Demand Momentum Reaccelerates

NYC’s residential market regained momentum this week, with pending sales and signed contracts rising materially across both Manhattan and Brooklyn as the spring market enters its final high-activity stretch.

The Howard Hanna NYC Consumer Sentiment Index surged from +43% to +79%, reflecting a meaningful rebound in buyer engagement and stronger transaction velocity across both boroughs.

Demand strengthened notably in Brooklyn, where signed contract activity posted one of the strongest weekly gains of the year, while Manhattan also recorded solid improvements in both contracts signed and pending sales.

Supply conditions, however, remain uneven. Manhattan inventory continues to sit significantly above last year’s levels, although listing growth is beginning to stabilize as stronger demand absorbs available product more efficiently. Brooklyn inventory growth remains comparatively moderate as new listing activity slows.

Overall, the market continues to favor well-positioned and correctly priced properties, with buyers remaining active but disciplined on pricing as transaction activity accelerates heading into early summer.

Manhattan Supply: Inventory Remains Elevated

Manhattan active inventory increased slightly to 6,671 homes (+1.3% WoW | +36% YoY), remaining substantially above last year’s levels.

New listings totaled 324 units (-25% WoW | –3% YoY), reflecting weaker seller activity both week-over-week and slightly year-over-year.

This slowdown in new listing flow may begin to support inventory stabilization heading into early summer.

Brooklyn Supply: Supply Growth Moderates

Brooklyn inventory increased to 3,736 homes (+2.5% WoW | +2.5% YoY), reflecting moderate supply growth compared to last year.

New listings declined to 195 units (-7.9% WoW | +6% YoY), indicating softer weekly seller participation despite modest annual growth.

This suggests Brooklyn inventory expansion may begin to moderate if demand momentum continues accelerating.

Manhattan Pending Sales: Increased +3.9% WoW to 3,618 units, signaling continued strength in the forward transaction pipeline.

Brooklyn Pending Sales: Increased +7.7% WoW to 1,996 units, indicating exceptionally strong deal flow as buyers actively move toward contract.

Photo by Rihards Gederts | Howard Hanna NYC

Manhattan Consumer Sentiment: Demand Rebounds Strongly

Manhattan recorded 302 signed contracts (+19% WoW | +30% YoY), reflecting strong improvement both week-over-week and year-over-year.

The Howard Hanna NYC Manhattan Consumer Sentiment Index increased from +5% to +28%, marking one of the strongest weekly improvements this spring.

This sharp increase suggests buyers remain highly engaged despite elevated inventory levels.

Brooklyn Consumer Sentiment: Momentum Accelerates Sharply

Brooklyn recorded 209 signed contracts (+49% WoW | +38% YoY), representing one of the strongest weekly performances this year.

The Howard Hanna NYC Brooklyn Consumer Sentiment Index surged from +69% to +159%, reflecting a substantial acceleration in buyer momentum heading into the summer market.

This sharp rebound reinforces that underlying demand remains exceptionally strong across Brooklyn submarkets.

New Development Insights: Demand Concentrates in Lifestyle-Driven Projects

According to Marketproof data, new development activity recorded 31 signed contracts across 26 buildings during the week of May 18, 2026.

Top-performing developments included:

• One Domino Square (Williamsburg) with five contracts

• 720 West End Avenue (Upper West Side) with two contracts.

Demand continues to concentrate in well-located, lifestyle-oriented developments with strong pricing alignment, reinforcing buyer preference for turnkey product in prime neighborhoods.

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.