Demand Surges as Confidence Strengthens

As we move into May 2026, NYC’s residential market is accelerating into peak spring conditions, with pending sales rising across both Manhattan and Brooklyn, signaling a strengthening forward transaction pipeline.

The Howard Hanna NYC Consumer Sentiment Index increased from +36% to +56%, marking a sharp rebound in buyer confidence and one of the strongest readings in recent months.

Supply conditions remain mixed. Manhattan inventory continues to track below last year’s levels, while Brooklyn is seeing moderate expansion, creating a divergence across boroughs. At the same time, contract activity has rebounded, particularly in Brooklyn, indicating buyers are re-engaging as conditions stabilize.

Overall, the market is shifting into a demand-driven phase, where stronger buyer activity is beginning to absorb available inventory. With sentiment improving and transaction velocity increasing, competitive conditions are re-emerging for well-priced assets, while mispriced inventory is likely to face longer market times.

Manhattan Supply: Inventory Remains Below Last Year

Manhattan active inventory increased to 6,642 homes (+1.3% WoW | –7.4% YoY), remaining below last year’s levels despite modest weekly growth. New listings totaled 433 units (-8% WoW | –13% YoY), indicating lower seller activity both week-over-week and year-over-year.

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

Brooklyn Supply: Inventory Expands Moderately

Brooklyn inventory increased to 3,586 homes (+1.99% WoW | +4.4% YoY), reflecting steady supply growth compared to last year.

New listings totaled 251 units (-11.3% WoW | –10% YoY), indicating a slight pullback in weekly seller activity.

While inventory has expanded, the combination of strong demand and lower new listing flow suggests continued absorption of available supply.

Manhattan Pending Sales: Increased +3.2% WoW to 3,196 units, signaling continued strength in the forward transaction pipeline.

Brooklyn Pending Sales: Increased +4.5% WoW to 1,767 units, indicating robust deal flow as buyers actively move toward contract.

Photo by Rihards Gederts | Howard Hanna NYC

Manhattan Consumer Sentiment: Momentum Rebuilds

Manhattan recorded 263 signed contracts (+8% WoW | +3% YoY), reflecting steady improvement in both weekly and annual activity.

The Howard Hanna NYC Manhattan Consumer Sentiment Index increased from 0% to +9%, returning to positive territory.

This suggests renewed buyer engagement, particularly as demand strengthens across key segments.

Brooklyn Consumer Sentiment: Strong Demand Surge

Brooklyn recorded 178 signed contracts (+33% WoW | +14% YoY), marking a significant increase in activity.

The Howard Hanna NYC Brooklyn Consumer Sentiment Index increased from +62% to +119%, representing one of the strongest sentiment readings this year.

This sharp increase highlights accelerating buyer demand, particularly as market confidence improves.

New Development Insights: Activity Expands Across Core Assets

According to Marketproof data, new development activity recorded 38 signed contracts across 28 buildings during the week of April 27, 2026.

Top-performing developments included

• 110 Boerum Place (Cobble Hill) with five contracts 

• The Strathmore (Yorkville) with two contracts.

Activity remains concentrated in well-located, competitively priced developments, reinforcing a market where buyers 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.

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.