Pictured above: 42 Monroe Street
The Riolo Properties Team at Compass has released their monthly report on the property market in District 13 and District 15—your inside look at how Brooklyn real estate is moving this month!
May 2026 Market Snapshot: Buyers Are Showing Up
If April was about momentum, May was about conviction. Spring buyers are out and they continue to gobble up quality properties. Despite continued economic uncertainty and plenty of headlines competing for our attention, Brooklyn posted another strong month, particularly with well-priced and well-positioned properties selling incredibly fast at big numbers.
In District 13, active listings held relatively steady at 84 compared to April’s 86, while contract activity remained strong with 60 signed contracts, just slightly below April’s 64. Closings held firm at 53 for the second consecutive month. What stands out here is the consistency. Even as inventory levels stabilized, buyers continued to absorb available opportunities, suggesting demand remains healthy heading into the summer market. The big news here is that we are just a hair off of the 12-month high in contracts signed.
District 15 delivered one of the strongest performances we’ve seen this year. Active listings declined sharply to 69 from April’s 122, while contract activity increased to 67 signed contracts, surpassing April’s 57. Closings also rose meaningfully to 64 from 53 the previous month. Just when it looked like we had some inventory building, this month’s data shows a 12-month high in contracts signed and an inventory drop to its lowest since December 2025.
What stands out in May is that demand continues to outpace supply in many segments of the market. There simply isn’t enough inventory! While buyers may be more selective than they were a few years ago, they are still moving quickly when the right opportunity presents itself. With the stock market at all-time highs, even the recent uptick in inflation and higher mortgage interest rates have not quelled buyer demand.
The spring market may be nearing its traditional peak, but if I were a seller, I would have no hesitancy about listing my property for sale this summer because there simply is not enough product out there.
Other BIG NEWS landed this week in NYC: the pied-à-terre tax. The Mandami administration passed NYC’s first-ever pied-à-terre tax, which they said will raise $500mm in tax revenue. The structure is complicated to say the least, but Peter just posted a video to share who is at risk of the tax and how the taxes are calculated.
As always, The Riolo Properties Team at Compass is here to help the Brooklyn Bridge Parents community achieve their real estate goals.
May Property Spotlight
A beautifully restored four-bedroom brownstone in Bed-Stuy, featuring sun-filled rooms, premium open kitchens, and a beautiful private backyard.
Reach out for details about this listing: 42 Monroe Street
District 13 residential listings & sales last 12 months
District 15 residential listings & sales last 12 months
Peter and the Riolo Property Team at Compass will be back next month with their real estate update! Their team is 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: 42 Monroe Street
