It’s time to take a look at the NYC real estate market update for Q2 2026. 

To view the full reports, visit the links below:

Corcoran NYC Real Estate Market Update Q2 2026 – Manhattan 

Corcoran NYC Real Estate Market Update Q2 2026 – Brooklyn 

To check out stats from the prior quarter, click here. 

The Breakdown

Manhattan

The spring sales season in both boroughs got off to a slow start but closed out on a strong note. 

In Manhattan, closed sales were down compared to the prior year, but they were up by 10% compared to the prior quarter. But more telling were the metrics for signed contracts. They were up both year over year and quarter over quarter, with the latter seeing a 26% gain. 

Days on market ticked down slightly compared to last year this time and inventory rose in line with seasonality. But price per square foot didn’t move all that much, posting a modest decline compared to the prior quarter. This stood in stark contrast to the median price being up both year and year and month over month. The reason for the difference was likely due to larger, more expensive homes being sold. 

Brooklyn

Brooklyn saw a very similar performance to Manhattan. 

Closed deals were down compared to Q2 2025 but up compared to Q1 2026. But the big gains were in signed contracts, which saw even bigger leaps compared to Manhattan. They were up 15% versus the previous year and a whopping 45% compared to the prior quarter. 

Inventory saw solid improvements this year, posting gains on both an annual and quarterly basis. And buyers jumped at the opportunity, causing days on market to slide compared to Q1 2026 and Q2 2025. Unlike Manhattan, however, both the median price and the average price per square foot saw quarterly and annual gains, indicating more evenly distributed market strength. 

The Takeaway

After adjusting to the market shocks caused by conflicts in the Middle East, rising gas prices and rising interest rates, the market seemed to have found its footing later in the season. And we may actually be seeing signs of a more robust recovery. It’s too early to tell for sure. We’ll have to see how the third quarter plays out. Recently, tensions have renewed in Iran and that could potentially cast a pall on things.

Additionally, even if a recovery is underway, it’s not quite marketwide. Some segments are doing very well. Others, not so much. It’s a very stratified market at the moment. That’s likely to continue through the summer.