MANHATTAN

In Manhattan, 141 new listings entered the market last week, up 12.8% from the previous week and down 72.5% from the same week last year.

140 Manhattan contracts were signed last week, down 6.7% from the previous week and down 5.4% from the same week last year.

14 Manhattan contracts were signed at $4M and above last week. Condos outsold co-ops 8-5, with 1 townhouse in the mix.

Noteworthy new contracts last week were:

1. 61 NORTH MOORE STREET, 3W asking $6,500,000.

2. 126 EAST 57TH STREET, 2703 asking $6,280,000.

3. 181 EAST 65TH STREET, 18B asking $6,200,000.
   

The headline number this week is inventory, not contracts. Active supply fell to 4,341 listings, down 26.5% year-over-year and the steepest annual decline of 2026. Just 13% of that supply is fresh (under 30 days), while 61% has sat on the market 90 days or longer. New listings ticked up 12.8% week-over-week to 141 ahead of the long weekend, but that’s still 72.5% below this week last year, when a very different rate environment pulled far more sellers off the sidelines. Contract signings eased 6.7% to 140, roughly in line with typical pre-Labor Day softening.

The luxury tier tells its own story: $4M+ pending contracts carry a 123-day median days-on-market, by far the longest of any price band, meaning buyers at the top still hold negotiating leverage even as overall inventory tightens. Bidding wars remain concentrated and uneven — Greenwich Village (34%) and Carnegie Hill (29%) are seeing real competition on fresh listings, while Flatiron, Midtown Center, and East Village are seeing none.

The macro backdrop shifted this week. Conforming rates rose 7 bps to 6.74% and jumbo jumped 20 bps to 6.81%, reversing last week’s brief inversion and pushing the jumbo-conforming spread back to a more typical +7 bps. Both remain below year-ago levels, but the trajectory matters heading into fall: buyers who moved quickly on jumbo financing last week locked in before the increase.

BROOKLYN

In Brooklyn, 139 new listings entered the market last week, up 33.7% from the previous week and down 41.6% from the same week last year.

88 Brooklyn listings entered contract last week, up 7.3% from the previous week and down 8.3% from the same week last year.

Noteworthy new contracts in Brooklyn were:

1. The townhouse at 8 POLHEMUS PLACE in Park Slope, asking $6,000,000.

2. 127 KENT AVENUE, PH1A in Williamsburg, asking $5,995,000.

3. The townhouse at 132 6TH AVENUE #1 in Park Slope, asking $2,250,000.
   

Brooklyn’s new listing count surged 33.7% week-over-week heading into the holiday, but that jump is more like a rebound off a light prior week than a genuine supply wave — the total is still down 41.6% from this week a year ago.

Active supply held essentially flat at 3,182, just 1% below last year, meaning Brooklyn’s inventory story has stabilized while Manhattan’s keeps tightening. Fifty-two percent of Brooklyn’s listings have now sat 90+ days, giving buyers real room to negotiate across most of the market, though the $1M-$2M band remains the fastest-moving tier at a 69-day median DOM.

Contract signings ticked up 7.3% to 88, with under-$1M and $1M-$2M tied at 42% share each. Bidding wars are concentrated almost entirely in a handful of neighborhoods: Park Slope (46%) and Bay Ridge (40%) are seeing real competition on fresh listings, while Bath Beach, Marine Park, and Greenpoint are seeing almost none — a reminder that “Brooklyn” isn’t one market this fall, it’s dozens of very different ones.

_{Data for this report is deemed reliable at the time of collection, but is not guaranteed accurate. Data points were collected from ReSource and Urbandigs. Analysis and conclusions are subject to errors, omissions and revisions.}