NYC Real Estate Market Update: September 2026 | Manhattan & Brooklyn

Manhattan prices continue to climb while Brooklyn sees a monthly slowdown. Here’s what the latest numbers reveal about New York City’s real estate market.

As we move into the final quarter of 2026, New York City’s residential real estate market is showing two distinct trends. Manhattan continues to demonstrate price growth, while Brooklyn is experiencing a moderation in prices and sales activity.

According to Compass’s September 2026 Market Insights reports, both boroughs saw an increase in available inventory compared to August, giving buyers more options as the fall market gets underway. However, contract activity declined across both markets, highlighting a more measured pace of transactions.

Here’s a closer look at the numbers.

Manhattan: Prices Rise Despite Slower Activity

Manhattan’s real estate market continued to show price strength in September, even as the number of signed contracts declined.

The median sale price reached $1,285,000, representing a 3.6% increase from August and an impressive 22.4% increase compared to September 2025.

The average sale price also rose to approximately $2.07 million, up 3.2% month over month.

Meanwhile, the average price per square foot reached $1,512, an 8.2% increase year over year.

Key Manhattan Market Highlights:

• Median sale price: $1,285,000 (+22.4% year over year)
• Average sale price: $2,073,502 (+1.4% year over year)
• Active inventory: 6,224 listings (+25.8% month over month)
• Contracts signed: 641 (-18.8% year over year)
• Average days on market: 99
• Average discount from initial asking price: 6%

One of the most notable developments was the increase in available inventory. Manhattan saw a 25.8% jump in listings compared to August, although overall supply remained 11.5% below September 2025.

For buyers, the increase in available properties may create additional opportunities to explore the market and negotiate. For sellers, pricing strategically remains important, particularly as buyers become more selective.

Manhattan Condos and Co-ops

The condominium market continued to show strength, with the median condo sale price reaching approximately $1.9 million, up 25.1% from September 2025.

Co-ops, meanwhile, recorded a median sale price of $899,000, representing a 9% annual increase.

Despite higher prices, both property types experienced declines in contract activity compared to the same period last year.

The takeaway? Manhattan buyers are still transacting at elevated price levels, but the pace of the market suggests that presentation, pricing, and property quality remain critical.

Brooklyn: Prices Moderate as Inventory Increases

Brooklyn experienced a different trajectory in September, with median sale prices declining month over month while remaining above last year’s levels.

The borough’s median sale price reached $1,100,000, down 10.2% from August but still 10.1% higher than September 2025.

The average sale price was approximately $1.46 million, representing an 8.5% annual increase.

Key Brooklyn Market Highlights:

• Median sale price: $1,100,000 (+10.1% year over year)
• Average sale price: $1,464,297 (+8.5% year over year)
• Active inventory: 3,430 listings (+5.8% month over month)
• Contracts signed: 421 (-18.3% year over year)
• Average days on market: 83
• Average discount from initial asking price: 4%

Brooklyn’s inventory increased modestly from August but remained 7.8% lower than September 2025.

Contract activity also softened, with 421 contracts signed during the month, compared to 515 in September 2025.

While these figures point to slower market activity, the borough’s annual price appreciation indicates that prices remain elevated compared to last year.

Brooklyn Condos, Co-ops, and Houses

Brooklyn’s condominium market saw a median sale price of $1.2 million, down 4% year over year. Condos also spent an average of 100 days on the market, compared to 88 days a year earlier.

Co-ops showed a different trend, with the median sale price increasing 5.6% annually to $540,000.

Meanwhile, Brooklyn houses recorded a median sale price of $1.4 million, a 12% increase year over year.

These differences reinforce the importance of evaluating each property type individually rather than relying solely on borough-wide averages.

Manhattan vs. Brooklyn: How Do the Markets Compare?

While both boroughs experienced a decline in contract activity, their pricing trends tell different stories.

Manhattan posted stronger annual growth in median sale prices, increasing 22.4%, compared to Brooklyn’s 10.1%.

However, Brooklyn properties generally spent less time on the market, averaging 83 days compared to Manhattan’s 99 days.

Manhattan also recorded a larger average discount from initial asking price, at 6%, compared to Brooklyn’s 4%.

Both markets saw more inventory compared to August, but listings remained below September 2025 levels.

These figures suggest that although buyers have gained some additional options heading into the fall, the overall market remains highly dependent on location, property type, and pricing.

What Does This Mean for Buyers and Sellers?

For Buyers

The increase in inventory across Manhattan and Brooklyn is a welcome development for buyers who have faced limited options.

With contract activity slowing, some properties may offer more room for negotiation, particularly those that have spent an extended period on the market.

However, the annual increases in median prices demonstrate that buyers should not assume a widespread decline in property values.

For Sellers

September’s numbers reinforce the importance of entering the market with a thoughtful pricing and marketing strategy.

Although prices remain elevated compared to last year, declining contract activity suggests buyers may be taking more time to make decisions.

Properties that are well-positioned, properly priced, and effectively marketed will be better equipped to compete as inventory increases.

Looking Ahead: NYC’s Fall Real Estate Market

As we head further into the fall season, the New York City real estate market presents a combination of price resilience and moderating transaction activity.

Manhattan continues to demonstrate strength in sale prices, while Brooklyn’s monthly price adjustments provide a different perspective on the market.

The next several months will help determine whether increased inventory translates into stronger contract activity or additional opportunities for buyers.

Whether you’re considering buying, selling, or simply keeping an eye on the market, understanding these trends is essential to making informed real estate decisions.

For a more detailed look at your neighborhood or property, contact the Randy Baruh Team at Compass for personalized market insights.

Source: Compass Manhattan and Brooklyn Monthly Market Insights, September 2026. Data sourced from ACRIS and RLS. Figures reflect reported transactions and listings available at the time of publication and may be revised.