For the third month this year, contract activity improved.

Inventory also reached its highest point in nearly a year.

Sales in Brooklyn grew by 6% compared to last year’s four-year April low. However, overall contract activity was bolstered by the co-op market, as condo sales declined for the second consecutive month.

• Value-driven buyers boosted sales activity under $2M by 7% annually, while activity over $2M fell slightly by 2% year-over-year.
• Notably, contracts signed in Park Slope/Gowanus reached a near two-year high, thanks to new developments.
• Days on market decreased by 12% year-over-year, as the trend of increased inventory energized buyers to transact.

Active listings increased by 17% year-over-year to 1,899 units, marking the highest April inventory level since 2021 and the 12th consecutive month without a decline in supply.

• Although both condo and co-op average price per square foot figures rose year-over-year, the overall average price per square foot decreased by 1% because a greater share was co-op sales and there was a slight shift towards lower price points.
• Several transactions occurred at more than 10% above the last asking price, pushing overall average negotiability above ask. This trend has continued for the fourth consecutive month, while co-op’s above ask figure marked the 10th occurrence in the past 12 months.