Brooklyn Summer Real Estate Market 2025: What’s Hot, What’s Not and What’s Next

By Elizabeth Kohen | July 24, 2025

The Brooklyn market is settling into its usual midsummer lull—but this year, we’re also navigating two major developments that could reshape the real estate landscape for buyers, sellers, landlords and renters alike:

The FARE Act (effective June 11) has shifted who pays broker fees in NYC rentals
Private exclusive listing practices are quietly tightening buyer access—and putting pressure on sellers, too

Here’s what it all means, and how to move strategically through the rest of the summer.

The FARE Act Has Changed the Rental Market

As of June 11, 2025, the Fairness in Apartment Rental Expenses (FARE) Act is in full effect across NYC. For landlords, this means that you’re now on the hook for broker fees and, therefore, pricing, tenant screening and listing clarity matter more than ever. For renters, this means your upfront costs are lower but do watch for disguised fees like “admin” or “processing” charges.

FARE Act Highlights:

Brokers who represent landlords can no longer charge tenants a fee. The party who hires the broker (typically the landlord) must pay
Landlords must disclose all rental fees—upfront and recurring—in both listings and lease agreements
Tenants who hire a broker directly (to help with their search) are still responsible for that broker’s fee
Violations can result in fines up to $2,000, and landlords can be held liable

Are Rents Rising Because of the FARE Act?

Yes, but only modestly, and not solely because of the law.

Some landlords are quietly raising rents to offset the cost. On a $3,000 apartment, that could mean $100–$200 more per month to recoup a typical broker fee. However, these increases aren’t uniform. Tenants are pushing back, especially for dated or overpriced units.

October Hikes Approved for Rent-Stabilized Units

In June 2025, the NYC Rent Guidelines Board voted to allow 2.75% increases on 1-year lease renewals and 5.25% increases on 2-year lease renewals. These take effect in October and impact around 44% of NYC rental units, including many in Brooklyn.

Private Exclusive Listings—And Why We Abandoned That Model 20 Years Ago

Private exclusive listings are on the rise in NYC. These types of off-market listings are visible only to specific real estate firms and their agents and clients. These listings don’t appear on StreetEasy, Zillow or the Real Estate Board of New York (REBNY) Residential Listing Service (RLS).

They’re only visible if:

You’re working with an agent at a firm who promotes the in-network listing
The agent you’re working with is directly connected to those agents who share listings privately
Or if your agent manually checks another brokerage’s internal platform

We know this model. We used it over 20 years ago, but we left it behind because it didn’t serve our clients.

Holding listings “in-house” limited exposure, reduced competition and suppressed pricing. Since moving to a fully open-market model, we’ve seen better results across the board.

Follow the Incentives

Private listings are often marketed as “strategic,” but in reality, they limit exposure, which usually means less money for sellers. Buyers have more trouble finding these listings since many properties are hidden from public portals. And they create confusion and frustration by fragmenting the market and reducing transparency.

These practices prioritize corporate control over client interests, ultimately undermining trust in the market.

Why We Stand for Transparency

We believe that listings should be visible to all qualified buyers, agents should work across firms rather than in silos, and transparency builds trust and delivers better outcomes.

We’ve spent the past two decades committed to collaboration, visibility and results.

Buyers: Summer Can Still Work in Your Favor

Yes, mortgage rates remain elevated, hovering in the high 6% to low 7% range, but summer still offers opportunity, if you know where to look.

Summer Market Trends We’re Seeing in Brooklyn:

Less competition, but fewer A+ listings
Sellers with stale listings are more negotiable
Some properties appear only on brokerage sites or off-market networks

When looking for a home, ask your agent how they ensure you’re seeing every available property—not just those tied to one brokerage or platform.

Sellers: Start Planning Now for a Strong Fall Debut

Fall is traditionally Brooklyn’s busy season. Sellers who prep now will be well-positioned when open house traffic and offer activity picks back up after Labor Day. But visibility is everything.

Keep in mind that listings that aren’t syndicated widely may miss entire buyer segments and that the rise of exclusive listings has made platform strategy critical.

Work with a real estate agent who ensures your home is listed on StreetEasy, Zillow, the RLS, social media, through direct outreach and internal agent networks.

Landlords: Navigating the FARE Act and Renter Fatigue

You’re now covering broker fees and marketing to a selective summer audience.

What’s Working:

Updated units with A/C, laundry and private outdoor space
Clear, compliant listings with transparent terms
Responsive communication and clean application processes

If you’re not getting bites now, consider relaunching in September when more renters return to market.

Renters: Lower Fees, But Don’t Get Too Comfortable

The FARE Act is a win, but competition is still strong in many categories—especially 2-bedrooms and renovated walkups near transit.

Some landlords are raising rents to cover broker costs. Rent-stabilized units remain capped, but market-rate pricing is unpredictable. And strong listings are still going quickly.

If you’re renting in Brooklyn this summer, get prequalified, clarify fee responsibility before applying and move quickly when you find the right place.

What to Expect This Fall

Sales listings will rise post Labor Day and buyers will return—though affordability remains a challenge. Rental demand will tighten, especially in transit-rich areas. Platform visibility will continue to shape the market, and transparency and full access will matter more than ever.

If you’re thinking about making a move or just want to understand how these changes impact your goals, we’re always happy to talk strategy.

Wishing you a restful, well-informed summer.

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