Brooklyn Leads NYC Market Surge as Manhattan Holds Steady Ahead of September

New York City’s residential market is showing renewed strength as summer winds down. This week, the Elegran NYC Consumer Sentiment Index jumped from 28% to 41%, signaling confidence levels well above pre-pandemic benchmarks. Manhattan remains steady with resilient contract activity despite tight supply, while Brooklyn recorded one of its strongest contract weeks of the year—outpacing seasonal expectations and signaling a powerful lead-in to the fall market.

For buyers, the window of opportunity is narrowing quickly. Manhattan’s twelve-week supply decline is fueling competitive bidding, making preparation essential for those entering the market. In Brooklyn, surging contract volume highlights pent-up demand for larger, modern homes—suggesting sellers who list now could benefit from heightened buyer urgency. With September historically marking a wave of new inventory, both boroughs are positioned for a dynamic post–Labor Day market where timing and pricing strategy will be key.

Manhattan Supply

Inventory tightened for the twelfth consecutive week, now at 5,904 homes (–3.5% WoW). New listings dropped to 128 units, down 15% from last week and 9% below last year. While the year-over-year gap remains small (–1.3%), all eyes are on September when a seasonal listing bump could rebalance market conditions.

Brooklyn Supply

Brooklyn inventory also trended lower, falling 2.4% to 3,270 homes. New listings held steady at 129 units - unchanged week-over-week and slightly ahead of last year (+2%). Overall supply is 4% higher than a year ago, yet conditions still favor sellers until more inventory arrives after Labor Day.

Manhattan Pending Sales: Pending sales eased 1% to 3,188 units, marking the eighth consecutive weekly decline. The slowdown reflects seasonality more than demand, with buyers largely waiting for fresh September inventory.

Brooklyn Pending Sales: Brooklyn pending sales ticked up 0.6% to 1,997 contracts, breaking an eight-week slide and hinting at renewed buyer activity ahead of fall.

Manhattan Consumer Sentiment

Momentum in Manhattan remains firm. Signed contracts rose to 209 this week (+5% WoW, +8% YoY). The Elegran Manhattan Consumer Sentiment Index improved from +10 to +15, highlighting an active late-summer pace despite historically thin supply. Buyer urgency is being fueled by limited options, suggesting September could bring competitive bidding once new listings arrive.

Brooklyn Consumer Sentiment

Brooklyn outperformed expectations, recording 153 signed contracts (+26% WoW, +23% YoY). The Elegran Brooklyn Consumer Sentiment Index jumped from +67 to +108 - one of the largest single-week gains of 2025. This surge underscores strong buyer demand for larger layouts and renovated homes in desirable neighborhoods. If momentum continues, Brooklyn could lead the post–Labor Day market in contract activity.

New Development Insights 

Marketproof reported that 36 new development contracts were signed in 31 buildings this week. The following buildings were the top-selling new developments of the week:

• The Greenwich By Rafael Vinoly (Financial District) and The Solaire (Battery Park City) each signed 3 contracts
• The Abbey (Fort Greene) and Olympia Dumbo (Dumbo) 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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Welcome to Elegran, where our mission is to revolutionize the world of real estate. Founded in 2008 by Michael Rossi, our journey began with an unwavering drive for motivation, innovation, and a genuine care for our clients.

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