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April Come She Will…

Well, to say it’s been an interesting April so far might be a bit of an understatement.
Despite the economic uncertainty ushered in by this week’s headlines, it’s still a little early to start making predictions about what comes next. Spring is here, the weather’s looking up, and the Mets home opener is today—so I plan to take a deep breath, listen to some S&G and focus on what’s right in front of me.
 
It’s also worth remembering that in times like these, real estate—especially here in New York City—is often driven as much by long-term lifestyle needs and local supply-demand dynamics as by short-term global fluctuations. So, with that… I bring you this month’s edition of my newsletter.
 

Brooklyn and Manhattan – April 2025

As we enter spring, both Manhattan and Brooklyn are showing signs of renewed momentum across all segments of the residential market. While macroeconomic factors like interest rates and inventory constraints continue to influence buyer and seller behavior, the month-over-month data across most chart indicators reflect an encouraging rebound in buyer interest, listing activity, and deal flow. However, buyers remain value-conscious, and sellers who are well-aligned on pricing continue to see the strongest results.
 

Brooklyn Market Summary

Brooklyn remains resilient, with strong demand across co-op, condo, and townhouse segments. Listing volume has increased in line with seasonal expectations, yet total supply remains historically tight in many neighborhoods. As a result, pricing power has returned in select submarkets.
 
Liquidity has increased and listing discounts remain modest. The narrowing gap between asking and closing prices suggests that accurately priced homes, on average, are achieving near-asking results. For certain sub markets, particularly in brownstone neighborhoods, listing success is strong and properties are going for well over asking price.
 
Brooklyn condos and coops continue to benefit, in general, from lower price points relative to Manhattan, drawing interest from first-time buyers and trade-up families.
 

Manhattan Market Summary

In Manhattan, the real estate market is showing clear signs of seasonal recovery. Inventory has ticked up modestly, especially among condos. Negotiating leverage has shifted toward sellers month-over-month, particularly in the co-op segment, where buyer engagement is stronger and competition remains limited.
 
Days on Market for co-ops has declined, showing faster transaction velocity for well-priced listings. Listing success is improving and price discounts are narrowing. Price per square foot for co-ops has seen modest upward momentum, while condos continue to demand a premium, albeit with slightly longer timeframes to sell.
 

Neighborhood Focus: Park Slope, Brooklyn

Park Slope continues to outperform borough-wide metrics, driven by tight inventory, desirable housing stock, and strong demand from those prioritizing neighborhood amenities and character.
 
New listings are being quickly absorbed, and median days on market have declined from earlier this year. The supply/demand imbalance in Park Slope is higher than for Brooklyn as a whole, indicating strong sales flow and seller leverage.
 
Co-ops in Park Slope remain a standout segment, with buyers responding well to pre-war detail, spacious layouts, and proximity to Prospect Park. The PPSF has remained stable, and bidding wars exist for turnkey properties.
 
Buyers are especially responsive to homes that are well-maintained and staged appropriately. Sellers in Park Slope should continue to benefit from well-targeted marketing and accurate pricing, particularly if listed during the spring peak.
 

Conclusion

April data confirms that the spring market is gaining strength across Manhattan and Brooklyn. Sellers who invest in presentation and pricing strategy are being rewarded, especially in co-op segments where competition remains limited. Buyers are back in the market with urgency, but are showing discernment, making it critical to launch listings with maximum impact. Park Slope stands out as a leading submarket with strong fundamentals and an engaged buyer base.
 
As we look ahead to May, we anticipate continued momentum in both boroughs, setting the stage for a robust Q2.
 
Beyond market insights, this month’s newsletter includes curated articles and local events that I hope you’ll find useful.
 
Have a great month, and please reach out if I can assist in any way!
 
All the Best,
Steve