$10,000 Closing Credit*
$975,000
1,152 SqFt
3 Beds
•1 Full Bath, 1 Partial
#487453, Listing Office: RE/MAX Edge
Is Brooklyn, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Brooklyn has remained a Buyer's Market.
Key Takeaway
Brooklyn is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Brooklyn, NY
How much do homes in Brooklyn, NY cost?
Median Sold Price
$984,431
$696/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$31,534(+3.3%)
Key Takeaway
Homes in Brooklyn have sold for 3.3% more than they did a year ago.
Summary: The median home sold price in Brooklyn was $984,431 in October 2024, up 3.3% from last year, and the median price per square foot was $696.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $579K | $551.7K | -4.7% |
| 2 Bedrooms | $914.5K | $946.6K | +3.5% |
| 3 Bedrooms | $950.6K | $995K | +4.7% |
| 4 Bedrooms | $1.2M | $1.2M | -3.2% |
| 5+ Bedrooms | $1.4M | $1.4M | +2.2% |
Summary: Brooklyn housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.7%, 2 bedroom homes increased by 3.5%, 3 bedroom homes increased by 4.7%, 4 bedroom homes decreased by 3.2%, and 5+ bedroom homes increased by 2.2%.
Housing Supply in Brooklyn, NY
How many homes are available in Brooklyn, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4,687 | 4,691 | 0.1% |
Summary: The Brooklyn real estate market had 4,691 homes for sale in October 2024, a 0.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 889 | 820 | -7.8% |
| 2 Bedrooms | 1,053 | 1,039 | -1.3% |
| 3 Bedrooms | 937 | 929 | -0.9% |
| 4 Bedrooms | 445 | 446 | 0.2% |
| 5+ Bedrooms | 1,363 | 1,457 | +6.9% |
Summary: The Brooklyn housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 7.8%, 2 bedroom homes decreased by 1.3%, 3 bedroom homes decreased by 0.9%, 4 bedroom homes increased by 0.2%, and 5+ bedroom homes increased by 6.9%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 448 | 436 | -2.7% |
Asking Price vs. Sold Price
169 Homes Were Sold
Under Asking
217 Homes Were Sold
At Asking
50 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Brooklyn, expect to pay close to the asking price. 49.8% of homes here sold near the asking price last month.
Summary: A total of 436 homes were sold or pending in Brooklyn in October 2024, down by 2.7% month-over-month. Of the 436 sold homes, 39% were sold under asking, 50% were sold at asking, and 11% were sold over asking.
Days on Market for Brooklyn, NY
How long does it take to sell a home in Brooklyn, NY?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 117 Days | 97 Days | -17.2% |
Summary: Homes in Brooklyn had an average of 97 days on market in Oct 2024, down by 17.2% compared to last year.
Breakdown of Home Sale Times
56 Homes Were Sold
Under 30 Days
93 Homes Were Sold
In 30 - 90 Days
78 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Brooklyn has remained consistent over time.
Summary: During October 2024, 436 homes were sold in Brooklyn; 13% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
Information being provided by Brooklyn Multiple Listing Service is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. 
©2024 The Real Estate Board of New York, Inc., All rights reserved. Website powered by IHR Technology Services. 
Listings courtesy of OneKey MLS as distributed by MLS GRID.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 
Disclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Rocket Homes Real Estate, LLC are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.