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Brooklyn & Manhattan Real Estate Market Update
February 2026
As we move further into the first quarter of 2026, the February data offers a clearer picture of how both Brooklyn and Manhattan are positioning themselves ahead of the spring market. Activity is beginning to pick up in key segments, prices remain resilient, and inventory continues to tighten slightly—creating a landscape where well-prepared buyers and properly priced listings are finding traction.
Below is a closer look at what February revealed across both boroughs.
Brooklyn: Rising Prices and a Sharp Jump in Contracts
Brooklyn’s February market showed a noticeable increase in buyer activity alongside continued price growth.
The average Brooklyn sale price rose to $1,557,278, representing a 10.3% increase from January and a 13.1% increase year-over-year. Meanwhile, the median sale price climbed to $1,155,000, up 5.5% month-over-month and nearly 7% higher than February 2025, highlighting continued strength in Brooklyn property values.
Brooklyn 2026 February Report
Price-per-square-foot also moved higher, reaching $1,003, reflecting steady demand for well-located and well-renovated homes.
Brooklyn 2026 February Report
Market activity accelerated significantly compared with January:
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Contracts signed jumped 30.2% month-over-month
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Sales recorded dipped slightly by 5.8%, which is typical since closings tend to lag contracts
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Inventory declined slightly to 2,985 listings, indicating stable supply
Average time on market rose modestly to 88 days, though still notably faster than the 97-day average a year ago, suggesting buyers are still moving decisively on compelling properties.
By Property Type
Condos continued to lead Brooklyn’s price growth.
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Average price: $1.74M (+14% month-over-month)
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Median price: $1.315M (+10.5% year-over-year)
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Price-per-square-foot increased to $1,379.
Brooklyn 2026 February Report
Co-ops saw steady gains as well.
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Median price rose 5.3% month-over-month to $508,000
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Price-per-square-foot surged 26.6% year-over-year, indicating stronger demand in this segment.
Brooklyn 2026 February Report
Houses and townhomes continued to attract buyers seeking more space.
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Average price reached $1.73M, up 7.9% month-over-month
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Contracts increased nearly 30%, showing renewed demand for Brooklyn houses.
Brooklyn 2026 February Report
Takeaway: Brooklyn’s February market showed stronger momentum than January. Rising prices combined with a sharp increase in contracts suggest buyers are beginning to re-enter the market ahead of the spring season.
Manhattan: Higher Prices and Increasing Buyer Activity
Manhattan’s February numbers revealed a similar pattern—pricing strength combined with growing contract activity.
The average Manhattan sale price rose to $2,729,529, marking a 14.1% increase month-over-month and a 7% increase year-over-year.
Manhattan 2026 February Report
The median sale price landed at $1,335,000, down slightly from January but still 2.7% higher than February 2025, reflecting continued long-term price stability.
Manhattan 2026 February Report
Price-per-square-foot held relatively steady at $1,553, showing that values across unit sizes remain strong.
Manhattan 2026 February Report
Market activity strengthened in February:
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Contracts signed increased 17% month-over-month
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Inventory declined slightly to 5,529 listings
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Recorded sales fell 14.9%, again reflecting the typical lag between signed contracts and closings
Average time on market increased to 117 days, though this remains an improvement compared to last year’s pace.
By Property Type
Condos continued to drive Manhattan’s luxury segment.
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Average price: $3.48M (+7.5% month-over-month)
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Median price: $1.85M
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Price-per-square-foot: $1,778.
Manhattan 2026 February Report
Co-ops saw one of the strongest pricing moves this month.
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Average price jumped nearly 20% month-over-month to $1.68M
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Median price rose to $900,000.
Manhattan 2026 February Report
Townhouses showed dramatic pricing swings due to limited transaction volume.
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Average sale price reached $18.4M, more than double January’s figure
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Median price climbed to $10.7M, reflecting several high-end closings.
Manhattan 2026 February Report
Takeaway: Manhattan’s February market showed growing momentum, with stronger contract activity and rising average prices—particularly in the luxury and townhouse segments.
What This Means Heading Into Spring
February’s data suggests both boroughs are entering the spring market with increasing momentum.
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Brooklyn is seeing accelerating contract activity and steady price growth across condos, co-ops, and houses.
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Manhattan continues to demonstrate strong pricing power, particularly in the luxury and condo markets.
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Inventory remains slightly constrained, which could lead to increased competition for desirable properties in the coming months.
For buyers, preparation and timing will be key as the spring market ramps up. For sellers, February’s data reinforces that well-priced homes—especially those in move-in condition—continue to attract strong interest.