November 2026 EDITION - DATA THROUGH October 2026
Brooklyn Market Pulse ¹ November 2026
Metric | Value | vs Prior Year | vs Prior Month | Favors |
|---|---|---|---|---|
Demand (Contracts Signed) | 531 in October | ↓-4.3% | ↑+24.9% | BUYERS |
Median Listing Discount | 3.0% in October | ↓-0.5 pts | ↑+0.4 pts | SELLERS |
Median PPSF | $1,021 in October | ↑+3.1% | ↓-1.6% | NEUTRAL |
Sales Over Ask | 26.6% in August | ↓-2.1 pts | ↓-2.3 pts | SELLERS |
Supply | 3,789 in October | ↑+1.8% | ↑+0.5% | BUYERS |
Median Sale Price | $1.12M in October | ↑+13.0% | ↑+0.9% | SELLERS |
Median Days on Market | 64 in October | ↑+4.9% | ↑+4.9% | BUYERS |
Favors key: BUYERS · SELLERS · NEUTRAL. Arrows show direction only: green = up, red = down. “Sales Over Ask” lags an additional month; all other rows reflect October 2026. Data courtesy of UrbanDigs.
MEDIAN SALE PRICE BY BEDROOM, ALL BROOKLYN (OCTOBER, BY CLOSED DATE)
Brooklyn Holds Its Prices as the Pace Cools
Brooklyn's October was two stories. Prices are firm: the median sale price is $1.12M, up 13% on the year, and price per square foot is up 3%. Activity is softer: contracts rose 25% from a slow September but ran 4% below last October, price cuts were up 13% on the year and months of inventory rose to 4.1. The listing discount widened to 3.0%, still well inside Manhattan's 4.5%.
Bottom line: Brooklyn sellers still get their price on the right homes, but buyers have more time and more choice than they did this summer.
Market Snapshot: Five Numbers That Matter
- 531 contracts signed, up 25% from September and 4% below last October.
- $1.12M median sale price, up 13% year over year.
- $1,021 median PPSF, up 3% from last year.
- 3,789 active listings, 2% above last year.
- 752 price cuts, up 13% from last year.
Key Takeaways
- Demand is selective: the Market Pulse remains below seasonal averages, though pending sales are 4% ahead of last year.
- Supply is steady, not rising: new listings fell 17% from September and months of inventory sits at 4.1.
- By bedroom: condo 2BRs and 3BRs are up 10–11% on the year, while the thin 4BR+ tier fell.
Outlook
Expect a quieter November. With the Market Pulse below seasonal norms and jumbo rates still above 7%, price growth should slow and discounts may widen modestly into year-end.
For Sellers: The premium is narrowing. Price to recent per-foot comparables and expect buyers to take their time.
For Buyers: More choice and more time than this summer. Negotiate hardest on listings that have already cut.
Howard Hanna NYC Brooklyn Leverage Index
The Howard Hanna NYC Brooklyn Leverage Index blends four signals, supply, demand, median PPSF and listing discount, into one reading of who holds the leverage. Tightening supply, rising demand, firming PPSF and shrinking discounts point to sellers; the reverse points to buyers.
Signal | October 2026 Reading | Points To |
|---|---|---|
Supply | 3,789 listings, up 2% YoY | BUYERS |
Demand | 531 contracts, up 25% MoM, down 4% YoY | BUYERS |
Median PPSF | $1,021, up 3.1% YoY, down 1.6% MoM | NEUTRAL |
Listing Discount | 3.0%, still tighter than last year | SELLERS |
The index rose to 0.51 from a revised 0.37 as contracts rebounded, but it remains well below July's 1.23 peak. Supply above last year and a below-seasonal Market Pulse keep buyers in the game; the tight 3.0% discount still favors sellers. Brooklyn remains in equilibrium. Source: Howard Hanna NYC Leverage Index 2026, data courtesy of UrbanDigs.
Brooklyn Supply
3,789 | ↑+1.8% | ↑+0.5% | BUYERS |
active listings in October | vs prior year | vs prior month | Favors? |
Data & chart courtesy of UrbanDigs.
SUPPLY STEADY, SLIGHTLY ABOVE LAST YEAR
Active listings held at 3,789 in October, 2% above last year, as new listings fell 17% from September to 888.
Buyers: Selection is solid. Take time to compare.
Sellers: Competition is steady. Make the first two weeks count.
Brooklyn Demand
531 | ↓-4.3% | ↑+24.9% | BUYERS |
contracts signed in October | vs prior year | vs prior month | Favors? |
CONTRACTS REBOUND, BUT TRAIL LAST YEAR
Buyers signed 531 contracts in October, up 25% from September and 4% below last October. The Market Pulse is still below seasonal averages.
Buyers: Less bidding pressure than a year ago.
Sellers: Demand is there, but it is selective.
Brooklyn Median PPSF
$1,021 | ↑+3.1% | ↓-1.6% | NEUTRAL |
median price per square foot in October | vs prior year | vs prior month | Favors? |
PER-FOOT PRICING BACK ABOVE LAST YEAR
Median PPSF was $1,021, down 2% from September but up 3% from last year. Per-foot values are firm, not climbing.
Buyers: Negotiate on price per foot, not on the headline median.
Sellers: Anchor your price to per-foot comparables from the last 90 days.
Brooklyn Median Listing Discount
3.0% | ↓-0.5 pts | ↑+0.4 pts | SELLERS |
median listing discount in October | vs prior year | vs prior month | Favors? |
DISCOUNTS WIDEN SLIGHTLY TO 3.0%
The median discount widened to 3.0% in October but is still tighter than last year. On a $1.1M listing, that is about $33,000. Listings past 120 days negotiate around 9%.
Buyers: Expect to pay close to ask for the best homes; push harder on stale listings.
Sellers: Price right and you still sell near ask.
Rental Remarks
RENTS NEAR RECORD, INVENTORY TIGHTEST IN YEARS
Brooklyn's median asking rent was $3,945 in September, up 4% on the year, per StreetEasy. Rental inventory fell 18% from last year, the sharpest drop among the boroughs. Jonathan Miller's closed-lease data puts the median near $4,000, where it has held since February, with a third of new leases drawing bidding wars. Since October 1, rent-stabilized renewals are frozen at 0%; market-rate apartments are not affected.
Neighborhood | Asking Sep26 | MoM | YoY | Inventory | Inv YoY | Discount | Disc. YoY |
|---|---|---|---|---|---|---|---|
DUMBO | $5,895 | ↓-7.7% | ↑+7.6% | 188 | ↓-40.7% | 17.6% | ↓-36.0% |
Carroll Gardens | $5,495 | ↑+1.8% | ↑+11.0% | 123 | ↓-4.7% | 22.0% | ↑+1.1% |
Williamsburg | $5,041 | ↓-1.5% | ↑+2.3% | 1,334 | ↓-25.1% | 15.0% | ↓-16.3% |
Brooklyn Heights | $4,995 | ↓-0.1% | ↑+8.6% | 121 | ↓-21.9% | 21.5% | ↓-29.1% |
Greenpoint | $4,900 | ↓-0.5% | ↑+4.8% | 576 | ↓-16.0% | 20.7% | ↑+30.0% |
Boerum Hill | $4,800 | ↓-2.0% | ↓-1.6% | 138 | ↓-46.3% | 13.0% | ↑+86.2% |
Cobble Hill | $4,700 | ↓-4.1% | ↑+4.4% | 68 | ↓-8.1% | 7.4% | ↓-58.1% |
Park Slope | $4,700 | ↑+1.6% | ↑+10.6% | 377 | ↓-17.7% | 13.5% | ↓-19.5% |
Downtown Brooklyn | $4,695 | ↓-0.4% | ↑+6.1% | 737 | ↓-1.2% | 16.4% | ↓-4.3% |
Prospect Heights | $4,550 | ↑+1.1% | ↑+2.0% | 124 | ↓-35.8% | 8.9% | ↓-42.9% |
Gowanus | $4,500 | 0.0% | 0.0% | 390 | ↓-6.7% | 6.7% | ↓-47.4% |
Fort Greene | $4,325 | ↓-3.9% | ↓-11.1% | 276 | ↓-42.3% | 12.3% | ↓-1.9% |
Windsor Terrace | $4,300 | ↑+7.5% | ↑+7.6% | 89 | ↓-4.3% | 20.2% | ↑+10.6% |
Clinton Hill | $4,295 | ↓-2.4% | ↑+2.4% | 240 | ↓-30.8% | 18.8% | ↑+18.3% |
Crown Heights | $3,795 | 0.0% | ↑+9.2% | 834 | ↓-25.9% | 10.4% | ↓-19.1% |
Bushwick | $3,700 | ↓-2.6% | ↑+5.7% | 1,046 | ↓-29.1% | 15.2% | ↓-17.9% |
Greenwood | $3,600 | ↓-1.4% | ↓-2.7% | 117 | ↓-37.4% | 20.5% | ↓-12.8% |
Bedford-Stuyvesant | $3,595 | ↓-0.1% | ↑+7.3% | 1,295 | ↓-10.2% | 15.7% | ↓-19.8% |
Prospect Lefferts Gardens | $3,300 | ↓-2.8% | ↑+4.8% | 118 | ↓-34.1% | 5.9% | ↓-68.8% |
East New York | $3,250 | 0.0% | ↑+8.3% | 237 | ↑+94.3% | 3.8% | ↓-33.8% |
Coney Island | $3,220 | 0.0% | ↓-0.9% | 88 | ↓-38.0% | 14.8% | ↑+16.5% |
Flatbush | $3,199 | ↓-0.8% | ↑+3.2% | 789 | ↓-0.8% | 8.2% | ↓-23.8% |
Gravesend | $3,000 | ↑+5.3% | ↓-4.8% | 64 | ↓-28.9% | 3.1% | ↓-53.1% |
Ditmas Park | $2,995 | ↓-0.1% | ↑+7.0% | 112 | ↑+38.3% | 5.4% | ↓-51.8% |
East Flatbush | $2,850 | ↓-3.4% | ↓-5.0% | 285 | ↑+4.8% | 10.2% | ↓-20.9% |
Sheepshead Bay | $2,850 | ↑+1.8% | ↑+2.7% | 116 | ↑+41.5% | 9.5% | ↓-29.3% |
Midwood | $2,845 | ↑+1.6% | ↑+5.8% | 176 | ↓-14.6% | 11.4% | ↑+6.4% |
Kensington | $2,800 | ↓-3.4% | 0.0% | 106 | ↓-5.4% | 12.3% | ↑+24.9% |
Sunset Park | $2,800 | ↓-6.7% | 0.0% | 83 | ↓-22.4% | 14.5% | ↓-48.4% |
Bay Ridge | $2,695 | ↑+1.7% | ↑+12.3% | 156 | ↓-18.3% | 17.9% | ↑+31.9% |
DUMBO leads at $5,895, with Carroll Gardens ($5,495, up 11%) close behind. Bay Ridge (+12%) and Park Slope (+11%) post the biggest gains; Fort Greene is the soft spot, down 11%.
For Renters: Renewing is often the better deal. If you move, Fort Greene and Gravesend show the most room.
For Landlords: Demand is strong and supply is tight. Price renewals to keep good tenants.
Source: StreetEasy Market Data, September 2026 release · median asking rent, active rental inventory, discount share · full market, uncapped · 30 Brooklyn submarkets shown.
Cross-Check: Brooklyn Sales by Neighborhood (StreetEasy)
StreetEasy's September closings put the borough median at $1.10M, up 10% on the year. Carroll Gardens ($3.13M), Boerum Hill ($2.30M) and Borough Park ($1.97M) lead among neighborhoods with eight or more sales; Gravesend and Bay Ridge (about $600K) anchor the value end.
Source: StreetEasy Market Data, September 2026 release · median closed sale price.
Mortgage Remarks
Courtesy of the Federal Reserve Bank of St. Louis (FRED): Optimal Blue 30-Year Fixed Rate Jumbo Mortgage Index, daily through October 29, 2026. It peaked at 7.61% on October 21, the highest since November 2023, then eased to 7.16%.
THE FED HOLDS, RATES EASE FROM THE PEAK
The Fed held rates at 3.75%–4% on October 28, after September's hike, with two members voting for another increase. Markets now price a hike at the December 8–9 meeting. The bond market did the easing: the 10-year Treasury peaked at 5.31% on October 5, then slipped back below 5% after an AI-led stock selloff sent investors into bonds, closing October at 4.94%. Freddie Mac's 30-year average eased to 7.24%, and our jumbo APR tracker read 7.29% on November 1, down from 7.44% a month earlier.
Source: U.S. Department of the Treasury, Daily Treasury Par Yield Curve Rates, January 2024 to October 30, 2026; Howard Hanna NYC jumbo APR tracker.
Buyers: Rates eased from the October peak, about $50 a month less per $500K borrowed than on October 1. Brooklyn buyers finance more, so lock once you are in contract.
Sellers: Financed buyers are still cautious. Expect careful offers below $1.5M.
Consumer Sentiment
CONSUMER CONFIDENCE STUCK NEAR RECORD LOWS
The University of Michigan sentiment index was 48.0 in October, essentially unchanged from September and 10% below a year ago. Buying conditions for big-ticket items fell 18% on higher interest rates, and year-ahead inflation expectations rose to 4.7%. Higher is better; the long-run average is about 85.
Brooklyn feels it more. Its buyers rely more on mortgages, and the below-seasonal Market Pulse shows the caution.
Buyers: Low-confidence months mean less competition. If your finances are ready, use it.
Sellers: Expect careful buyers. Answer hesitation with comparables and clean disclosure, not panic cuts.
Investor Insights
Domestic Investors and Yield
Brooklyn's borough-wide gross yield of about 4.7% sits close to the 10-year Treasury, at a lower entry price than Manhattan. Focus on neighborhoods where rent covers more of the carrying cost.
The Investor Yield Map
Coney Island (8.3%) still tops Brooklyn, followed by Sheepshead Bay (6.8%) and Flatbush (5.9%). Sunset Park, Boerum Hill and Carroll Gardens sit near 2–2.5%, pure appreciation plays.
Method: gross yield = annualized StreetEasy median asking rent ÷ median asking price, both September 2026, same source and stage. A screening measure before property taxes, common charges, insurance and vacancy, not a cap rate. Submarkets with fewer than 50 active rentals or 30 active sale listings excluded.
Pied-à-Terre Surcharge: Bills Go Out as the Appeal Plays Out
The city is moving ahead with the surcharge while it appeals the September 29 ruling that ordered a redo of the rollout. The Appellate Division heard arguments on October 28 and appeared receptive to the city; a ruling is expected in early November. Separate lawsuits, including one from Wilbur Ross and Steve Wynn, challenge the tax itself as unconstitutional.
The exemption window closed October 13. Of roughly 17,000 owners first notified, about 11,000 applied and more than 6,800 have been exempted; fewer than 9,000 are now expected to pay. Bills are expected by mid-November, and the surcharge appears on the property tax bill due January 1, 2027.
Our take: Brooklyn is where the surcharge reaches beyond true pieds-à-terre. Its $5M+ market is still growing, with Q3 closings up 29% to 58 in our ACRIS deed study, but rising city valuations are pulling family-owned townhouses over the $5M line. One Park Slope owner, a lifelong resident who held the house through an LLC with his brother, received a $47,504 bill; on his block, 14 of 22 homes now carry a city value above $5M, up from two a year ago. With a ruling due from the appeals court and Albany's tax debate set to resume after the November 3 election, owners should review how title is held and check their city market value before the January bill. Full study: howardhannanyc.com/blog/nyc-pied-a-terre-tax-q3-2026-manhattan-luxury-sales
For Owners: If your exemption was denied or you dispute the city's value, the next step is the NYC Tax Commission. Do not assume the court case will cancel the bill.
For Buyers and Investors: Underwrite the surcharge on any non-primary condo or co-op the city values at $1 million or more. A unit with a full-time tenant is exempt; an empty pied-à-terre is not.
This is market information, not tax or legal advice. Howard Hanna NYC can tell you what your apartment would rent for and sell for today; your advisors should drive the exemption decision.
The Brooklyn PPSF Story
Brooklyn's median PPSF has climbed for a decade to a sustained range above $1,000. October's $1,021 keeps it there.
References
- Sales and pricing data (supply, demand, PPSF, listing discount, median sale price, days on market, price cuts, pending sales, Market Pulse) and Leverage Index inputs: UrbanDigs, October 2026 actuals.
- Bedroom-level median sale price: UrbanDigs Charts Room, 5-year monthly series, by closed date, October 2026.
- Rental data (asking rent, inventory, discount share, neighborhood table) and gross rental yield inputs: StreetEasy Market Data, September 2026 release.
- Sales by neighborhood: StreetEasy Market Data, September 2026 release (median closed sale price, recorded sales volume); StreetEasy September 2026 NYC Market Report, October 15, 2026.
- Closed-lease rental data: The Real Deal Rental Report by Jonathan Miller, September 2026. Rent-stabilized renewals: NYC Rent Guidelines Board Order #58.
- Mortgage rates: Howard Hanna NYC jumbo APR tracker (Bank of America, Chase, Wells Fargo), November 1, 2026; Freddie Mac Primary Mortgage Market Survey, October 29, 2026; Optimal Blue 30-Year Fixed Rate Jumbo Mortgage Index via FRED (OBMMIJUMBO30YF).
- Federal Reserve policy: FOMC statement, October 28, 2026. https://www.federalreserve.gov/newsevents/pressreleases/monetary20261028a.htm
- Treasury yields: U.S. Department of the Treasury, Daily Treasury Par Yield Curve Rates, through October 30, 2026.
- Gross rental yield: annualized StreetEasy median asking rent ÷ median asking price, by neighborhood, September 2026 release. Screening measure; thin submarkets excluded.
- Leverage Index: Howard Hanna NYC Leverage Index 2026; inputs courtesy of UrbanDigs. Demand, discount and PPSF charts: HHNYC Graphs workbook.
- Consumer sentiment: University of Michigan Surveys of Consumers, October 2026 final (released October 23); history via FRED (UMCSENT).
- Pied-à-terre surcharge: NYC Department of Finance, Non-primary residence surcharge, https://www.nyc.gov/site/finance/property/non-primary-residence-surcharge.page; The Real Deal, October 28 and October 29, 2026; New York Daily News, October 14, 2026; New York Post, October 28, 2026; New York State Supreme Court, Richmond County, decision of September 29, 2026; Howard Hanna NYC, The First Full Quarter Under NYC's Pied-à-Terre Tax (ACRIS deed analysis), October 28, 2026, https://howardhannanyc.com/blog/nyc-pied-a-terre-tax-q3-2026-manhattan-luxury-sales. Not tax or legal advice.
Questions About This Month’s Market?
If you’d like to discuss what this month’s data means for a specific property, portfolio, or search, feel free to reach out to the Howard Hanna NYC team.
Howard Hanna NYC brings the nation’s largest independent and family-owned brokerage to New York City, uniting the strength of a national network with the insight and sophistication of a local firm. Formed through joining forces with Elegran Real Estate, Howard Hanna NYC delivers a seamless, full-service experience backed by more than 15,000 agents across 500 offices in 14 states.
