Inventory growth continued this week. Manhattan saw 355 new listings, an 11% increase, bringing the total active inventory to 5,685 units. Yet, contract signings fell 12% to 187 deals. 

Brooklyn remained more resilient, with 186 new listings—a 36% surge—while contract signings dipped 5% to 121 deals. Strong absorption rates kept the borough's total active inventory nearly unchanged at 2,868 units.

As both boroughs experienced a decline in contract volume, the Elegran | Forbes Global Properties NYC Consumer Sentiment Index dropped from +28 to +13 this week. With fresh inventory entering the market, pricing and strategic positioning will be key for sellers looking to attract buyers in today’s market.

Manhattan Supply

Seller confidence is rising in Manhattan, with 355 new listings hitting the market this week—an 11% uptick from last week. This fresh inventory has pushed total active listings to 5,685 units, a 1.54% increase. Buyers may find more opportunities as supply builds, though well-priced properties continue to move quickly.

Brooklyn Supply

Brooklyn’s market gained momentum this week, with 186 new listings—a 36% jump from last week. Yet, high absorption rates kept total inventory growth minimal, up just 0.56% to 2,868 listings. The swift turnover of new inventory highlights Brooklyn’s strong market fundamentals and sustained buyer demand, reinforcing the borough’s competitive landscape.

Manhattan Pending Sales: Pending sales decreased by 1.6% to 2,700 as recent contract activity has not kept pace with recent closings. 

Brooklyn Pending Sales: Pending sales increased by nearly 1% to 1,807. 

Manhattan Consumer Sentiment

The Elegran | Forbes Global Properties Manhattan Consumer Sentiment Index declined from +5 to -7 this week, as 187 contracts were signed, 12% fewer than last week.

Brooklyn Consumer Sentiment

Despite a 5% dip in contract signings to 121, Brooklyn’s market remains resilient. The Elegran | Forbes Global Properties Brooklyn Consumer Sentiment Index held strong at +64, down slightly from +73 but still signaling robust market confidence. This sustained optimism underscores Brooklyn’s enduring appeal and buyer confidence in its long-term value.

New Development Insights 

Marketproof reported that 41 new development contracts were signed in 29 buildings this week. The following buildings were the top-selling new developments of the week:

- Bergen Brooklyn (Boerum Hill) signed five contracts

- 720 West End Avenue (Upper West Side) signed three 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.

About Us

Welcome to Elegran | Forbes Global Properties, 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.

As an independently owned brokerage, we pride ourselves on our elite team of "advisors," offering a personalized touch that goes above and beyond the traditional real estate experience. Armed with robust data insights, we empower our clients to make informed decisions that lead to success.

Distinguished as the exclusive member of the invitation-only Forbes Global Properties network in NYC, Elegran proudly stands at the forefront of excellence. This exclusive partnership broadens our horizons, enabling us to connect buyers, sellers, and investors with extraordinary luxury properties not only in New York City but across the globe.

Our passion lies in turning your real estate dreams into reality, and we are committed to providing exceptional service at every step of the journey.

Are you ready to experience the Elegran difference? Dive into the possibilities at www.elegran.com and embark on an unforgettable real estate adventure with us.