Brooklyn Condo & Co-Op Sales: August 2025
Contract activity drops while days on market tighten.
Declining inventory continues to impact market activity.
Brooklyn’s market faced declining sales for the fourth consecutive month as limited inventory continues to create a challenging environment for buyers.
- While select submarkets show resilience, the overall trend reflects a tight and increasingly competitive landscape.
- The August 2025 contracts signed figure was down 12% year-over-year, the second slowest August in at least the last eight years. Both condo and co-op sales were lower, though co-op sales were down only 1%.
- The $1M to $1.5M segment posted the only annual gain (up by two contracts), while all other price ranges fell.
- Submarket performance was mixed: Park Slope/Gowanus posted the largest annual increase, driven by increased new development activity. As a response to scarcity, average days on market fell to 90 days, down from both last month and last year.
Brooklyn had just over 1,470 active listings in August — down 11% year-over-year.
- Active listings declined annually for the fourth consecutive month due to seller hesitation, the mortgage rate lock-in effect, and the slowdown in for-sale development construction, which limits trade-up options.
- Average price per square foot declined 3% year-over-year to $1,110, only the second time in the last 11 months that overall pricing has posted an annual decrease. The overall drop was due to a slight dip in condo prices compounded by the more significant drop in condo sales relative to co-ops.
- Co-op pricing per square foot actually increased a modest 1% and has risen annually for seven consecutive months.
- In a further sign of tight inventory’s impact on market performance, negotiability remained limited at less than 1% off the asking price.
