Is Northern Brooklyn, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Northern Brooklyn has remained a Buyer's Market.
Housing Prices in Northern Brooklyn, NY
How much do homes in Northern Brooklyn, NY cost?
Median Sold Price
$1,250,178
$1,254/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Northern Brooklyn was $1,250,178 in May 2024, down 0.7% from last year, and the median price per square foot was $1,254.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $860K | $955K | +11.0% |
2 Bedrooms | $1.4M | $1.4M | 0.2% |
3 Bedrooms | $2.0M | $2.0M | 0.0% |
4 Bedrooms | $1.8M | $2.1M | +15.1% |
5+ Bedrooms | $1.7M | $1.7M | +5.9% |
Summary: Northern Brooklyn housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11%, 2 bedroom homes increased by 0.2%, 3 bedroom homes did not change, 4 bedroom homes increased by 15.1%, and 5+ bedroom homes increased by 5.9%.
Median Sold Price Compared To Nearby Neighborhoods
Greenpoint | $1.4M | $1.5M | +11.4% |
Bedford | $1.3M | $1.4M | +10.4% |
Williamsburg | $1.4M | $1.4M | +4.4% |
Northern Brooklyn | $1.2M | $1.2M | -0.7% |
East Williamsburg | $1.2M | $1.2M | -1.2% |
Housing Supply in Northern Brooklyn, NY
How many homes are available in Northern Brooklyn, NY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
500 | 470 | -6.0% |
Summary: The Northern Brooklyn real estate market had 470 homes for sale in May 2024, a 6.0% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 120 | 108 | -10.0% |
2 Bedrooms | 138 | 122 | -11.6% |
3 Bedrooms | 74 | 67 | -9.5% |
4 Bedrooms | 32 | 30 | -6.3% |
5+ Bedrooms | 136 | 143 | +5.1% |
Summary: The Northern Brooklyn housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 10%, 2 bedroom homes decreased by 11.6%, 3 bedroom homes decreased by 9.5%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes increased by 5.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
59 | 67 | +13.6% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
57 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 67 homes were sold or pending in Northern Brooklyn in May 2024, up by 13.6% month-over-month. Of the 67 sold homes, 13% were sold under asking, 85% were sold at asking, and 1% were sold over asking.
Days on Market for Northern Brooklyn, NY
How long does it take to sell a home in Northern Brooklyn, NY?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
102 Days | 75 Days | -26.0% |
Summary: Homes in Northern Brooklyn had an average of 75 days on market in May 2024, down by 26% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 67 homes were sold in Northern Brooklyn; 1% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.