A Positive Shift in the New York City Market
Albert Dweck of Duke Properties sees September’s surge in New York City home sales as a clear reflection of renewed confidence and enduring demand. With nearly 4,600 homes hitting the market — a notable 10% increase from last season — the city’s fall market has reasserted its strength, marking its most active start since 2021.
“The energy in the market right now speaks volumes about New York’s continued appeal,” says Dweck. “Despite broader economic shifts, buyers are coming forward with conviction — and that’s a strong signal for sustainable growth.”
Brooklyn Takes Center Stage
Brooklyn, in particular, has become the standout success story of the season. Neighborhoods like Prospect Heights, Park Slope, and Williamsburg are leading the way, with homes selling faster and often well above asking price. Nearly half of all listings in Prospect Heights sold for more than the listed amount — a sign, Dweck says, of genuine competition and value recognition.
“When people compete for properties, it’s because they see long-term promise — in the home, in the neighborhood, and in the city,” Dweck explains. “Brooklyn continues to deliver all three.”
Duke Properties has long recognized the borough’s blend of character and potential. With its mix of brownstone architecture, tree-lined streets, and access to key cultural and green spaces, Brooklyn embodies the perfect mix of lifestyle and investment appeal.
Momentum and Market Maturity
“This isn’t speculative growth — it’s confidence-driven movement,” says Dweck. “Buyers are active, but they’re also informed. They understand the long-term stability that comes with owning in a city that continues to evolve and innovate.”
Brooklyn’s performance — with neighborhoods such as Crown Heights, Brooklyn Heights, and Sheepshead Bay showing strong sales — demonstrates broad-based strength rather than isolated surges. Dweck sees this as a healthy sign of balance across different price ranges and property types.
Manhattan and Queens: Consistent and Competitive
While Brooklyn has dominated the headlines, Dweck notes that the momentum is not limited to one borough. Manhattan neighborhoods like Greenwich Village and parts of Lower Manhattan have seen homes sell for up to 25% above list price — a testament to enduring demand for classic city living.
Queens, too, continues to perform steadily, with areas like Forest Hills attracting buyers looking for charm, accessibility, and long-term value. “What we’re seeing is that every borough has its moment — and right now, the whole city is moving with purpose,” Dweck observes.
A Healthier, More Confident Market
From an investment perspective, Dweck views this fall market as one of the most balanced in recent memory. Moderate mortgage rate adjustments and increased buyer participation have created a market that rewards both caution and creativity. “The best markets are those where both buyers and sellers feel confident — and that’s what we’re seeing across New York right now,” he explains.
Duke Properties continues to focus on value-oriented investments and neighborhood growth, ensuring that each project contributes not only to returns but also to community well-being. “Real estate is never just about numbers,” Dweck emphasizes. “It’s about creating spaces people truly want to be part of.”
Looking Ahead: Strength Through Vision
With more than 1,700 homes entering contract citywide — the highest September total in four years — Dweck believes the city’s trajectory is firmly positive. “New York real estate has always had cycles,” he notes. “What matters is the direction of confidence — and right now, that confidence is rising.”
As Duke Properties looks to the final quarter of 2025 and beyond, Dweck’s focus remains clear: identifying opportunity through experience, stability, and a deep understanding of what drives people to live and invest in New York.
“Every neighborhood tells a story of growth and resilience,” says Dweck. “From the brownstones of Brooklyn to the skylines of Manhattan, New York continues to remind us why it remains one of the most dynamic real estate markets in the world.”