Manhattan and Brooklyn’s residential markets show signs of growing stability and optimism as both markets maintain positive momentum this week.

In Manhattan, 213 contracts were signed, marking a 5% increase from last week’s 209 deals. Total active listings inched up by 0.43% to 5,599 units, even as new inventory slowed with just 320 new listings—a 5% drop from the previous week.

In Brooklyn, contract activity rose by 2%, with 128 contracts signed this week compared to 126 last week. However, inventory constraints persist, as only 137 new listings entered the market—a 26% decline from the previous week—bringing total active listings down to 2,852 units (-1.25% week over week).

Takeaway: Both markets are seeing sustained buyer confidence and incremental gains in contract activity. Overall, the Elegran | Forbes Global Properties NYC Consumer Sentiment Index remained unchanged at +27.  However, tightening inventory, particularly in Brooklyn, could create a more competitive environment as the spring season approaches.

Manhattan Supply

This week, Manhattan’s residential real estate market saw 320 new listings, a 5% drop from the 338 added last week. Despite the dip in fresh inventory, total active listings increased slightly to 5,599 units, up 0.43% week-over-week.

Brooklyn Supply

Brooklyn’s residential market added just 137 new listings this week, a 26% decline from last week’s 185. This sharp drop in new inventory drove total active listings down to 2,852 units, marking a 1.25% week-over-week decrease. The continued decline in both new and total inventory is unusual for mid-February, a time when supply typically begins ramping up in preparation for the spring selling season.

Manhattan Pending Sales: Pending sales remained virtually unchanged at 2,744.

Brooklyn Pending Sales: Pending sales increased by 1.3% to 1,790.

Manhattan Consumer Sentiment

Manhattan’s residential market is gaining momentum once again, with 213 signed contracts this week—a 5% rise from last week’s 209 deals. The Elegran | Forbes Global Properties Manhattan Consumer Sentiment Index also climbed from +3 to +5, reflecting growing optimism among buyers. This is the second straight week of above-average activity, signaling a decisive shift away from the market’s slower performance earlier this year and pointing toward strengthening confidence as the spring season approaches.

Brooklyn Consumer Sentiment

Brooklyn’s residential market showed steady growth this week, with 128 contracts signed—a 2% increase from last week’s 126 deals. The Elegran | Forbes Global Properties Brooklyn Consumer Sentiment Index increased from +70 to +73, reinforcing its position in strong positive territory. Although the week-over-week gains are modest, the consistently high sentiment and gradual increase in contract activity reflect sustained buyer confidence, signaling resilience and stability in Brooklyn’s market as the spring season approaches.

New Development Insights 

Marketproof reported that 51 new development contracts were signed in 38 buildings this week. The following buildings were the top-selling new developments of the week:

- Enzo (Hunter’s Point) signed 7 contracts

- Bloom On 45th (Clinton) signed 4 contracts.