Manhattan and Brooklyn Real Estate Market Report: June 2026

New York City’s residential market closed out June 2026 with rising prices, stronger year-over-year contract activity and fewer homes available for sale across both Manhattan and Brooklyn.

Although activity eased slightly from May as the spring market transitioned into summer, demand remained ahead of June 2025. Sales increased in both boroughs, while declining inventory continued to support values—particularly for well-priced condos, co-ops and houses in desirable locations.

Prices Rose Across Manhattan and Brooklyn

Both boroughs recorded significant year-over-year increases in their median sale prices.

In Manhattan, the median price reached $1.325 million, up 15.2% from June 2025. The average sale price increased 6.5% to approximately $2.25 million.

Brooklyn’s median sale price rose to $1.15 million, representing a 15.6% year-over-year increase. The average Brooklyn sale price reached approximately $1.52 million, up 15.2% from the previous June.

The figures demonstrate continued demand across both markets, even as buyers remained selective and sensitive to a property’s condition, location and pricing.

Sales and Contracts Remained Ahead of Last Year

Manhattan recorded 1,182 sales in June, an increase of 20.1% from May and 3.1% from June 2025. A total of 1,101 contracts were signed, down modestly from May but 6.3% higher than a year earlier.

Brooklyn recorded 813 sales, increasing 14% from May and 9.4% year over year. Its 629 signed contracts represented an 8.4% increase from June 2025.

The month-over-month decline in contract activity—3.5% in Manhattan and 15.9% in Brooklyn—was consistent with the market beginning to move beyond the height of the spring selling season. However, year-over-year growth in both boroughs indicates that buyers remained active.

Inventory Continued to Decline

Limited supply remained one of the most important forces shaping the market.

Manhattan had 6,728 active listings in June, down 7.9% from the previous year. Brooklyn inventory declined even further, falling 10.1% to 3,285 available properties.

This reduction created fewer choices for buyers and helped support pricing. It also placed greater importance on preparation. Buyers competing for standout properties benefited from having financing, legal representation and offer strategies organized in advance.

For sellers, declining inventory created an opportunity—but not a guarantee. Buyers continued to distinguish carefully between accurately priced homes and those requiring significant work or carrying unrealistic asking prices.

Manhattan Condos and Co-ops Recorded Price Growth

The Manhattan condo market remained active, with 487 sales in June—1.9% more than the previous year. Condo contracts increased 7%, while inventory declined 8.2%.

The median condo sale price reached $1.825 million, up 13.8% year over year. The average condo price was approximately $2.97 million.

Manhattan co-ops also delivered strong results. The median co-op price increased 12.9% to $987,500, while the average rose 12.5% to approximately $1.59 million.

Co-op sales climbed 41% from May and 4% from the previous June. Contracts increased 7.2% year over year, suggesting sustained interest in properties offering value relative to comparable condominiums.

Brooklyn Condos Led the Borough’s Market

Brooklyn condos were among the month’s strongest-performing property categories.

The median Brooklyn condo price rose to $1,318,817, an increase of 19.9% from June 2025. The average condo price reached approximately $1.54 million, up 9.9%.

Condo sales increased 28.3% year over year, while signed contracts rose 23.4%. At the same time, available condo inventory declined 8.7%.

That combination of higher sales, more contracts and fewer listings created a competitive environment for quality condos, particularly those offering strong design, outdoor space, desirable views or convenient access to transportation.

Brooklyn Houses Continued to Appreciate

The average Brooklyn house price reached approximately $1.86 million, up 16.5% from June 2025. The median price increased 6.5% to $1,378,500, while the average price per square foot rose 13.4%.

House sales increased 14.9% year over year, even as available inventory fell 15.1%.

The limited supply of townhouses, multifamily homes and larger residences continued to support prices. However, contract activity was nearly unchanged from last year, indicating that buyers remained discerning and that pricing varied considerably by neighborhood, condition and property configuration.

Brooklyn Co-ops Presented a More Mixed Picture

The Brooklyn co-op market improved from May but remained softer on a year-over-year basis.

The median co-op price reached $515,000, up 10.8% from May but down 6.7% from June 2025. Sales rose month over month but declined 23% from the previous year.

Contract activity offered a more encouraging signal, increasing 4.2% year over year.

For value-focused buyers, co-ops may continue to provide opportunities. However, monthly maintenance, building financials, sublet policies and renovation requirements remain important considerations.

Manhattan Townhouse Results Reflected a Small, High-Value Market

Fourteen Manhattan townhouses sold during June at an average price of approximately $8.9 million. The average increased 16.6% from the previous year, although the median declined slightly to approximately $6.39 million.

Because the townhouse market includes relatively few monthly transactions, individual high-value sales can significantly affect averages. Still, the 17.8% year-over-year increase in average price per square foot points to continued demand for exceptional Manhattan townhouses.

Homes Took Longer to Enter Contract

The average Manhattan property spent 115 days on the market, compared with 99 days in June 2025. Brooklyn properties averaged 90 days, up from 80 days the previous year.

The average discount from the initial asking price was 6% in Manhattan and 4% in Brooklyn.

These figures reinforce that limited inventory alone does not ensure a fast sale. Strategic pricing, thoughtful preparation and strong marketing remain essential—especially for properties competing with renovated or particularly well-positioned alternatives.

What June’s Market Means for Buyers and Sellers

For buyers, declining inventory and rising median prices make preparation increasingly important. Understanding recent comparable sales and acting decisively can create an advantage when a well-priced property becomes available.

For sellers, the current environment presents a meaningful opportunity. Sales and contracts remain ahead of last year, while the number of competing listings has declined. Still, today’s buyers are informed and selective. Properties that launch with accurate pricing, strong presentation and a carefully planned marketing strategy remain best positioned to achieve a successful result.

Manhattan and Brooklyn entered the summer with healthy transaction activity, rising prices and constrained supply. While performance varied by property type, the overall June market continued to demonstrate the resilience of New York City real estate.

Thinking about buying or selling in Manhattan or Brooklyn? Contact Randy Baruh for a personalized assessment of your property, neighborhood and position in the current market.