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.
Key Takeaway
Southeastern Brooklyn is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
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
Key Takeaway
Homes in Southeastern Brooklyn have sold for 1.3% less than they did a year ago.
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
Key Takeaway
If you're buying a home in Southeastern Brooklyn, you may be able to get a good deal. 80% of homes here sold below asking price last month.
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
Key Takeaway
Most homes in Southeastern Brooklyn are taking a long time to sell, it's a good idea to negotiate on homes here.
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.
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