Brooklyn Real Estate Market Report: 2Q 2026
“Brooklyn’s market is showing real signs of momentum. Signed contracts rose 15% year over year — the strongest annual gain in more than four years — signaling that buyer demand is strengthening.
Days on market also fell to 72 days, the fastest second-quarter pace in a decade, showing that well-priced listings are still moving quickly. Meanwhile, resale inventory continued to open up, and median and average prices climbed 11% year over year to new all-time highs — a sign that Brooklyn remains on solid footing even as the market evolves.”
– Michael Sorrentino, SVP, General Sales Manager, NY
Closings slowed, but contracts point to a turn.
- Closings fell 11% YOY, the second-lowest second-quarter total in thirteen years, behind only 2020. Strip out co-ops, and sales were down just 2%, as softness is concentrated at the entry-level while the $1M+ segment stays tightly contested.
- Signed contracts told a different story, jumping 15% YOY, the strongest annual gain in more than four years.
- Days on market fell 15% to 72 days, the fastest second-quarter pace in a decade, as buyers moved quickly when homes were priced right.
Inventory is rebuilding, led by resale.
- Active listings rose 8% YOY to 2,003 units, the highest second-quarter total since early 2022, led by resale co-ops (+17%) and condos (+15%).
- Inventory in the over $2M segment fell 17%, largely due to a drop in new development listings, while all other price segments exhibited annual growth.
- Inventory over $1M declined 5% even as overall supply grew — a real constraint in a segment that drives more than 40% of sales.
Pricing continued to set records.
- Median and average price both rose 11% YOY, reaching new all-time highs.
- Average price per square foot climbed 8% to a record $1,185, driven by more sales above $2,000/sqft.
- Resale condo median price rose 15% to $1.15M, and price per square foot increased 5% to $1,217, both setting new records.
- New development pricing rose across the board, powered by $2M+ sales in Williamsburg, Downtown Brooklyn, and DUMBO.
