Inhabit by Corcoran

Sales activity improved and marketing times shortened.

Pricing leveled off while inventory continued to rise.

Signed contracts climbed 11% year-over-year to 347, though this was compared to the lowest June figure since 2020.

• June 2026 signed contracts were 5% below the five-year June average of 363.
• Although both product types increased annually, the overall growth was driven largely by a 15% increase in condo contracts, while co-ops increased 4%. This marked a reversal after five consecutive months of year-over-year declines in co-op activity.

Every price segment had an annual increase in signed contracts except for the $1M to $1.5M range.

• In particular, the over $3M segment grew to more than double last year’s level due in part to stronger sales in Williamsburg.
• Average days on market dropped 8% compared to a year ago to the second-shortest timeframe in the last 13 months.

Brooklyn inventory rose 8% year-over-year to 2,003 listings, its ninth consecutive month of supply growth and the second-highest inventory figure since June 2022.

• The steady rise in supply has facilitated stronger sales activity. Condo listings were up 2% annually, while co-op inventory continued to build for the 10^th straight month, increasing 17% year-over-year.

Pricing overall rose, with average price per square foot up 2% annually, its 17th increase in the past 21 months.

• However, a greater share of sales were condos, causing the overall rise despite the flat condo average and decline in average co-op price per square foot.
• Negotiability tightened with condos averaging only 0.1% below asking price, while co-op negotiability was 4.5% above the asking price on average because of several bidding wars that landed 10% or more above ask.