A Confident Market Finds Its Momentum Again
New York City is entering a new era of real estate strength and stability, and this fall season has proven to be one of the most promising in recent years. According to StreetEasy’s latest report, the city experienced its strongest start to the fall market since 2021, with nearly 4,600 homes hitting the market in September—a 10% uptick from the previous quarter. Buyers responded enthusiastically, and nowhere was that energy more evident than in Brooklyn, which continues to lead New York’s housing surge.
At Duke Properties, we see this as more than just a seasonal spike—it’s a sign of renewed buyer confidence and the city’s deep-rooted resilience. Even amid national uncertainty, New Yorkers remain steadfast in their desire to live, invest, and build in the city that never stops reinventing itself.
Brooklyn Takes the Lead in a Competitive Landscape
Brooklyn has once again become the heartbeat of New York’s housing market. The borough dominated StreetEasy’s September roundup of neighborhoods where homes sold above asking price, claiming six of the top ten spots. In neighborhoods like Prospect Heights and Park Slope, competition reached record levels, with nearly half of all homes selling over the asking price.
In Prospect Heights, 47% of homes sold above list price, with median sale prices hitting $1.31 million. Park Slope followed closely, where 44% of homes sold over asking, reaching a median of $1.4 million. These figures speak volumes about Brooklyn’s continued desirability—not only for families but also for young professionals and investors looking for lasting value in neighborhoods rich with history, architecture, and community.
As mortgage rates begin to ease, buyers who had been on the sidelines are stepping back into the market. The fall has brought with it a sense of cautious optimism, and that’s translating into faster transactions—Brooklyn homes sold 10 days faster than last year, with nearly a quarter of all listings trading above asking.
A Broader Citywide Reawakening
The surge in Brooklyn is part of a larger story: New York City’s housing market is alive and well. Citywide, more than 1,700 homes entered into contract in September, the most for that month since 2021. That represents a 10% year-over-year increase, reaffirming that demand across the five boroughs remains steady despite shifting market conditions.
Manhattan also maintained its strength, with iconic neighborhoods such as the West Village and Greenwich Village performing exceptionally well. The West Village saw 38% of homes sell above list price with a median sale price of $1.35 million, while Greenwich Village recorded 28% of sales over ask and a median of $1.25 million. Even in an environment where buyers are more selective and interest rates remain a talking point, New Yorkers continue to prioritize quality, location, and long-term value.
In Queens, charming enclaves like Forest Hills drew consistent buyer attention, with nearly one in four homes selling for above asking. Meanwhile, Riverdale in The Bronx quietly strengthened its position as one of the city’s most stable outer-borough markets, offering affordability alongside easy access to Manhattan.
Brooklyn Leads: Optimism and Opportunity for the Future
At Duke Properties, our view of New York’s real estate market has always been rooted in one simple truth: this city endures and evolves in cycles, but it never retreats. Today’s market—defined by strategic buyers, motivated sellers, and more balanced conditions—represents an ideal window for both investors and homeowners.
For sellers, now is the time to capture the momentum of renewed buyer confidence. For buyers, especially those seeking long-term growth, neighborhoods like Brooklyn Heights, Fort Greene, and Cobble Hill present remarkable opportunities to enter thriving communities where demand and value continue to climb.
Albert Dweck, CEO of Duke Properties, notes:
“We’ve always believed that New York real estate rewards those who think beyond the headlines. When others see uncertainty, we see possibility. What’s happening now—especially in Brooklyn—is a reflection of New Yorkers’ confidence in their city and in their future.”
Conclusion: A Season of Strategic Growth
As we move deeper into the final quarter of 2025, New York’s real estate market is proving to be both stable and opportunity-rich. With strong fundamentals, renewed buyer enthusiasm, and easing mortgage pressures, the stage is set for continued growth heading into 2026.
At Duke Properties, we remain committed to creating and investing in communities that reflect the energy, diversity, and resilience of this great city. Brooklyn’s record-breaking momentum isn’t just a seasonal story—it’s a sign of New York’s lasting power and the promise that, even after challenges, the city always comes back stronger.