NYC Real Estate Market Reports
Brooklyn Monthly Report
August 2026 | Condos & Co-ops
August 2026 at a Glance
Brooklyn recorded 272 signed contracts in August, down 3% year over year and the slowest August in at least ten years. Month over month, contracts fell 24% versus July, consistent with typical late-summer deceleration, though the annual comparison removes the seasonal effect. The first year-over-year decline since April reflects a softening at the lower end of the market: contracts below $2M fell 6%, while contracts above $2M rose 23%, driven by robust new development activity in Boerum Hill and Downtown Brooklyn. Days on market held flat year over year at 90 days, only the second month in 2026 where marketing time did not improve annually.
The Split Is Widening: Above $2M Up 23%, Below $2M Down 6%.
The price range breakdown for August is the clearest picture yet of where this market actually is. Contracts under $1M were essentially flat at 170, down just 1%. The $1M to $1.5M range fell 23% to 37 contracts, the weakest segment of the month. The $1.5M to $2M band fell 8% to 33 contracts. Then the split: the $2M to $3M range rose 11% to 20 contracts, and the over-$3M segment jumped 50% from 8 contracts to 12. The buyers who are active in this market in August are concentrated at price points where rate sensitivity matters less and where product quality and location are the primary drivers. The buyers who have pulled back are in the middle, particularly the $1M to $1.5M band that represents a significant share of the Brownstone Brooklyn buyer pool.
Condos Down 7%, Co-ops Up 3%. The Pattern Reversed.
Condo contracts fell 7% year over year to 159, while co-op contracts rose 3% to 113. This is a notable reversal from the pattern that defined most of 2026, where condos consistently outperformed co-ops. August does not settle the question of which direction each product type is heading, but it is worth watching. Co-op negotiability ran at 3.9% above asking price, the sixth-highest figure recorded since 2017. Co-op bidding wars at the right price points are not going away. Condo negotiability was essentially zero.
Where the Volume Was in August
Fort Greene, Clinton Hill, and Prospect Heights posted 29 contracts, up 38% year over year, the strongest annual gain of any submarket and the fourth consecutive month of positive results here. This submarket has been one of the most consistent performers in the borough all year. Limited inventory, motivated buyers, and properties moving at 47 days on market in Q2 define the dynamic.
Carroll Gardens, Boerum Hill, and Red Hook recorded 12 contracts, up 100% year over year. That doubling needs context: August 2025 had just 6 contracts, a historically low figure in a supply-constrained submarket. The 12 contracts this August is still a modest number, but the direction reflects genuine demand meeting incrementally more product.
Bedford-Stuyvesant, Crown Heights, Lefferts Gardens, and Bushwick came in at 36 contracts, flat year over year. Steady in a submarket where relative affordability continues to attract buyers who have been priced out of the core. Flat is not a bad result here in what is typically a slower month.
Kensington, Windsor Terrace, Ditmas Park, Flatbush, and Prospect Park South posted 27 contracts, up 4% year over year. A modest positive result in a submarket that has been struggling. The gains here are driven by the sub-$1M price points that define this corridor, where demand is thin but not absent.
Park Slope and Gowanus recorded 22 contracts, down 29% year over year. A sharp pullback in the borough's most supply-constrained submarket. Inventory in Park Slope fell 22% year over year in Q2 and has not materially recovered. When there is nothing to buy, there is nothing to contract on. The demand has not disappeared. The listings have.
Brooklyn Heights, Cobble Hill, Dumbo, and Downtown posted 36 contracts, down 16% year over year. A pullback after several months of strong gains. The luxury activity driving the $2M-plus numbers is present here, but overall volume declined as some of the spring momentum faded into the summer slowdown.
Williamsburg and Greenpoint came in at 31 contracts, down 14% year over year. Essentially a supply and timing story in a submarket that has been inconsistent month to month throughout 2026.
Southern Brooklyn recorded 79 contracts, down 4% year over year. The largest submarket by volume but consistently the weakest story, with inventory at a second-quarter record and demand concentrated at price points that remain rate-sensitive.
Inventory Rose 22%. The Highest August Level Since 2021.
Active listings climbed 22% year over year to 1,795, the highest August inventory figure since 2021 and the eleventh consecutive month of annual supply growth. Condo listings were up 17% annually. Co-op inventory rose 30% year over year. The supply accumulation that has been building all year accelerated in August. The important distinction remains where it is building. Co-op inventory is up 30% while co-op bidding wars are running at some of the highest levels in years. That combination tells you the inventory building is not in the buildings and price points buyers actually want. It is in the listings that have been sitting because the pricing has not met the market.
Pricing Held. Eighth Consecutive Month of Annual Price Per Square Foot Gains.
Average price per square foot rose 3% year over year to $1,145, the eighth consecutive month of annual gains. Condo price per square foot rose 2% to $1,321. Co-op price per square foot rose 3% to $582. The overall negotiability figure of 1.8% above ask, up 2.2 points year over year, reflects the continuing pattern of motivated buyers competing on well-positioned product. The data makes the same case it has made every month this year: the market is not uniformly soft. The listings accumulating days on market are doing so because of pricing. The listings priced correctly are still moving, in many cases above ask.
What August Actually Means
A ten-year August low sounds alarming. The context matters. August is seasonally the slowest month in Brooklyn's real estate calendar, and this August's 272 contracts is a decline of 9 transactions from last August's 281. The softness is real but it is concentrated: below $2M, in condos, and in the rate-sensitive submarkets. Above $2M, the market grew 23%. In Fort Greene and Carroll Gardens, it grew. In Park Slope, the drop is almost entirely a supply problem.
For sellers: August is not the month to read for market direction. What matters more is the inventory number, 1,795 active listings, the highest since 2021, and the price per square foot holding at 8 consecutive months of annual gains. Sellers who priced correctly are still closing. The growing inventory is a warning to sellers who have been holding out at aspirational prices: more competition is arriving, and buyers are not rewarding patience with higher offers.
For buyers: the fall market begins in September and historically brings a meaningful uptick in both new listings and contract activity. A buyer who is prepared now, with financing confirmed and an attorney engaged, is positioned to move quickly when the right property appears. The co-op market in particular continues to surprise with bidding wars on well-priced units.
Thinking About a Move?
How the current market data affects your neighborhood, block, building, and price point is critical. If you are thinking about buying or selling, the current market rewards preparation and timing.