As we move through the final weeks of summer, New York City’s real estate market continues to demonstrate resilience. Buyers are becoming more thoughtful in their decision-making, inventory is gradually improving, and well-priced homes continue to attract strong interest across Manhattan, Brooklyn, and many of the city’s most desirable neighborhoods.
Although higher mortgage rates remain part of today’s market, they haven’t stopped serious buyers from making moves. Instead, we’re seeing a healthier and more balanced market where buyers have more choices, sellers continue to benefit from steady demand, and luxury properties remain one of the strongest segments of New York City’s housing market.
The latest StreetEasy June 2026 Housing Market Report reinforces what I’m experiencing every day while working with buyers and sellers throughout Manhattan and Brooklyn. Here’s what happened in June—and what it could mean if you’re thinking about buying, selling, or investing in New York City.
A Stronger Sales Market Than Many Expected
June was another encouraging month for New York City’s sales market.
According to StreetEasy, homes entering contract increased 18.6% compared to June 2025, while new listings increased 13.1% year over year.
These numbers tell us two important things.
First, more homeowners are choosing to bring their properties to market.
Second, buyers continue to purchase homes at a healthy pace despite elevated mortgage rates.
Unlike the highly competitive market of several years ago, today’s buyers have more opportunities to compare properties, negotiate terms, and make informed decisions before submitting an offer.
However, that doesn’t mean the market has slowed down.
Properties that are well-priced, professionally presented, and located in desirable neighborhoods continue to attract significant interest and often sell quickly.
The market hasn’t become weaker—it has simply become more balanced.
Luxury Real Estate Continues to Lead
One of the most significant stories from June was the continued strength of New York City’s luxury housing market.
StreetEasy reported that contract activity increased across every price point, but the luxury segment significantly outperformed the broader market.
Luxury resale condominiums experienced rising inventory while continuing to generate strong contract activity.
Luxury townhouses recorded their highest number of signed contracts since 2010, demonstrating continued demand for larger homes with private outdoor space and flexible layouts.
Luxury co-ops also experienced increased buyer activity, although inventory remains relatively limited among many of Manhattan’s most prestigious addresses.
This mirrors what I’m seeing firsthand with my clients.
Luxury buyers continue to recognize New York City as a long-term investment. They’re taking more time to evaluate opportunities, but they’re absolutely still making purchasing decisions when the right property becomes available.
The Rental Market Remains Competitive
The rental market continues to be one of the most competitive segments of New York City’s housing market.
In June, the citywide median asking rent reached $4,200, the highest June median asking rent ever recorded by StreetEasy.
Brooklyn was the only borough to experience a noticeable increase in rental inventory, while Queens continued to offer the highest percentage of rental concessions due to a growing number of newly completed apartment buildings.
Although renters may find additional opportunities in certain neighborhoods, demand across New York City remains exceptionally strong.
For many people planning to stay in the city long-term, rising rental costs continue to raise an important question:
Does buying make more financial sense than continuing to rent?
While every situation is different, building equity through homeownership often becomes a compelling long-term financial strategy compared to paying rising rents year after year.
What This Means for Buyers
Today’s market offers buyers something we haven’t seen in several years—more choices.
Inventory has gradually improved across many neighborhoods, allowing buyers to compare properties more carefully before making a decision.
This additional inventory has also created greater opportunities to negotiate price and contract terms.
However, buyers shouldn’t mistake a balanced market for a slow one.
Well-maintained, move-in-ready homes that are priced correctly continue to attract strong interest.
If you’re considering purchasing a home before the end of the year, now is an excellent time to begin preparing by understanding your financing options, researching neighborhoods, and working with an experienced local real estate professional.
What This Means for Sellers
For homeowners considering selling, today’s market continues to provide excellent opportunities.
Serious buyers remain active, particularly in Manhattan’s most desirable neighborhoods.
The biggest difference today is that buyers are more informed than ever.
They compare multiple properties, study recent comparable sales, and expect homes to be priced competitively.
That makes preparation more important than timing.
Professional photography, thoughtful staging, strategic marketing, and realistic pricing continue to be the biggest factors in generating strong buyer interest and successful sales.
Looking Ahead to the Fall Market
Historically, September and October represent one of New York City’s busiest real estate seasons.
As buyers return from summer vacations and refocus after Labor Day, activity often increases heading into the fall.
For sellers, August is an ideal time to prepare a property for the market.
For buyers, it’s an excellent opportunity to organize financing, narrow neighborhood preferences, and begin touring properties before competition typically increases.
Planning ahead almost always leads to better opportunities.
Michael’s Perspective
One thing I’ve learned throughout my career is that there is never a “perfect” market.
Every market creates opportunities.
Today’s market is healthier than it has been in several years.
Buyers have more choices.
Sellers continue to benefit from steady demand.
Luxury real estate remains exceptionally active.
Most importantly, both buyers and sellers have more time to make thoughtful, informed decisions.
Whether you’re purchasing your first apartment, upgrading to a larger home, downsizing, or investing in New York City real estate, understanding today’s market is far more valuable than trying to predict tomorrow’s headlines.
Frequently Asked Questions
Is now a good time to buy in New York City?
If you’re financially prepared and planning to own your home for several years, today’s market offers more inventory and greater negotiating opportunities than we’ve seen in recent years.
Is the luxury market slowing down?
No. June’s market data showed continued strength in the luxury market, with resale condominiums, luxury co-ops, and townhouses all experiencing healthy buyer activity.
Are home prices declining?
Not broadly. While some sellers are adjusting prices to remain competitive, well-priced homes in desirable neighborhoods continue to attract strong buyer interest.
Should I wait for mortgage rates to come down?
No one can accurately predict future interest rates. Waiting could also mean facing more competition if rates decline. The better approach is determining whether buying now aligns with your personal financial goals.
Is now a good time to sell?
Yes. Homes that are professionally marketed, strategically priced, and presented well continue to perform strongly in today’s market.
Thinking About Buying or Selling?
Every neighborhood has its own story, every building has its own market, and every client has unique goals.
If you’re considering buying, selling, investing, or simply curious about your home’s current value, I’d be happy to help you navigate today’s market and develop a strategy that’s right for you.
Let’s start the conversation.
Source: Market statistics referenced in this article are based on the StreetEasy June 2026 NYC Housing Market Report, combined with Michael Bhagwandin’s experience representing buyers and sellers throughout Manhattan and Brooklyn.
