Is Southeastern Brooklyn, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Southeastern Brooklyn was a Neutral Market.
Housing Prices in Southeastern Brooklyn, NY
How much do homes in Southeastern Brooklyn, NY cost?
Median Sold Price
$750,000
$495/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Southeastern Brooklyn was $750,000 in May 2024, down 1.3% from last year, and the median price per square foot was $495.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $225K | $207.5K | -7.8% |
2 Bedrooms | $520K | $550K | +5.8% |
3 Bedrooms | $749K | $731.1K | -2.4% |
4 Bedrooms | $850K | $875K | +2.9% |
5+ Bedrooms | $1.1M | $1.0M | -0.9% |
Summary: Southeastern Brooklyn housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.8%, 2 bedroom homes increased by 5.8%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes decreased by 0.9%.
Median Sold Price Compared To Nearby Neighborhoods
Southeastern Brooklyn | $759.5K | $750K | -1.3% |
Flatlands | $692.5K | $680K | -1.8% |
Mill Basin | $850K | $817.5K | -3.8% |
Bergen Beach | $900K | $845K | -6.1% |
Georgetown | $842.5K | $778K | -7.7% |
Housing Supply in Southeastern Brooklyn, NY
How many homes are available in Southeastern Brooklyn, NY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
286 | 301 | +5.2% |
Summary: The Southeastern Brooklyn real estate market had 301 homes for sale in May 2024, a 5.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 15 | 15 | 0.0% |
2 Bedrooms | 41 | 49 | +19.5% |
3 Bedrooms | 130 | 126 | -3.1% |
4 Bedrooms | 40 | 42 | +5.0% |
5+ Bedrooms | 60 | 69 | +15.0% |
Summary: The Southeastern Brooklyn housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 19.5%, 3 bedroom homes decreased by 3.1%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 15%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
24 | 35 | +45.8% |
Asking Price vs. Sold Price
28 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 35 homes were sold or pending in Southeastern Brooklyn in May 2024, up by 45.8% month-over-month. Of the 35 sold homes, 80% were sold under asking, 11% were sold at asking, and 9% were sold over asking.
Days on Market for Southeastern Brooklyn, NY
How long does it take to sell a home in Southeastern Brooklyn, NY?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
96 Days | 84 Days | -12.6% |
Summary: Homes in Southeastern Brooklyn had an average of 84 days on market in May 2024, down by 12.6% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
13 Homes Were Sold
Over 90 Days
Summary: During May 2024, 35 homes were sold in Southeastern Brooklyn; 26% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 37% of homes were sold over 90 days.