In this month’s edition of my newsletter, I’ll recap recent market performance, share expectations for the year ahead, and highlight fun upcoming events happening locally
Brooklyn & Manhattan Weekly Market Update
It’s been a busy winter in Brooklyn and Manhattan, with strong buyer demand keeping inventory tight. Many of the listings my clients have focused on have moved quickly—often with competition—and February saw fewer new listings compared to January. However, in the past week, new listing activity has picked up noticeably.
Looking at the data snapshot below, weekly new listings surged—Brooklyn saw a 30.87% increase over the prior week, while Manhattan rose 28.1%. This could mark the first wave of spring inventory, a welcome sign for many buyers who have been searching for the past two months.
Supply New Listings (Mth/Wk) Contracts Signed (Mth/Wk) | Brooklyn 2,948 units (+1.9% MoM, +3.5% YoY) 850 / 265 units (+13.5% MoM, +38.7% WoW) 566 / 138 units (+18.7% MoM, +8.70% WoW, +1.8% YoY) | Manhattan 5,906 units (+5.7% MoM, -3.8% YoY) 1,653 / 474 units (+32.5% MoM, +28.1% WoW) 951 / 248 units (+24.6% MoM, +12.2% WoW, +2.6% YoY) |
Several factors continue to fuel strong buyer demand:
- Mortgage rates have dipped to a four-month low
- Wall Street bonuses have been strong
- Return to office is normalizing NYC back to pre-pandemic levels
- Rental costs remain high
- High levels of liquidity with strength in luxury sales and cash purchases
- Potential price inflation from tariffs could push home values higher
That said, pricing and marketing still matter. Well-priced, well-marketed listings often disappear after the first or second open house, while mispriced or poorly presented homes linger on the market with price reductions.
Beyond market insights, this month’s newsletter includes curated articles and local events that I hope you’ll find valuable.
If you’re thinking about buying or selling this spring, let’s connect. Now is the time to strategize and take advantage of evolving market conditions.
Have a great month, and feel free to reach out anytime!
All the Best,