Demand Rebounds as Supply Remains Constrained

Market activity this week reflects renewed demand momentum, particularly in Manhattan, while overall supply conditions remain mixed across boroughs.

The Howard Hanna NYC Consumer Sentiment Index increased from +25% to +39%, remaining firmly in positive territory and signaling sustained buyer engagement despite macro uncertainty.

Pending sales increased across both Manhattan and Brooklyn, reinforcing that the forward pipeline of transactions continues to strengthen.

NYC’s residential market is building spring momentum, with contract activity rebounding in Manhattan while Brooklyn saw a modest pullback in signed deals, though engagement remains strong.

Inventory trends continue to diverge, with Manhattan supply below last year’s levels while Brooklyn expands, creating a more balanced citywide dynamic.

Overall, the market remains resilient, active, and disciplined, with buyers responding quickly to well-priced opportunities.

Manhattan Supply: Inventory Remains Constrained

Manhattan active inventory increased to 5,952 homes (+2.7% WoW | –8.8% YoY), remaining below last year’s levels and reinforcing ongoing supply constraints.

New listings declined slightly to 420 units (-3% WoW | –4% YoY), suggesting that seller participation remains somewhat limited despite the spring season.

This continued supply constraint supports competitive conditions for well-priced properties, particularly in prime and move-in-ready segments.

Brooklyn Supply: Inventory Expansion Continues

Brooklyn inventory increased to 3,215 homes (+3.2% WoW | +1.4% YoY), indicating continued supply growth compared to last year.

New listings rose to 248 units (+1.2% WoW | +9% YoY), reflecting stronger seller participation as the spring market progresses.

This ongoing expansion suggests a more balanced market environment, with increased choice for buyers while demand remains steady.

Manhattan Pending Sales: Increased +2.3% WoW to 2,974 units, signaling continued expansion in the forward transaction pipeline.

Brooklyn Pending Sales: Increased +0.1% WoW to 1,694 units, indicating stable deal flow as buyers continue to move toward contract.

Photo by Rihards Gederts | Howard Hanna NYC

Manhattan Consumer Sentiment: Strong Rebound in Demand

Manhattan recorded 264 signed contracts (+22% WoW | 0% YoY), marking a strong weekly rebound and stable year-over-year performance.

The Howard Hanna NYC Manhattan Consumer Sentiment Index increased from +7% to +30%, remaining in positive territory for the fifth consecutive week.

This sharp increase signals renewed buyer confidence, particularly as spring demand begins to accelerate.

Brooklyn Consumer Sentiment: Moderation After Strong Prior Weeks

Brooklyn recorded 120 signed contracts (-7% WoW | –6% YoY), reflecting a modest pullback following several weeks of elevated activity.

The Howard Hanna NYC Brooklyn Consumer Sentiment Index declined from +74% to +62%, though it remains at a high level, indicating sustained buyer engagement.

While activity moderated slightly, the broader trend suggests continued underlying demand as the market stabilizes.

New Development Insights: Activity Moderates but Remains Targeted

According to Marketproof data, new development activity recorded 42 signed contracts across 31 buildings during the week of March 23, 2026.

Top-performing developments included:

• The Strathmore in Yorkville with three contracts
• Eastlight in Kips Bay with two contracts.

While overall volume increased 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.