Supply Expands as Demand Stabilizes

Market activity this week reflects a transition into a more balanced spring environment, with supply expanding and demand stabilizing across both boroughs.

The Howard Hanna NYC Consumer Sentiment Index declined from +32% to +24%, but remains in positive territory, indicating buyers continue to engage despite interest-rate uncertainty and broader economic headwinds.

At the same time, pending sales increased in both Manhattan and Brooklyn, signaling a strengthening forward pipeline of transactions as the spring market gains traction.

A key shift this week is inventory expansion year-over-year in both markets, marking early signs of supply normalization after a prolonged period of constraint.

Overall, the market remains value-driven and selective, with buyers actively transacting when pricing aligns with current financing conditions.

Manhattan Supply: Inventory Expands Above Last Year

Manhattan active inventory increased to 5,797 homes (+3.5% WoW | +17.6% YoY), marking a notable shift as supply now exceeds last year’s levels.

New listings rose slightly to 434 units (+0.5% WoW | –17% YoY). While weekly activity reflects typical seasonal patterns, the continued year-over-year decline suggests that many sellers remain cautious.

The increase in total inventory signals a gradual normalization of supply, though well-priced properties continue to attract strong buyer interest.

Brooklyn Supply: Inventory Growth Signals Early Spring Activity

Brooklyn inventory increased to 3,115 homes (+3.1% WoW | +0.7% YoY), indicating steady supply growth compared to last year.

New listings rose to 245 units (+18.9% WoW | +4% YoY), reflecting stronger seller participation as the spring market gains traction.

This increase in both inventory and listings suggests a more active and balanced market, with buyers benefiting from greater selection while demand remains steady.

Manhattan Pending Sales: Increased +1.25% WoW to 2,907 units, signaling continued expansion in the forward transaction pipeline.

Brooklyn Pending Sales: Increased +1.4% WoW to 1,692 units, indicating steady deal flow as buyers move from search to contract.

Photo by Rihards Gederts | Howard Hanna NYC

Manhattan Consumer Sentiment: Demand Softens but Remains Positive

Manhattan recorded 216 signed contracts (-6% WoW | –24% YoY), reflecting both a weekly slowdown and a more pronounced year-over-year decline.

The Howard Hanna NYC Manhattan Consumer Sentiment Index declined from +13% to +7%, but remains in positive territory. This suggests that while buyer activity has moderated, underlying demand remains present, particularly for properties that are well-priced relative to current market conditions.

Brooklyn Consumer Sentiment:  Buyer Engagement Remains Strong

Brooklyn recorded 129 signed contracts (+4% WoW | –12% YoY), indicating a modest weekly increase despite softer year-over-year performance.

The Howard Hanna NYC Brooklyn Consumer Sentiment Index increased from +68% to +74%, highlighting continued strength in buyer engagement across the borough.

While overall volume remains below last year, the upward trend in sentiment suggests buyers are actively returning to the market as pricing stabilizes.

New Development Insights: Activity Moderates but Remains Targeted

According to Marketproof data, new development activity accelerated meaningfully this week, recording 33 signed contracts across 25 buildings during the week of March 16, 2026.

Top-performing developments included:

• 67 Irving Pl (Gramercy Park) – 3 contracts

• The Solaire (Battery Park City) – 2 contracts

While overall volume moderated from the prior week, demand continues to concentrate in well-located, high-quality assets with competitive pricing, reinforcing that buyers remain active but highly selective in the new development segment.

If you would like to chat about the most recent market activity,

feel free to contact us at [email protected] or 

connect with one of our Advisors.

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. The firm’s forward-thinking, agent-first culture continues to shape the future of real estate across Manhattan and the Tri-State area.Learn more at www.howardhannanyc.com.