Inhabit by Corcoran

Brooklyn reports one of its slowest Octobers in decades.

Slower sales drive inventory to a five-year high.

Brooklyn contract activity fell 12% year-over-year to 291 sales, the second-slowest October in ten years and the third straight annual decline. 

• Condos were responsible for the decline, falling by almost a third year-over-year to 142 contracts.
• Losses were concentrated below $3M; by submarket, Williamsburg & Greenpoint (-40%) and Bed-Stuy & Crown Heights (-48%) saw the steepest declines.
• On the other hand, co-op activity climbed 17% to 149 deals, as an increase in listings gave buyers more options in a more affordable segment of the market.

Marketing times increased only 2% annually to an average of 84 days.

• Among condos, days on market fell 5%, while the co-op market offset this decline by rising 10% year-over-year.

Inventory increased to 2,068 active listings in October 2026, a 15% jump year-over-year and a 2% increase compared to last month.

• This is the highest monthly total since October 2021 and the 13th straight month of annual gains.
• Both condos and co-ops contributed to the increase, growing by 11% and 23%, respectively.

Average price per square foot was $1,154, 3% below last year.

• This change can be attributed to the increased share of co-op sales, which typically trade at a lower price per square foot.
• However, the average condo price per square foot increased because the product type had a greater share of sales in luxury waterfront buildings.
• Overall negotiability rebounded to 1.2% above ask after September’s below-ask reading.
• Condos averaged 0.4% above ask, while co-ops reached 3.5%, lifted by two contracts that signed more than 30% over ask.