Market Overview I Soho / Nolita I May 2026
Every month, we dive into the $1M+ overall market to uncover trends, then take a closer look at new developments, the $4M+ luxury segment, and the key factors shaping our city’s real estate landscape.
In May 2026, the Brooklyn neighborhoods of Park Slope, Fort Greene, Brooklyn Heights, Cobble Hill, and Carroll Gardens saw varied trends across market segments. The $1M+ market was dynamic, with contracts signed pushing dollar volume up 30% year over year to $249M. There were 79 contracts throughout the month, led by 205 Clinton Street in Cobble Hill at $16,995,000. New listings totaled 66, topped by another Cobble Hill property, 45 Douglass Street, at $11,500,000. Sales reached 46, with a dollar volume of $124M, and the top sale was 299 Hicks Street in Brooklyn Heights at $13,250,000.
In the new development segment, there were 15 contracts signed, a huge increase of 115% year over year. Dollar volume followed with a 219% jump to $53M. The top contract was 110 Boerum Place, PH601 in Cobble Hill at $7,650,000. New listings also came in at 15, up 37% year over year, with dollar volume rising 177% to $53M and the average listing price up 103% to $3.35M. That same PH601 topped the new listings as well. Sales reached 13, a 30% increase year over year, led by 238 Degraw Street, Unit 2 at $4,491,000.
In the luxury ($4M+) segment, contracts doubled year over year to 16, with dollar volume up 111% to $114M. New listings above $4M came in at 8, and sales totaled 6. Across these categories, luxury accounted for 20% of contracts, 12% of new listings, and 13% of sales.
In the single-family segment, there were 13 contracts signed, a 160% increase year over year. The average price rose moderately, up 7% to $7.06M. New listings totaled 5, with 6 sales.
In summary, while activity varied across segments, the overall picture points to robust demand in these neighborhoods, particularly at the high end and in single-family homes.
