NYC Real Estate Market Reports
Brooklyn Monthly Report
September 2026 | Condos & Co-ops
September 2026 at a Glance
Buyers signed 246 condo and co-op contracts across Brooklyn in September. That’s down 2% from a year ago and the second-slowest September in nine years. Activity fell 10% from August, which looks like a stall until you check the calendar: September 2025 dropped from August by about the same margin. The more telling number is days on market. It stretched to 107, up 22% year over year and 19% from August. Active listings climbed to 2,033, the highest monthly count since June 2022. The average contract signed 0.3% below the last asking price, the first below-ask month since February.
Under $1M Up 9%. Over $3M Up 86%. Everything in Between Fell.
Contracts under $1M rose 9% to 143, and the entry level now makes up 58% of all borough activity. At the top, 13 contracts signed above $3M, up from 7 a year ago. Between $1M and $3M, buyers signed 90 contracts, down from 114. That’s a 21% decline, and the $2M to $3M band fell hardest, down 33% to 26.
The gain above $3M is real but small, a handful of contracts on a small base. It’s also the second month in a row that the top grew. The slowdown in the middle matters more for Brownstone Brooklyn, because most of this part of the borough trades in that range. Park Slope’s median resale condo closed at $1.44M in the third quarter. A three-bedroom co-op there runs about $2.25M. When the $1M to $3M band slows, these neighborhoods feel it first.
Condos Down 9%, Co-ops Up 10%. The August Pattern, With a Wider Gap.
Condo contracts fell 9% to 144, the second straight month of annual declines after August’s 7% drop. Condo buyers are also taking longer: condo days on market rose 13% year over year. Co-op contracts rose 10% to 102, though co-ops took 117 days on average to reach contract, up 36%.
The growth in co-ops and the growth under $1M are largely the same story. Co-ops are generally the less expensive way into Brooklyn, and that’s where demand grew this fall. Condo buyers are slower and more deliberate, and for the first time in months they’re getting a little room on price.
Park Slope Contracts Fell by Half. The Listings Are Not There to Sign.
Park Slope & Gowanus: 17 contracts, down 53% from 36. This is the steepest decline in the borough and the second straight month of annual declines here. Every other measure points to supply, not demand. In the third quarter, Park Slope and Gowanus had 86 active condo and co-op listings, down 11% from a year earlier. Over the same period closings rose 18%, days on market fell to 47, and average price per square foot climbed 5% to $1,437. A neighborhood losing buyers does not sell faster at higher prices. Borough-wide listings are up 21%. That increase is not happening here. For a Park Slope owner, 17 contracts is a supply number, and supply numbers favor sellers.
Fort Greene, Clinton Hill & Prospect Heights: 20 contracts, up 5% from 19. September was flat year over year after a strong August, when the group rose 38% to 29. Taken together, the two months produced 49 contracts against roughly 40 over the same stretch last year. My read is that some of this is Park Slope demand widening its search. Prospect Heights in particular draws the same buyer, with more condo inventory to choose from.
Carroll Gardens, Boerum Hill & Red Hook: 7 contracts, down 30% from 10. At these volumes, three contracts move the percentage by 30 points, so read the two months together. August doubled to 12. Over August and September, the group signed 19 contracts against roughly 16 a year ago. The brownstone blocks here rarely have much for sale at once, and the monthly count reflects what came to market more than how many buyers were looking.
Brooklyn Heights, Cobble Hill, Dumbo & Downtown: 47 contracts, up 38% from 34. This was the largest gain in the borough in absolute terms, 13 more contracts, and it reverses August’s 16% decline. The group combines prewar co-ops on Brooklyn Heights side streets with the condo towers of Downtown and Dumbo, and the submarket figure doesn’t separate them. It does show where a buyer can still find real choice. Downtown and the waterfront have the deepest condo inventory in this part of Brooklyn, and buyers used it in September.
Bed-Stuy, Crown Heights, Lefferts Gardens & Bushwick: 34 contracts, up 21% from 28. After a flat August, this group grew in a month when the borough did not. Much of the inventory here trades below $1M, which is exactly where contract activity rose. Buyers priced out of Brownstone Brooklyn are not leaving Brooklyn. They are moving east.
Kensington, Windsor Terrace, Ditmas Park, Flatbush & Prospect Park South: 22 contracts, up 38% from 16. This is the second straight annual gain, after August rose 4%. Windsor Terrace shares a border and a park with Park Slope, at a lower price per square foot. With Park Slope listings this scarce, the logic is easy to follow.
Williamsburg & Greenpoint: 29 contracts, down 9% from 32. This is the second straight decline, following August’s 14% drop. North Brooklyn is mostly condos, and its numbers track the borough’s condo slowdown closely.
South Brooklyn: 70 contracts, down 9% from 77. This is still the busiest submarket in the borough, with 28% of all contracts, and it has now declined two months in a row after August’s 4% dip. The move is modest. It cost the borough 7 contracts, a third of what Park Slope did on its own.
2,033 Brooklyn Listings, 238 More Than August
Active listings reached 2,033 in September, up 21% year over year and the highest monthly total since June 2022. Condo listings rose 14% to 1,181. Co-op listings rose 31% to 852. Corcoran now counts its private Reserve listings and Compass Private listings in this figure, so year-over-year gains are somewhat overstated. The jump of 238 listings from August’s 1,795 is not affected by that change, because both months are counted the same way. Fall supply has arrived, but it isn’t spread evenly. Most of it is under $1M, and very little of it is in Park Slope.
Price Per Square Foot Down 5%. Contracts Slipped Below Ask.
Average price per square foot came in at $1,190, down 5% from a year ago. That ends an eight-month run of annual gains, though it’s still up 4% from August’s $1,145. Condos averaged $1,340, down 4%. Co-ops averaged $615, up 1%. The overall average fell more than either one because a larger share of contracts were co-ops, which pulls the blended figure down. Contracts signed an average of 0.3% below the last ask, down from 1.8% above in August. Condos closed 0.5% below ask, which is about $7,000 on a $1.4M apartment: some room, not much.
What September Means
Brooklyn lost 6 contracts compared with last September. Park Slope and Gowanus lost 19. Take that submarket out and the rest of the borough signed 229 contracts against 216 a year ago, up 6%. The softness is real, but it sits in two specific places. The $1M to $3M price band slowed, and buyers across the borough are taking longer to commit. Park Slope’s decline is a different story. There, too few listings are chasing a buyer pool that has not shrunk.
If you own in Park Slope, you’re selling into the thinnest supply in Brownstone Brooklyn. Well-priced listings here still go to contract in about seven weeks. But your buyer is shopping in the $1M to $3M band, the one that cooled across the borough, and that buyer has watched condo prices slip below ask for the first time since February. Scarcity gets you attention. Price gets you the contract. If you’re pricing off a spring comp, check it against where condo negotiability stands now. In Prospect Heights and Fort Greene, where there’s more competition, presentation and pricing carry more of the load.
If you’re buying, this fall gives you more room than any point this year: more listings, longer marketing times, and condos below ask. That room is widest in the larger-inventory submarkets, in Downtown and the condo-heavy parts of the borough. Do not expect it in Park Slope, where the borough averages don’t apply. The fall supply is here. October will show whether buyers in the middle of the market come back to meet it.
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