.
Brooklyn Pending Sales: Decreased -0.36% WoW to 1,649 units, suggesting a short-term pause after earlier activity spikes.
Photo by Rihards Gederts | Howard Hanna NYC
Manhattan recorded 246 signed contracts (+5.6% WoW | –1% YoY). The Howard Hanna NYC Manhattan Consumer Sentiment Index improved from 16% to +22%, moving decisively back into positive territory and reinforcing that buyers are returning as the spring market approaches.
Brooklyn logged 101 signed contracts (–15% WoW | –27% YoY). The Howard Hanna NYC Brooklyn Sentiment Index declined from +61% to +38%, reflecting a weekly slowdown in contract activity and softer year-over-year performance. Despite the pullback, sentiment remains positive overall, indicating buyer demand is still present but more price-sensitive in the current environment.
According to Marketproof data, new development activity accelerated meaningfully this week, recording 40 signed contracts across 31 buildings during the week of 3/2/26.
Top-performing developments included:
The Greenwich By Rafael Vinoly (Financial District) – 3 contracts
The Sixth (Williamsburg) – 3 contracts
Activity concentrated in well-located, lifestyle-driven developments with pricing aligned to current market conditions, indicating buyers remain highly selective but ready to transact when value is clear.
Howard Hanna NYC brings the nation’s largest independent and family-owned brokerage to New York City, uniting the strength of a national network with the insight and sophistication of a local firm. Formed through joining forces with Elegran Real Estate, Howard Hanna NYC delivers a seamless, full-service experience backed by more than 15,000 agents across 500 offices in 14 states. The firm’s forward-thinking, agent-first culture continues to shape the future of real estate across Manhattan and the Tri-State area.Learn more at www.howardhannanyc.com.
Her experience, expertise, and engaging personality make Sonal the perfect combination of advisor, advocate, and strategist. She is the proud owner of several NYC properties and a skilled negotiator with a deep understanding of people and sharp instincts about market trends.
