Is the Market Moving? Or Just Holding Its Breath?

Ever feel like you're watching a pot that refuses to boil? That’s kind of what’s happening with Brooklyn and Manhattan real estate right now. Inventory is tight, demand is steady, and sellers are playing a cautious game. But spring is around the corner, and the market could be gearing up for a shift.

Let’s break down what’s happening in both boroughs, what it means for buyers and sellers, and how pricing strategy is more important than ever.

Brooklyn: A Seller’s Market… Sort Of

If you’re selling in Brooklyn, you’re in a unique position. Inventory is low—only 2,852 units available—which should mean good news, right? Well, sort of. The supply has actually dipped by 1.5% this week, but it’s still higher than last year. That tells us one thing: the Brooklyn market has a supply problem.

Buyers, Here's Your Challenge:

• Fewer options mean more competition, especially for well-priced properties.

• Signed contracts are up 5% this week, showing steady demand.

• Expect negotiations, but don’t count on huge discounts—sellers who price right are closing deals fast.

Sellers, This is Your Moment—But Price Smart

• Homes that sell within 60 days only see a 1% discount off asking price.

• But if your listing lingers past 120 days, expect to negotiate up to 8% off.

• New listings dropped by 26% this week—buyers are waiting, but they need more options.

So, what’s the takeaway? If you’re a seller, list at the right price from the start. If you’re a buyer, be prepared to move fast and negotiate wisely.

Manhattan: A Waiting Game in Progress

Now let’s talk about Manhattan. The market here feels like it’s in a bit of a holding pattern. Inventory is sitting at 5,599 units, barely moving (+0.4% this week). That’s a slow trickle compared to the usual surge we expect as we head toward spring.

Buyers, Stay Patient—More Listings Are Coming

• New supply is down 5% this week and 8% lower than last year, but spring should bring a wave of fresh listings.

• Signed contracts are up 4%, meaning deals are happening—but the real action is likely still a few weeks away.

• If you’re looking for a deal, watch for overpriced listings that have been sitting for 90+ days.

Sellers, the Market is Talking—Are You Listening?

• Just like Brooklyn, pricing is everything in Manhattan.

• Homes that sell fast (under 60 days) only see a 1% discount.

• If your property sits too long (120+ days), you could be looking at a 9% price cut.

The good news? The pricing penalty for slow-moving listings has improved. A few months ago, that discount was 11%, meaning the market may be gaining strength heading into spring.

What This Means for Spring 2025

We’re in a bit of a transition phase. Buyers are watching, sellers are hesitating, and everyone is wondering what the next few months will bring. Here’s what we do know:

• Expect more listings in March and April—especially in Manhattan.

• Negotiations are happening, but well-priced homes are still selling near asking.

• Brooklyn’s inventory crunch could get worse, making competition fiercer for buyers.

• Manhattan is moving slowly, but signs of momentum are starting to show.

For buyers, patience and preparation are key. Get pre-approved, know your budget, and be ready to jump when the right home comes along. For sellers, price realistically from day one. The longer you wait to adjust, the more you’ll have to cut later.

Spring is coming, and the market is about to wake up. The question is: Will you be ready when it does?