Brooklyn Condo & Co-Op Sales: July 2025
Contract activity dropped sharply, yet days on market continued to tighten.
Rising average price per square foot persisted amid shrinking supply.
In July 2025, Brooklyn saw 283 signed contracts — an 18% decline year-over-year.
- Excluding 2020, this was the lowest number of signed contracts for any July in at least nine years and marked the third consecutive month with a double-digit decline in annual sales.
- Compared to July 2024, condo contracts fell 17% and co-op sales dropped 20%.
- The $1.5M to $2M segment posted the only annual gain (up three contracts), while all other price ranges fell.
- The under $1M segment saw the largest nominal drop, down 45 contracts, partly due to fewer sales in South Brooklyn.
- Submarket performance was mixed: Williamsburg and Greenpoint posted the largest annual increase, driven by new development activity along the Williamsburg waterfront. In contrast, Carroll Gardens, Boerum Hill, and Red Hook experienced the steepest annual percentage decline, largely due to limited inventory.
- Overall, average days on market fell 19% year-over-year to 94 days, primarily due to urgency driven by rising prices and constrained inventory conditions.
Brooklyn had just over 1,650 active listings in July — down 6% year-over-year.
- Active listings declined annually for the third consecutive month with both product types displaying year-over-year drops.
- Average price per square foot rose 1% year-over-year to $1,154, driven mostly by a 13% increase in average co-op price per square foot. This marked the ninth time in the past 12 months that overall price per square foot rose annually.
- Condo pricing per square foot increased a modest 1% but has risen every month since April 2024.
- Negotiability tightened compared to last year: about 60% of condos and co-ops sold at or above their last asking price, up from roughly 50% a year ago. As a result, the average sale price was above ask for the seventh consecutive month.
