NYC Real Estate Market Reports
Brooklyn Sales Market Report
Q1 2026
2026 Q1 Report: The Condensed Version
Fewer deals closed in the first quarter of 2026, but the ones that did moved faster and at higher prices than almost any quarter on record. Brooklyn's market was defined by constrained supply, selective buyers, and a clear split between neighborhoods that are moving and ones that are sitting. The borough-level headline looks soft. The neighborhood-level story is more interesting.
Q1 2026 Brooklyn Market Snapshot
Closed sales: 1,061 (down 8% year over year)
Signed contracts: 835 (down 14% year over year)
Sales volume: $1.18 billion (down 3% year over year)
Median price: $828K (up 4% year over year)
Average price: $1.113M (up 6% year over year, second-highest on record)
Average price per sq ft: $1,122 (up 5% year over year, exceeded in only 3 other quarters on record)
Days on market: 87 days (down 11% year over year)
Active listings: 1,766 (up 12% year over year)
What's Behind the Numbers
Transaction volume fell across all product types. New development took the biggest hit, down 22% year over year to its lowest first-quarter level since 2016, reflecting an ongoing shortage of new supply rather than a collapse in demand. Resale co-ops and condos made up 76% of all closings.
Pricing tells a different story. Resale condo median price rose 12% to $1.012 million, its second-highest figure on record. New development median price hit $1.395 million, tied for the highest ever. The driver: a growing share of sales above $2 million, concentrated in DUMBO, Williamsburg, Greenpoint, and Park Slope.
Days on market fell across every price range and every bedroom type. Listings that were priced correctly moved. Listings that weren't, sat.
Sales by Product Type
Resale co-ops: 434 closings, 41% market share, down 1% year over year
Resale condos: 368 closings, 35% market share, down 5% year over year
New development: 259 closings, 24% market share, down 22% year over year
Pricing by Product Type
Resale co-op median price: $453K (up 3% year over year)
Resale condo median price: $1.012M (up 12% year over year)
New development median price: $1.395M (up 8% year over year)
Days on Market by Bedroom
Studios: 113 days (down 17% year over year)
1 bedrooms: 104 days (down 15% year over year)
2 bedrooms: 86 days (down 11% year over year)
3+ bedrooms: 83 days (down 8% year over year)
Neighborhood by Neighborhood
Park Slope and Gowanus
Median price: $1.45M (flat year over year)
Price per sq ft: $1,453 (up 14%, strongest in Brooklyn)
Days on market: 64 days (fastest in Brooklyn)
Active listings: 78 (down 22%, largest inventory decline in the borough)
Closed sales: 86 (down 13% year over year)
With only 78 active listings and a 64-day average marketing time, Park Slope is behaving like a genuinely constrained market. Price per square foot rising 14% while median price holds flat reflects a mix shift toward smaller units, not softening values.
Fort Greene, Clinton Hill and Prospect Heights
Median price: $1.233M (up 29%, strongest appreciation in Brooklyn)
Price per sq ft: $1,289 (up 5%)
Days on market: 48 days (shortest of any Brooklyn submarket)
Closed sales: 117 (essentially flat year over year)
A 29% increase in median price is not a rounding error. Combined with the fastest marketing time in the borough, this submarket is showing sustained, compressed demand against limited supply.
1Carroll Gardens, Boerum Hill and Red Hook
Median price: $1.40M (up 1% year over year)
Price per sq ft: $1,386 (up 7%)
Days on market: 67 days (down 3% year over year)
Closed sales: 76 (up 2% year over year)
Stable across every metric. One of the steadier performers in Brooklyn this quarter.
Kensington, Windsor Terrace, Ditmas Park, Flatbush and Prospect Park South
Median price: $620K (up 7% year over year)
Price per sq ft: $812 (up 10%)
Days on market: 86 days (down 3% year over year)
Closed sales: 58 (down 17% year over year)
Prices moving in the right direction. The sales decline reflects thin inventory more than soft demand.
Bedford-Stuyvesant, Crown Heights, Lefferts Gardens and Bushwick
Median price: $810K (up 1% year over year)
Price per sq ft: $918 (down 3%)
Days on market: 83 days (down 17% year over year)
Closed sales: 74 (down 37% year over year)
The sales decline reflects a significant inventory contraction rather than a market falling apart. Pricing held. Days on market dropped sharply.
Reading the Market
The borough-level numbers make Q1 2026 look soft. The neighborhood-level data tells a more nuanced story. In the areas I work in most closely, supply remains tight and correctly priced properties are still moving quickly. Park Slope at 64 days and Prospect Heights at 48 days are not behaving like a soft market.
What the market has no patience for right now is an incorrect opening price. Overpriced listings are accumulating days on market and ultimately selling for less than they would have at the right price from day one. That's the clearest pattern in the data, and it's consistent across neighborhoods.
If you're thinking about selling this spring and want to understand where your property fits, I'm happy to give you a straight read on it.
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