NYC Market Regains Momentum Ahead of Seasonal Slowdown

The New York City residential market continued its steady rhythm last week, balancing active buyer demand with a stabilizing flow of new listings. Manhattan’s inventory finally paused after seven weeks of expansion, while Brooklyn’s supply kept rising modestly. Consumer sentiment remains strong across both boroughs, showing confidence even as the market edges toward its late-fall transition.

The Howard Hanna Elegran NYC Consumer Sentiment Index climbed from +14% to +41%, marking a decisive uptick in optimism as the fall market matures. Transactional energy has firmed up across both boroughs, suggesting that the expected pre-holiday cooling may arrive later than usual this year.

Based on four-week contract and inventory trends, Manhattan and Brooklyn appear set for a steady handoff into November. Expect a mild deceleration in new listings but relatively firm buyer activity through early winter, particularly in price segments below $2M.

Manhattan Supply: A Controlled Correction

Inventory in Manhattan contracted slightly after seven weeks of growth, now at 6,924 homes (–0.1% WoW, +0.9% YoY). New listings edged up to 309 units (+2% WoW) but remained 10% below last year, reflecting restrained seller activity. This stable trajectory suggests Manhattan is settling into a balanced position - neither oversupplied nor tightening too sharply.

Brooklyn Supply: Early Surge Before Seasonal Cooldown

Brooklyn’s supply rose to 3,623 homes (+1.6% WoW, +5.2% YoY), continuing a modest three-week upward streak. New listings jumped to 214 units (+14% WoW, +256% YoY)—a significant pre-holiday push as sellers aim to capture late-season buyer attention.

Manhattan Pending Sales: Pending sales decreased -0.2% to 2,914 units.

Brooklyn Pending Sales: Brooklyn’s pending sales rose +0.6% to 1,803 units.

Manhattan Consumer Sentiment: Seasonal Pause, Not Pullback

Contract activity rose to 254 deals (+26% WoW, +7% YoY), pushing the Manhattan Consumer Sentiment index from +3% to +29%. This may represent one of the final bursts of fall activity before the expected November deceleration.

Brooklyn Consumer Sentiment: Short-Term Contraction, Underlying Strength  

Brooklyn saw 138 signed contracts (+24% WoW, +13% YoY), propelling the Brooklyn Consumer sentiment index to +79%. Despite cyclical pauses, the borough continues to show structural resilience - particularly in neighborhoods with strong transit access and high relative value per square foot.

New Development Insights 

Marketproof tracked 30 new development contracts across 27 buildings. Top performers included:

• The Lucia (Murray Hill) and Monogram New York (Turtle Bay) each signed 2 contracts

• Brooklyn Point (Downtown Brooklyn) and One Domino Square (Williamsburg) each signed 2 contracts.

If you would like to chat about the most recent market activity,

feel free to contact us at info@elegran.com or 

connect with one of our Advisors.

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