Brooklyn's most sought-after neighborhoods had a busy third quarter. Closings climbed in most of the six submarkets tracked in the latest Sotheby's International Realty Brooklyn Market Brief, while inventory told two very different stories: tight supply in Cobble Hill and Carroll Gardens, and growing choice in Downtown Brooklyn.
Here is what the data shows for Brooklyn Heights, Cobble Hill, Dumbo, Downtown Brooklyn, Carroll Gardens, and Boerum Hill, and what it means for buyers and sellers in New York City.
The Big Picture: More Closings, Uneven Inventory
Across the six neighborhoods covered in the report, there were 292 closings in the third quarter, up from 204 in the second quarter and 285 a year ago. Combined inventory stood at 332 listings, 24% higher than last year but 5% lower than in the second quarter.
The combined numbers hide real differences from block to block:
Brooklyn Heights: closings up 55% year-over-year to 96
Cobble Hill: closings up 90% year-over-year to 30, with inventory down 41% to just 10 listings
Dumbo: closings up 38% year-over-year to 39
Downtown Brooklyn: closings up 21% year-over-year to 68, with inventory up 71% to 125 listings
Carroll Gardens: closings up 13% year-over-year to 32
Boerum Hill: closings down 72% year-over-year to 27, against 95 closings in the third quarter of 2025
Neighborhood-by-Neighborhood Breakdown
Brooklyn Heights
Closings: 96 (+55% year-over-year, +140% from the second quarter)
Inventory: 78 listings (+16% year-over-year)
Condo median price: $2.65 million (-1% year-over-year), median price per square foot $1,590 (-4%)
Co-op median price: $1.03 million (+3% year-over-year)
New development median price: $5.00 million (+75% year-over-year), median price per square foot $2,093 (+36%)
Brooklyn Heights led the group in closings, and its condo market held steady at a median above $2.6 million.
Cobble Hill
Closings: 30 (+90% year-over-year, +117% from the second quarter)
Inventory: 10 listings (-41% year-over-year, -29% from the second quarter)
Condo median price: $1.75 million (-28% year-over-year)
Co-op median price: $866,000 (-36% year-over-year)
Closings nearly doubled while available inventory fell to just ten listings, which makes Cobble Hill one of the tightest markets in Brooklyn right now. Prices were lower than a year ago, but with so few sales a handful of transactions can move the averages.
Dumbo
Closings: 39 (+38% year-over-year)
Inventory: 75 listings (+9% year-over-year, -12% from the second quarter)
Condo median price: $1.60 million (-7% year-over-year), median price per square foot $1,370 (+7%)
New development median price: $1.81 million (-1% year-over-year)
Dumbo condo prices dipped year-over-year, but the median price per square foot rose 7%.
Downtown Brooklyn
Closings: 68 (+21% year-over-year, +6% from the second quarter)
Inventory: 125 listings (+71% year-over-year, flat from the second quarter)
Condo median price: $1.26 million (+20% year-over-year)
Co-op median price: $575,000 (+7% year-over-year)
New development median price: $2.02 million (-5% year-over-year)
Downtown Brooklyn offers buyers the most choice of the six neighborhoods, and condo prices still rose 20% year-over-year.
Carroll Gardens
Closings: 32 (+13% year-over-year, +58% from the second quarter)
Inventory: 11 listings (+22% year-over-year, -21% from the second quarter)
Condo median price: $1.70 million (+30% year-over-year), median price per square foot $1,562 (+21%)
Co-op median price: $1.78 million (+51% year-over-year)
Carroll Gardens posted some of the strongest price growth in the report, again on a small base of sales.
Boerum Hill
Closings: 27 (-72% year-over-year)
Inventory: 33 listings (flat year-over-year, +6% from the second quarter)
Condo median price: $2.28 million (+25% year-over-year), median price per square foot $1,537 (+10%)
New development median price: $2.90 million (+57% year-over-year)
The year-over-year decline in closings reflects a very high comparison point from last year, and condo values rose even as sales volume fell.
What This Means If You're Buying in Brooklyn
In Cobble Hill and Carroll Gardens, inventory is extremely limited, so be ready to move when a home that fits comes to market
In Downtown Brooklyn, more listings means more room to compare options and negotiate
In Brooklyn Heights and Boerum Hill, condo median prices sit between roughly $2.3 million and $2.7 million, so pricing varies widely from one neighborhood to the next
What This Means If You're Selling in Brooklyn
Sellers in low-inventory neighborhoods like Cobble Hill and Carroll Gardens face limited competition from other listings
Sellers in Downtown Brooklyn are competing with a much larger pool of active listings, so pricing and presentation matter
Neighborhood-level data matters more than the borough average: a median price in a small submarket can swing sharply on just a few sales, so a strategy built around comparable sales is essential
The Bottom Line
Brooklyn is not one market. Closings rose in five of the six neighborhoods tracked, but inventory, pricing, and momentum varied widely. The right move depends on which neighborhood, which building type, and which side of the transaction you are on.
Thinking About Buying or Selling in Brooklyn?
Neighborhood data shows you the trends, but it cannot tell you what they mean for your specific home, budget, or timeline. If you are weighing when to list, what your budget buys in Brooklyn Heights or Cobble Hill, or whether a property is priced right, let's talk.
Source: Sotheby's International Realty Brooklyn Market Brief Q3 2026 (select data from key Brooklyn submarkets). Figures are based on publicly reported closed sales information via ACRIS and the REBNY Listing System (RLS). Final closed data for the quarter had not been fully reported at the time the