Manhattan Contracts Reach Their Highest Since June and Pull Ahead of Last Year
Election week did not slow Manhattan buyers down. The borough signed 245 contracts, up 11% on the week and 16% above last year, the most since mid-June and the first week this fall to run ahead of 2025. At the same time, the shelf is shrinking: Manhattan inventory fell 2.2% to 5,996 homes, dipping back below 6,000, and new listings declined for a seventh straight week. Brooklyn inventory also turned lower, falling 2.1% from last week’s 2026 high, while both boroughs’ pending pipelines moved up.
The Howard Hanna NYC Consumer Sentiment Index decreased from +30% to +29%, essentially unchanged and holding near its strongest level of the fall.
What This Means for the Rest of Fall 2026
For buyers: The market is tightening heading into the holidays. Manhattan inventory has now fallen two weeks in a row, new listings are at their lowest since early September, and contract activity is the strongest since June. Mortgage rates have eased to about 7.3% from their early-October peak, which helps, but the best-priced homes are drawing more competition each week. If you have found the right home, this is the time to act rather than wait for a selection that is unlikely to improve before spring.
For sellers: Momentum is on your side in Manhattan, with demand ahead of last year for the first time this fall and competition thinning. But the window is short: with Thanksgiving three weeks away, any price adjustments should happen now. As UrbanDigs noted this week, homes that sell in their first 30 days trade near asking, while those that linger past 120 days give up roughly 9%.
Overall, Manhattan is closing out the fall with its strongest demand of the season against a shelf that is beginning to thin, a combination that typically supports pricing into year-end. Brooklyn remains the stronger borough on sentiment, though contracts there eased this week. With the election behind us and rates off their highs, the next three weeks will set the tone for how the market enters 2027.
This Past Week: Please see the updated metrics below:
Manhattan Supply: Back Below 6,000 as New Listings Keep Falling
Manhattan active inventory fell to 5,996 homes (−2.2% week-over-week | −8.4% year-over-year), a second consecutive weekly decline, the steepest since early September, and the lowest count since late September. New listings totaled 236 units (−6% week-over-week | +5% year-over-year), a seventh straight weekly decline, though slightly ahead of the same week last year.
With new listings down more than 55% from their mid-September peak and contracts accelerating, Manhattan’s seasonal drawdown is underway. Inventory typically declines through December, so the shelf buyers see today is likely the widest they will find until the spring market.
Data courtesy of UrbanDigs
Brooklyn Supply: Turning Lower From Its 2026 High
Brooklyn inventory fell to 3,730 homes (−2.1% week-over-week | +2.6% year-over-year), the first decline in four weeks and the lowest level since mid-September. New listings totaled 170 units (−1.7% week-over-week | +22% year-over-year), a third straight weekly decline but still well ahead of last year’s early-November pace.
Brooklyn has reached its seasonal turn one week after Manhattan. Inventory remains slightly above last year, so buyers still have more choice than they did a year ago, but the late-fall drawdown has begun.
Data courtesy of UrbanDigs
Pending Sales: Both Pipelines Rebuild
Pending sales rose in both boroughs as the past three weeks of stronger contract activity worked their way into the pipeline. Manhattan posted its largest weekly gain of the fall.
- Manhattan pending sales: up +3.9% week-over-week to 2,969 units, the highest level since mid-September.
- Brooklyn pending sales: up +1.9% week-over-week to 1,849 units, ending a two-week decline.
Manhattan Consumer Sentiment: The Strongest Demand Since June
Manhattan recorded 245 signed contracts (+11% week-over-week | +16% year-over-year), a third consecutive weekly gain, the most since mid-June, and the first week this fall ahead of last year’s pace.
The Howard Hanna NYC Manhattan Consumer Sentiment Index increased from +13% to +25%, its strongest reading of the fall. Rising contracts against falling inventory is the most supportive combination for this gauge, and Manhattan delivered both this week.
Brooklyn Consumer Sentiment: A Modest Pullback From a High Level
Brooklyn recorded 122 signed contracts (−5% week-over-week | −12% year-over-year), easing from last week’s three-month high and measured against a strong early November last year.
The Howard Hanna NYC Brooklyn Consumer Sentiment Index decreased from +66% to +58%, a modest pullback that keeps the borough well above its pre-pandemic average and still ahead of Manhattan by a wide margin.
Photo by Rihards Gederts | Howard Hanna NYC
New Development Insights: The Rowan II Leads the Busiest Week Since Mid-September
According to Marketproof data, new development activity recorded 29 signed contracts across 21 buildings during the week of November 2, 2026, up from 19 the prior week and the busiest week since mid-September. Top-performing developments included:
- The Rowan II (Astoria-Ditmars) with six signed contracts
- 720 West End Avenue (Upper West Side) with two signed contracts
Six contracts at a single building is the strongest showing since the Emmet Building’s six in late September, and it puts a Queens project at the top of the board. Together with the rebound in the overall count, it suggests sponsor demand is picking up alongside the resale market heading into year-end.
Note: weekly new development tallies are reported with a lag, so figures may be revised as late-reported contracts post after the week closes.
Click HERE to review this week’s activity on Marketproof.
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