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Brooklyn sales declined for a fifth month as inventory contracted.

Listing inventory also fell as price per square foot hit its second-highest in eight years.

Brooklyn’s market faced declining sales for the fifth consecutive month as limited inventory continues to create a challenging environment for buyers. While some submarkets continue to demonstrate strength, the overall market is becoming more constrained and competitive.

• The September 2025 contracts signed figure was down 4% year-over-year, the second-slowest September in at least the last eight years. Co-op sales decreased 14% annually, but condo sales increased 3%.
• The $1.5M to $2M and $2M to $3M segments posted the only annual gains (up more than 80% each because of stronger new development sales in those price categories), while all other price ranges fell. Submarket performance was mixed: Park Slope/Gowanus continued to have the largest annual increase, driven by increased new development activity. Amid tightening supply, apartments sold faster, averaging just 87 days on market, a decrease from last month and last year.

Brooklyn had 1,681 active listings in September — down 6% year-over-year.

• Active listings declined annually for the fifth consecutive month due to seller hesitation, the mortgage rate lock-in effect, and the slowdown in for-sale new development construction, which limits trade-up options.

Average price per square foot jumped 21% year-over-year to $1,256, the second-highest average in at least the last eight years.

• Both condo and co-op pricing were up annually. Condo average price per square foot increased 7%, while co-ops were up 9%.
• In a further sign of tight inventory’s impact on market performance, negotiability landed 1.5% above ask.