Manhattan: Demand Building Despite Limited Supply
Supply (Active Inventory): Manhattan is sitting at 6,761 active listings, up 1.3% on the week but still down 8.5% year-over-year, and notably below the five-year supply range. Even with spring underway, we’re still operating in a structurally lean inventory environment.
Courtesy of UrbanDigs.com
One detail worth calling out: 40% of Manhattan inventory is stale (90+ days), representing roughly 2,670 listings. That’s a big number, and it matters because it creates opportunity for buyers who are willing to target aged inventory with motivated sellers.
Demand (Liquidity Pace): The 30-day pace of contracts rose to 1,162, up 5.7% week-over-week and 10.1% year-over-year. That’s one of the more encouraging signals we’ve seen recently, and it suggests this spring is gaining traction even as we head into early June.
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Weekly New Listings: Weekly new listings came in at 324, down 24.8% from last week and down 3.0% year-over-year. Translation: new supply isn’t flooding in. The pipeline is thinner than many buyers hope for, which is why correctly priced new listings still get immediate attention.
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Weekly Contracts Signed: Manhattan printed 302 contracts signed this week, up 18.9% week-over-week and 29.6% year-over-year. That’s a strong week by any recent-year standard, and it reinforces that buyers are still signing when the pricing and product line up.
Courtesy of UrbanDigs.com
Brooklyn: Late-Spring Surge in Contracts
Supply (Active Inventory): Brooklyn inventory is at 3,736 active listings, up 2.5% on the week and up 4.8% year-over-year. Brooklyn is building supply more than Manhattan, but it’s still below the bigger peaks we saw earlier in the decade.
Courtesy of UrbanDigs.com
Brooklyn has a similar “two-track” inventory profile right now. 41% of listings are 90+ days old (about 1,550 listings). That’s meaningful leverage for buyers who are patient and targeted.
Demand (Liquidity Pace): Brooklyn’s 30-day contract activity jumped to 731, up 13.3% week-over-week and 12.1% year-over-year. That’s a notable flip from the “sideways” feel of the last couple years, and it suggests Brooklyn demand is finally coming back online as we head into peak season.
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Weekly New Listings: Brooklyn had 198 new listings, down 7.9% week-over-week but up 5.9% year-over-year. New supply is arriving, but seasonality is starting to roll over as we approach summer.
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Weekly Contracts Signed: Brooklyn posted 209 contracts signed, up 49.3% week-over-week and 37.5% year-over-year. That’s a huge weekly move. One week doesn’t make a trend, but if we hold anywhere near these levels, it’s a strong signal that Brooklyn spring is waking up in a real way.
Courtesy of UrbanDigs.com
Where Buyers Are Competing
Manhattan: Competition is strongest in the $1M–$2M tier, where the over-ask share is highest. In other words, the “meat and potatoes” market is where bidding pressure is showing up most consistently right now.
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Brooklyn: Brooklyn is showing a different kind of intensity. The standout is the $4M–$10M segment, where a very high share of sales are trading over ask, which speaks to how location-specific, scarcity-driven, and competitive certain luxury Brooklyn pockets can be.
Courtesy of UrbanDigs.com
What to Watch
For buyers: In both boroughs, the best leverage is still in the stale inventory. If a listing has been sitting 90+ days, there’s usually a reason, and that’s where negotiation is most likely to land. At the same time, if you’re shopping in the most competitive price bands (Manhattan $1M–$2M, Brooklyn sub-$2M), expect to move decisively when the right home hits.
For sellers: This is a market that’s rewarding correct pricing and clean presentation. Inventory is tight enough to create real attention, and contract activity is clearly there, but buyers aren’t overpaying for “almost right.” If you need to make an adjustment, do it while demand is still strongest in early June.
We would be happy to have a deeper discussion if real estate is on your mind. Feel free to contact us anytime!