Demand Moderates as Inventory Gradually Expands

Market activity this week reflects a moderation in short-term buyer momentum alongside gradually improving supply conditions.

The Howard Hanna NYC Consumer Sentiment Index decreased from +59% to +44%, indicating a cooling from elevated prior readings while still remaining solidly positive.

At the same time, pending sales continued to rise across both Manhattan and Brooklyn, confirming that the forward transaction pipeline remains healthy despite softer weekly contract activity.

A key trend this week is the continued divergence in supply conditions between boroughs, with Manhattan inventory remaining constrained while Brooklyn supply continues to expand more steadily.

Overall, the market is transitioning toward a more balanced late-spring environment, where buyers remain active but increasingly price-sensitive, making strategic pricing and positioning critical for sellers. 

Manhattan Supply: Inventory Holds Steady Below Last Year

Manhattan active inventory remained relatively unchanged at 6,645 homes (+0% WoW | –8.4% YoY), continuing to track below last year’s levels.

New listings totaled 410 units (-5.3% WoW | +9% YoY), reflecting slightly weaker weekly seller activity but improved year-over-year listing flow.

This continued inventory constraint supports competitive conditions for well-positioned and accurately priced properties.

Brooklyn Supply: Inventory Expansion Continues

Brooklyn inventory increased to 3,613 homes (+0.7% WoW | +3.3% YoY), reflecting ongoing supply growth compared to last year.

New listings totaled 278 units (+10.7% WoW | +10% YoY), signaling increased seller participation both week-over-week and year-over-year.

This gradual supply expansion is providing buyers with greater selection across Brooklyn submarkets, particularly outside core luxury segments.

Manhattan Pending Sales: Increased +2.5% WoW to 3,278 units, signaling continued strength in the forward transaction pipeline.

Brooklyn Pending Sales: Increased +1.64%% WoW to 1,796 units, indicating robust deal flow as buyers actively move toward contract.

Photo by Rihards Gederts | Howard Hanna NYC

Manhattan Consumer Sentiment: Activity Softens but Remains Positive

Manhattan recorded 246 signed contracts (-6% WoW | –9% YoY), reflecting softer activity both week-over-week and year-over-year.

The Howard Hanna NYC Manhattan Consumer Sentiment Index decreased from +9% to +1%, though it remains marginally in positive territory.

This suggests buyers remain engaged, but are becoming increasingly selective as supply conditions gradually improve.

Brooklyn Consumer Sentiment:  Momentum Cools After Strong Surge

Brooklyn recorded 152 signed contracts (-15% WoW | +3% YoY), reflecting a weekly slowdown following several weeks of elevated activity.

The Howard Hanna NYC Brooklyn Consumer Sentiment Index decreased from +119% to +85%, representing a moderation from exceptionally strong prior readings while still indicating elevated buyer engagement.

Despite the weekly slowdown, year-over-year contract activity remains positive, suggesting underlying demand remains healthy.

New Development Insights: Activity Expands Across Core Assets

According to Marketproof data, new development activity recorded 47 signed contracts across 32 buildings during the week of May 5, 2026.

Top-performing developments included

• 110 Boerum Place (Cobble Hill) with six contracts 

• The Florian (Gramercy Park) with four contracts.

Activity remains concentrated in well-located, competitively priced developments, reinforcing a market where buyers continue to prioritize quality, value, and long-term positioning.

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.

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