New York City’s real estate market is hitting its stride this spring, powered by a rare but welcome combination: rising supply, strong demand, and growing consumer confidence. The defining theme of 2025? Stability—measured, sustained, and quietly strategic.

In Manhattan, 255 contracts were signed this week—a 24% increase from last week and 26% above the same time last year. Inventory also climbed 2.4% to 7,193 active listings, with new listings up 7% week-over-week and 6% year-over-year. This steady influx of supply reflects growing seller confidence and is helping normalize market activity without tipping the scales toward buyers.

Brooklyn continues to show strength as well. The borough recorded 156 contracts this week—an 8% weekly gain and 16% higher than last year. Inventory rose 1.4% to 3,455 listings, driven by 280 new-to-market listings—one of the strongest weekly inflows in recent memory. Buyer appetite remains intense, especially in competitive neighborhoods where quality homes continue to command attention and multiple offers.

As a result, the Elegran | Forbes Global Properties NYC Consumer Sentiment Index rose from +18 to +32—a clear sign that momentum is building across both boroughs.

As Forbes spotlighted this month, the Manhattan market has shifted from volatility to discipline. “After years of feast and famine, Manhattan real estate is no longer lurching between extremes,” said Elegran’s Managing Director, Jared Antin. “It’s now operating at a measured, sustainable pace.”

That equilibrium attracts a different kind of buyer—those motivated by life transitions, legacy planning, and long-term value. In today’s uncertain macro environment, real estate is offering something rare: stability in the face of noise. Or, as Forbes aptly put it, “Stability may lack the fireworks of a bull stampede, yet it may prove more profitable.”

 Read the full Forbes article: What’s Next for Manhattan Real Estate? Stability.

Manhattan Supply

Manhattan's residential inventory increased to 7,193 active listings this week—a notable 2.4% climb. New listings were up 7% from last week and 6% higher than the same period last year. Spring inventory from March to early May has averaged 8% above last year's levels, indicating sustained seller confidence. This measured expansion is supporting healthy transaction volume without tipping market dynamics in favor of buyers.

Brooklyn Supply

Brooklyn's inventory edged up by 1.4% this week to 3,455 active listings, as 280 new properties entered the market, marking the second-highest weekly new listing count this year and one of the highest in recent years. This represents a 1% increase in new listings from the previous week, placing current inventory at the upper end of Brooklyn's typical spring range.

Despite the expanding supply, strong demand for residential properties in Brooklyn continues to limit buyer negotiating power for well-priced homes. The borough's supply-demand balance remains tilted toward sellers, particularly in the most desirable neighborhoods.

Manhattan Pending Sales: Pending sales remained virtually unchanged at 3,262. 

Brooklyn Pending Sales: Pending sales increased by 3% to 2,004.

Manhattan Consumer Sentiment

Manhattan contract activity showed significant strength this week, with 255 contracts signed—a 24% jump from last week and 26% above the same time last year. This substantial improvement pushed the Elegran | Forbes Global Properties Manhattan Consumer Sentiment Index from -19% to +5%, signaling a convincing return to normalized market activity despite ongoing economic uncertainties. After experiencing dramatic swings in contract volume over recent years, Manhattan is displaying encouraging signs of stabilization.

Brooklyn Consumer Sentiment

Brooklyn logged 156 contracts this week—an 8% weekly gain and a 16% year-over-year jump—pushing the Elegran | Forbes Global Properties Brooklyn Consumer Sentiment Index higher from +75 to +90. After hovering in the 120–130 range for much of early spring, contract activity has decisively broken out, signaling renewed urgency among buyers and sustained appeal across price points.

New Development Insights 

Marketproof reported that 42 new development contracts were signed in 34 buildings this week. The following buildings were the top-selling new developments of the week:

• The Armorie (Nomad) signed 6 contracts

• Monogram New York (Turtle Bay) signed 4 contracts.