Brooklyn Condo & Co-Op Sales: May 2026
High-end demand lifts overall market activity.
Inventory builds across Brooklyn as price gains persist.
Signed contracts rose 2% year-over-year, reaching the highest number of any month in the past two years and marking a reversal after four consecutive months with a decline.
- The rebound was driven by the condo market, where contracts climbed 8%.
- Meanwhile, co-op activity weakened, with contracts falling 6% year-over-year, which was the fifth consecutive decline and the tenth decrease over the past twelve months.
Demand was strongest at the top of the market: sales in the over $3M segment more than doubled versus last year and $2M to $3M increased 56%.
- Both price categories reached their highest May number in at least eight years.
- Average days on market increased 6% compared to a year ago, when marketing time had reached its shortest average timeframe since 2022.
- Despite the annual increase, marketing time fell to its lowest level in the past year, as is typical of market seasonality, with properties averaging 74 days on the market.
Brooklyn inventory rose 8% year-over-year to 2,015 listings, marking the eighth consecutive month of supply growth and the highest inventory figure of any month since June 2022.
- Condo listings were up 3% annually, while co-op inventory continued to build for the ninth straight month, increasing 16% year-over-year.
Nevertheless, pricing momentum continued, with average price per square foot up 15% annually, its sixteenth increase in the past twenty months.
- Co-op price per square foot jumped 14%, driven by strong high-end activity in Brooklyn Heights and Park Slope.
- Condo pricing also gained momentum, rising 11% year-over-year, supported by new development sales exceeding $2,000 per square foot.
- Market competitiveness also strengthened: condo negotiability rose slightly to 0.3% below asking price.
- Meanwhile, co-op negotiability landed 3.9% above the asking price on average because of several bidding wars that resulted in sales 10% or more above ask.
