Manhattan Snaps Back as Brooklyn Sentiment Soars
The post-holiday rebound arrived right on schedule. Manhattan contract activity jumped 28% in the week after July 4th, pending sales rose in both boroughs, and Brooklyn’s sentiment index climbed to a remarkable +114% — all while inventory kept shrinking, pushing Manhattan’s supply deficit to 9% below last year. If the market took a breather over the holiday, this week it got back to work.
The Howard Hanna NYC Consumer Sentiment Index climbed from +30% to +47% — a second consecutive weekly improvement that lifts the index to its strongest level of the summer.
What This Means for Summer 2026
For buyers: The hoped-for summer lull is proving short-lived. Contracts snapped back the moment the holiday passed, and Manhattan inventory has now fallen three straight weeks to 9% below last year. New listings did rebound — up 28% in Manhattan this week — so fresh product is arriving; the takeaway is to move decisively when the right home appears, because well-priced listings are being absorbed quickly.
For sellers: Demand returned faster than the competition. Manhattan new-listing flow remains 22% below last year and Brooklyn’s is down 8% — so a home entering the market now meets rebounding buyer activity with comparatively little to compete against. Accurate pricing remains the gate: absorption favors homes priced to the market, not ahead of it.
Overall, with contracts rebounding, pipelines rebuilding, and both boroughs in positive sentiment territory for the first time this summer, the market heads into deep summer carrying more momentum than the season usually allows.
Manhattan Supply: Third Straight Weekly Decline Pushes the Deficit to 9%
Manhattan active inventory fell to 6,187 homes (−1.3% week-over-week | −9.0% year-over-year) — a third consecutive weekly decline that widens the year-over-year deficit to 9%, the deepest of the season. New listings totaled 221 units (+28% week-over-week | −22% year-over-year) — the post-holiday rebound in seller activity we anticipated last week, though flow remains well below last year’s pace.
The rebound cuts both ways. Buyers finally have more fresh product to choose from, but with total inventory still falling, demand is absorbing supply faster than it arrives. For sellers, this is a favorable window: buyer activity has returned faster than the competition.
Brooklyn Supply: Inventory Slips as New Listings Thin Out
Brooklyn inventory decreased to 3,631 homes (−0.8% week-over-week | +2.5% year-over-year) — a modest weekly decline set against continued, but narrowing, year-over-year growth. New listings decreased to 179 units (−7.7% week-over-week | −8% year-over-year) — a notable pullback in weekly listing volume that now also trails last year’s pace.
Brooklyn’s supply cushion keeps narrowing — year-over-year growth has slowed to +2.5% from over 4% earlier this month — and with contract activity running well ahead of last year, the borough is tightening from both sides. Buyers still have more room here than in Manhattan; sellers who list now face thinning competition and rising demand.
Pending Sales: The Pipeline Rebuilds After the Holiday Reset
The forward pipeline rebuilt this week, recovering from the holiday-week reset with gains in both boroughs — a sign that deals kept progressing toward contract as summer activity resumed.
- Manhattan pending sales: up +2.9% week-over-week to 3,856 units — a steady recovery that recoups part of the prior week’s decline.
- Brooklyn pending sales: up +4.5% week-over-week to 2,293 units — a notable build that restores the pipeline to its pre-holiday level.
Photo by Rihards Gederts | Howard Hanna NYC
Manhattan Consumer Sentiment: Contracts Snap Back — Index Turns Positive at +24%
Manhattan recorded 227 signed contracts (+28% week-over-week | +7% year-over-year) — a pronounced post-holiday rebound that lifts activity back above last year’s pace.
The Howard Hanna NYC Manhattan Consumer Sentiment Index improved from 0% to +24%, crossing from neutral into clearly positive territory — its first positive reading of the summer. Alongside the contract rebound and a rebuilding pipeline, the signal points to demand strengthening into mid-July rather than fading.
Brooklyn Consumer Sentiment: Another Surge — Index Climbs to +114%
Brooklyn recorded 157 signed contracts (+11% week-over-week | +37% year-over-year) — extending last week’s surge with double-digit growth on both timeframes.
The Howard Hanna NYC Brooklyn Consumer Sentiment Index surged from +94% to +114%, an exceptional reading that cements Brooklyn’s position as the demand engine of the summer market.
New Development Insights: Nomad and Astoria Lead a Strong Follow-Through Week
According to Marketproof data, new development activity recorded 38 signed contracts across 25 buildings during the week of July 13, 2026 — easing from the prior week’s summer-high 46 but still one of the strongest weekly tallies of the season. Top-performing developments included:
- The Emmet Building (Nomad) with three signed contracts — returning to the top of the leaderboard for the first time since late June
- Twenty8 Astoria (Astoria, Queens) with three signed contracts — a notable outer-borough appearance among the weekly leaders
Demand continues to concentrate in well-located, lifestyle-oriented product with strong pricing alignment — and this week’s Queens showing underscores how far that appetite now extends beyond the Manhattan core.
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