NYC Market Holds Its Ground Amid Volatility: Manhattan Gains, Brooklyn Holds Steady

Despite ongoing macroeconomic turbulence—ranging from tariff talks to rate swings—New York City’s real estate market remains remarkably resilient.

In Manhattan, contract activity climbed 6% week-over-week and is now 22% higher than the same period last year, pushing consumer sentiment back into positive territory. Inventory is rising at a controlled pace, helping to maintain balance between buyers and sellers this spring.

In Brooklyn, contract activity dipped 12% from the prior week but remains firmly within the borough’s spring range this year. While buyer enthusiasm has softened slightly under the weight of elevated mortgage rates, demand remains steady and inventory stable.

Both boroughs reflect a larger truth: NYC isn’t booming or busting—it’s holding steady. Contract velocity remains healthy, and in Manhattan, prices are beginning to inch higher. In a world full of noise, that kind of consistency is a signal in itself.

Manhattan Supply

Manhattan’s residential inventory inched up to 6,844 active listings this week—a modest 0.5% increase. While new listings dropped 26% from last week, the bigger picture tells a more compelling story: new inventory this March and April is averaging 8% higher than last year, signaling a steady stream of seller activity.

Yet, even with this growth, the total supply remains less than 1% above 2024 levels. This signals a market that’s expanding at a measured, sustainable pace—enough to support healthy transaction volume, but not enough to tip the balance in favor of buyers. In short, we’re seeing more listings, but not enough to diminish the upper pressure on prices or oversupply concerns.

Brooklyn Supply

Brooklyn’s inventory held steady this week at 3,315 active listings—up by just 2 net listings—even as 162 new properties hit the market. That’s a 26% drop in new listings from the week prior, landing at the lower end of Brooklyn’s typical spring range. This stabilization in total supply, paired with a noticeable slowdown in new listings, could mark the beginning of a shift. If this trend continues, we may see market dynamics start to tilt back in favor of sellers—particularly in high-demand price points and neighborhoods. It’s a subtle signal, but one worth watching closely.

Manhattan Pending Sales: Pending sales increased by nearly 1% to 3,200. 

Brooklyn Pending Sales: Pending sales increased by 0.5% to 1,920.

Manhattan Consumer Sentiment

Manhattan contract activity showed quiet strength this week, with 248 contracts signed, up 6% from last week and 22% above the same time last year. This uptick pushed the Elegran | Forbes Global Properties Manhattan Consumer Sentiment Index from -5% to +2%, signaling a return to normalized market activity despite ongoing economic volatility. After years of dramatic swings in contract volume, Manhattan is showing signs of balance. This spring, deal flow has held steady at average levels, underscoring that even in uncertain times, confidence in Manhattan real estate remains intact.

Brooklyn Consumer Sentiment

Brooklyn saw 130 contracts signed this week—a 12% dip from last week and 10% below the same period last year. As a result, the Elegran | Forbes Global Properties Brooklyn Consumer Sentiment Index eased from +78 to +56.

While activity has cooled slightly, contract volume remains squarely within Brooklyn’s typical weekly range of 120–130, underscoring the borough’s enduring demand. Still, elevated mortgage rates and market uncertainty are starting to slow the market down, especially in price-sensitive segments. The question now isn’t whether buyers are active—it’s how long this steady cadence can hold in the face of ongoing economic headwinds.

New Development Insights 

Marketproof reported that 36 new development contracts were signed in 34 buildings this week. The following buildings were the top-selling new developments of the week:

- One Wall Street (Financial District), One11 Residences (Midtown), One United Nations Park (Murray Hill), and 720 West End Avenue (Upper West Side) each signed three contracts.

- 1048 Flushing Ave (Bushwick), Brooklyn Point (Downtown Brooklyn), and Kensington Manor (Kensington) each signed two contracts.