Signs of Strength: NYC Buyers Stay Active as Inventory Begins to Tighten

Manhattan Supply

For the first time this year, the number of homes for sale in Manhattan dipped week-over-week, down 0.7% to 7,359 active listings. While a small shift, it could mark a meaningful turning point: the peak of spring inventory may now be behind us.

Just 331 new listings came to market this week, a 14% drop from last week and 6% fewer than this time last year. Inventory had been rising steadily for months, continuing three weeks longer than it did last year—but now appears to be leveling off.

With fewer fresh listings and strong buyer activity, the balance is starting to shift. Buyers still have options, but the window of peak spring inventory is beginning to close.

Brooklyn Supply

Brooklyn’s housing supply stayed virtually flat this week, rising by just three listings to a total of 3,586 homes for sale. New inventory coming to market also remained stable, with 204 new listings—just 1% fewer than last week, but down 13% compared to this time last year.

In short, not much has changed week-over-week, but year-over-year, there’s noticeably less new inventory hitting the market. For buyers, that means slightly fewer fresh options to choose from, and for sellers, it underscores the value of standing out in a market with tighter supply.

Manhattan Pending Sales: Pending sales increased by 0.6% to 3,383. 

Brooklyn Pending Sales: Pending sales increased by nearly 0.4% to 2,131.

Manhattan Consumer Sentiment

Buyer sentiment in Manhattan is bouncing back. This week, Elegran’s Manhattan Consumer Sentiment Index jumped from -22 to -8, its sharpest improvement in weeks, as the market recovers from the typical slowdown over Memorial Day. While the sentiment index remains slightly in negative territory, the rebound signals renewed confidence and a stabilizing outlook.

We’re seeing that shift play out in real-time: 227 contracts were signed this week, a 14% jump from the week prior. While some of that bump is seasonal, the bigger takeaway is that contract activity is now 2% higher than this time last year—a clear sign that demand is holding strong despite economic uncertainty.

The bottom line? Manhattan buyers are showing up, and the summer market is gaining strength.

Brooklyn Consumer Sentiment

Brooklyn’s market is entering summer on solid footing. Buyer confidence remains high, with Elegran’s Brooklyn Consumer Sentiment Index ticking up from +76 to +78—well above Manhattan’s levels and a strong signal that local buyers are still feeling optimistic.

This week saw 147 contracts signed, a slight 1% uptick from last week. While that’s 5% below the same week last year, the sentiment data tells a deeper story: buyers aren’t pulling back—they’re just being more selective. Well-priced, well-positioned homes are still moving, and overall engagement remains strong.

In short, Brooklyn buyers are active, confident, and focused—and the summer season is off to a steady start.

New Development Insights 

Marketproof reported that 41 new development contracts were signed in 32 buildings this week. The following buildings were the top-selling new developments of the week:

- Vesta (Hunters Point) signed 6 contracts

- The Willow (Kips Bay), 419 Manhattan Avenue (Greenpoint), The Sophie (Astoria-Ditmars), and Oasis Astoria (Astoria) each signed 2 contracts.