$10,000 Closing Credit*
$1,050,000
Listing Office: eXp Realty
Is Northern 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, Northern Brooklyn has remained a Buyer's Market.
Key Takeaway
Northern Brooklyn is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Northern Brooklyn, NY
How much do homes in Northern Brooklyn, NY cost?
Median Sold Price
$1,350,000
$1,275/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$106,122(+8.5%)
Key Takeaway
Homes in Northern Brooklyn have sold for 8.5% more than they did a year ago.
Summary: The median home sold price in Northern Brooklyn was $1,350,000 in October 2024, up 8.5% from last year, and the median price per square foot was $1,275.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $915K | $950K | +3.8% |
| 2 Bedrooms | $1.4M | $1.4M | -3.1% |
| 3 Bedrooms | $2.2M | $1.9M | -11.4% |
| 4 Bedrooms | $1.8M | $2.4M | +29.0% |
| 5+ Bedrooms | $1.4M | $1.7M | +17.1% |
Summary: Northern Brooklyn housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.8%, 2 bedroom homes decreased by 3.1%, 3 bedroom homes decreased by 11.4%, 4 bedroom homes increased by 29%, and 5+ bedroom homes increased by 17.1%.
Median Sold Price Compared To Nearby Neighborhoods
| Greenpoint | $1.3M | $1.6M | +22.6% |
| Northern Brooklyn | $1.2M | $1.3M | +8.5% |
| Williamsburg | $1.4M | $1.5M | +8.3% |
Housing Supply in Northern Brooklyn, NY
How many homes are available in Northern Brooklyn, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 442 | 452 | +2.3% |
Summary: The Northern Brooklyn real estate market had 452 homes for sale in October 2024, a 2.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 114 | 107 | -6.1% |
| 2 Bedrooms | 106 | 109 | +2.8% |
| 3 Bedrooms | 64 | 66 | +3.1% |
| 4 Bedrooms | 21 | 21 | 0.0% |
| 5+ Bedrooms | 137 | 149 | +8.8% |
Summary: The Northern Brooklyn housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 6.1%, 2 bedroom homes increased by 2.8%, 3 bedroom homes increased by 3.1%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 8.8%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 42 | 44 | +4.8% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
34 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Northern Brooklyn, expect to pay close to the asking price. 77.3% of homes here sold near the asking price last month.
Summary: A total of 44 homes were sold or pending in Northern Brooklyn in October 2024, up by 4.8% month-over-month. Of the 44 sold homes, 18% were sold under asking, 77% were sold at asking, and 5% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 138 Days | 79 Days | -42.9% |
Summary: Homes in Northern Brooklyn had an average of 79 days on market in Oct 2024, down by 42.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Northern Brooklyn has remained consistent over time.
Summary: During October 2024, 44 homes were sold in Northern Brooklyn; 2% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
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