How Soon is Spring?
The first month of our 2026 was turbulent in many ways and on many levels – globally, nationally, locally. From the political landscape to the economy, to impeding weather conditions that swept the country. January came at us strong.
Looking back on our Q4 2025 real estate market in New York City, we entered the new year on the heels of a strong quarter. The Manhattan market closed out the fourth quarter with 2,611 sales, nearly a 9% year-over-year increase, outperforming the same for 2024 and 2023. Brooklyn also saw a significant increase in Q4 sales, leaving 2025 with 2,443 transactions in the fourth quarter, more than a 10% year-over-year increase.
As we flipped the calendar into 2026, the number of properties in contract in Manhattan saw a moderate increase from the year prior, though Brooklyn saw nearly an 11% decrease in the number of properties in contract year-over-year, with the trend continuing into February with a 3% decrease from last month; Manhattan remained relatively flat, all pointing to lower sales in the quarter ahead.
Low property inventory remains the persistent issue that we have faced for several years. Inventory decreased significantly across Manhattan and Brooklyn as we entered the new year, though historically we expected this coming out of the holiday season; and we only saw a moderate increase as we enter February.
Buyers and sellers normally tap the breaks during the holiday season, and this season was no different. Yet this past month we saw a strong start with buyer activity, with an increase in showing requests and offers, even on properties that had been lingering. Last week’s weather seemed to dampen activity as the city hunkered in with snow and cold, but we remain optimistic for February given the sentiment we saw in the first half of last month.
Buyers are out shopping, even if tire-kicking, sometimes skittish and often emboldened to think there are great discount deals to be made. Though a little experience is making them wiser that pricing remains fair, while mortgage interest rates seem to be more of an issue for the media than actual shoppers. With rates recently at a three-year low, and projections for decreases into the mid-to-high 5% through this upcoming year, the forecast remains positive, and so too we hope sentiment.
That said, for all those owners planning to sell or considering, now is the time to explore options with your real estate advisor. Prep-time for the spring market is here. Despite the increase in inventory that we will very likely see over the next few months, it will not be a tidal wave. So, it could be your right season to take advantage.
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The Numbers
Manhattan Market Activity
Highlighting our market's past 30 days.
Brooklyn Market Activity
Highlighting our market's past 30 days.
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The Properties
Our month's featured listings on the market.
Prospect Lefferts Gardens / Brooklyn
Condo
2 Beds (Convertible 3) / 2 Baths
$795,000
Chelsea / Manhattan
Condo
2 Beds / 2 Baths
$2,600,000
Upper West Side / Manhattan
Co-op
2 Beds / 2 Baths
$749,000
Fort Green / Brooklyn
Townhouse
6 Beds / 3 Baths
$5,750,000
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The Pick
From the cool and eccentric to reserved and irreverent - Our month’s pick of what's happening in New York City.
Restaurant Week
Dine somewhere new.
The city’s biggest dining event is back. Explore neighborhood favorites and city hotspots with 2-course lunches and 3-course dinners.
Now through February 12th.
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