A Tale of Two Boroughs: Manhattan Heats Up, Brooklyn Holds Steady

Over the past month, Manhattan has been building momentum, while Brooklyn is showing signs of moderation in contract activity. Manhattan has outpaced last year’s performance, averaging 14% more signed contracts over the past four weeks compared to the same period in 2024. In contrast, Brooklyn has trailed, averaging 6% fewer contracts than last year.

This week, Manhattan recorded 281 signed contracts—the second-highest weekly total of 2025 and the strongest since spring 2023, further signaling buyer confidence. Brooklyn held steady with 129 signed contracts, maintaining its 10-week trend of consistent activity in the 120–130 range.

At the same time, new supply surged across both boroughs as the spring market hit full stride. Manhattan welcomed 523 new listings—its second-highest weekly total of the year—while Brooklyn saw 290 new listings, marking its highest weekly supply in 2025. This continues a month-long trend: both boroughs have averaged 14% more new listings per week compared to the same stretch in 2024.

The consistent influx of fresh inventory gives buyers more choices and fuels a healthier, more balanced market environment.

Despite strong housing data, there are storm clouds on the economic front. A new wave of tariffs and a sharp sell-off in the equities market drove mortgage rates down by 15 basis points this week. While lower rates may provide slight relief for some buyers, they come at the (expensive) cost of mounting economic uncertainty—a tradeoff that could erode confidence and dampen buyer and seller activity if volatility persists.

The Elegran | Forbes Global Properties NYC Consumer Sentiment Index increased from +45 to +47, signaling a cautiously optimistic but steady citywide outlook.

Manhattan Supply

Inventory climbed 1.6% this week to 6,667 active listings, as 523 new homes hit the market—the second-highest weekly influx of the year.

That’s a 20% jump in new listings week-over-week, well above 2024’s average and outpacing last year’s pace. This steady rise in supply is giving buyers more choices and helping the market absorb growing demand—signs of a healthier, more balanced landscape taking shape.

Brooklyn Supply

Active listings rose nearly 3% this week to 3,263, driven by 290 new homes hitting the market—the highest weekly total so far this year.

That’s a 28% increase in new listings week-over-week, well above the 2024 average and outpacing the same period last year. The uptick in supply is a strong signal that sellers are active and that market momentum is building across the borough.

Manhattan Pending Sales: Pending sales increased by 4% to 3,096. 

Brooklyn Pending Sales: Pending sales increased by 1.85% to 1,868.

Manhattan Consumer Sentiment

281 contracts were signed last week—marking the second-highest weekly total of 2025 and the second-strongest week since spring 2023.

The 6% week-over-week increase signals growing buyer confidence and momentum as we head into the spring market. Reflecting this shift, the Elegran | Forbes Global Properties Manhattan Consumer Sentiment Index ticked up from +31 to +39—its sixth consecutive week in positive territory—underscoring a more stable and optimistic outlook among buyers.

Brooklyn Consumer Sentiment

129 contracts were signed this week, a 1% uptick from the prior period, nudging the Elegran | Forbes Global Properties Brooklyn Consumer Sentiment Index up from +73 to +74.

Contract volume remains within the borough’s recently observed weekly range of 120–130, reflecting stable buyer engagement. However, the first week of April opened 6% below the same week in 2024—and over the past four weeks, contract activity has averaged about 6% less than last year, suggesting a more tempered pace heading into spring.