$6,000,000
6,000 SqFt
9 Beds
•6 Full Baths, 2 Partial
#RPLU-850723289897, Brian Lehner, Listing Office: Brown Harris Stevens Brooklyn LLC
Is Brooklyn, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$979,913
$701/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$29,297(+3.1%)
Key Takeaway
Homes in Brooklyn have sold for 3.1% more than they did a year ago.
Summary: The median home sold price in Brooklyn was $979,913 in November 2024, up 3.1% from last year, and the median price per square foot was $701.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $572.5K | $556.1K | -2.9% |
| 2 Bedrooms | $913K | $938.9K | +2.8% |
| 3 Bedrooms | $949.3K | $983.4K | +3.6% |
| 4 Bedrooms | $1.2M | $1.2M | +1.1% |
| 5+ Bedrooms | $1.4M | $1.4M | +2.8% |
Summary: Brooklyn housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.9%, 2 bedroom homes increased by 2.8%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 1.1%, and 5+ bedroom homes increased by 2.8%.
Housing Supply in Brooklyn, NY
How many homes are available in Brooklyn, NY?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 4,624 | 4,137 | -10.5% |
Summary: The Brooklyn real estate market had 4,137 homes for sale in November 2024, a 10.5% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 849 | 735 | -13.4% |
| 2 Bedrooms | 1,065 | 900 | -15.5% |
| 3 Bedrooms | 914 | 815 | -10.8% |
| 4 Bedrooms | 441 | 404 | -8.4% |
| 5+ Bedrooms | 1,355 | 1,283 | -5.3% |
Summary: The Brooklyn housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 13.4%, 2 bedroom homes decreased by 15.5%, 3 bedroom homes decreased by 10.8%, 4 bedroom homes decreased by 8.4%, and 5+ bedroom homes decreased by 5.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 466 | 385 | -17.4% |
Asking Price vs. Sold Price
161 Homes Were Sold
Under Asking
196 Homes Were Sold
At Asking
28 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Brooklyn, expect to pay close to the asking price. 50.9% of homes here sold near the asking price last month.
Summary: A total of 385 homes were sold or pending in Brooklyn in November 2024, down by 17.4% month-over-month. Of the 385 sold homes, 42% were sold under asking, 51% were sold at asking, and 7% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 104 Days | 111 Days | +6.9% |
Summary: Homes in Brooklyn had an average of 111 days on market in Nov 2024, up by 6.9% compared to last year.
Breakdown of Home Sale Times
43 Homes Were Sold
Under 30 Days
68 Homes Were Sold
In 30 - 90 Days
90 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Brooklyn are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 385 homes were sold in Brooklyn; 11% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 23% 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. 
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