Pictured above: 26 Pierrepont Street, Unit 2
All signs of a market that is set to crash! Demand has diminished so much that the inventory is swelling and prices are going to have to come down significantly. Our March data paints a bleak picture of the Brooklyn property market. Happy April Fools day!
As you guessed, it’s anything but the case. Heading into the Spring market, we got some new inventory in March, but I know that it was gobbled up faster then the data says. Expect higher contract signed data in early April for the deals which have not yet been reported.
In District 13, active listings bounced up to 117 from 78 in February, showing that more sellers are jumping back in ahead of the spring rush. Contracts signed, however, slowed to 42 from 66, and properties sold rose to 70 from 36. That sharp increase in closings reflects deals that were in motion earlier this year only now crossing the finish line as the bank and building process drags transactions processing.
District 15 saw a similar spring stir. Active listings increased to 126 from 98, with contracts signed dipping to 56 from 63. Properties sold landed at 62, down slightly from February’s 64, but steady enough to suggest buyer interest remains consistent heading into Q2.
Here’s a quick snapshot of how the market has shifted from February to March 2025: Both districts saw an increase in listings, giving buyers more to choose from, while closings held relatively steady. Contract activity slowed a bit, but this could be the calm before the spring surge.
If you’ve been waiting out the cold, now’s the time to get back in the game. Warmer days are here, and with them comes fresh inventory, renewed energy, and serious buyers and sellers. Whether you’re planning to make a move this season or simply want to stay ahead of the curve, we’ve got our finger on the pulse of this shifting marketplace. Stay tuned for more insights to help you navigate the market with confidence!
Our monthly report on the property market (condo and coop as well as townhouse sales, below for the month of March) in District 13 and District 15 as well as the neighborhoods that make up those school districts including Brooklyn Heights, DUMBO, Boerum Hill, Cobble Hill and Park Slope is out for March. On each image below the data is broken down based on the status of properties:
Actively for sale (private exclusive, coming soon, new listings, back on market, price increase and price reduction)
In the sale process (contract out and contract signed)
Off market (sold, temporarily off market, permanently off market, exclusive expired)
Private Exclusive and Coming Soon listings are properties that are coming to market soon that are exclusive to Compass.com (not yet on the other real estate websites). Temporary off, permanently off, and exclusive expired means that those properties did not have success selling and have come off the market. They may sell at a later date or be totally removed from the market. By tracking the number of properties in each status category you will be able to fully understand the balance of supply versus demand.
Check in with us around the 5th of the month for our monthly real estate update! Our partners, Peter and the Riolo Property Team at Compass are here to provide more detailed reports or collections of properties. Access to all listings is free, you just need an account with Compass.
Main Image: 26 Pierrepont Street, Unit 2.
