$2,699,900
6 Beds
•3 Full Baths
Listing Office: RE/MAX City Square
Is Northwestern Brooklyn, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Northwestern Brooklyn was a Neutral Market.
Key Takeaway
Northwestern Brooklyn is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Northwestern Brooklyn, NY
How much do homes in Northwestern Brooklyn, NY cost?
Median Sold Price
$1,465,000
$1,299/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$15,000(+1.0%)
Key Takeaway
Homes in Northwestern Brooklyn have sold for 1% more than they did a year ago.
Summary: The median home sold price in Northwestern Brooklyn was $1,465,000 in November 2024, up 1% from last year, and the median price per square foot was $1,299.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $785K | $799K | +1.8% |
| 2 Bedrooms | $1.4M | $1.4M | 0.2% |
| 3 Bedrooms | $2.4M | $2.4M | +4.0% |
| 4 Bedrooms | $4.3M | $3.9M | -8.7% |
| 5+ Bedrooms | $4.1M | $4.6M | +12.1% |
Summary: Northwestern Brooklyn housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.8%, 2 bedroom homes increased by 0.2%, 3 bedroom homes increased by 4%, 4 bedroom homes decreased by 8.7%, and 5+ bedroom homes increased by 12.1%.
Median Sold Price Compared To Nearby Neighborhoods
| Fort Greene | $1.4M | $1.6M | +14.0% |
| Downtown Brooklyn | $1.3M | $1.4M | +10.8% |
| Northwestern Brooklyn | $1.4M | $1.4M | +1.0% |
Housing Supply in Northwestern Brooklyn, NY
How many homes are available in Northwestern Brooklyn, NY?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 443 | 348 | -21.4% |
Summary: The Northwestern Brooklyn real estate market had 348 homes for sale in November 2024, a 21.4% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 135 | 104 | -23.0% |
| 2 Bedrooms | 158 | 122 | -22.8% |
| 3 Bedrooms | 69 | 53 | -23.2% |
| 4 Bedrooms | 27 | 24 | -11.1% |
| 5+ Bedrooms | 54 | 45 | -16.7% |
Summary: The Northwestern Brooklyn housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 23%, 2 bedroom homes decreased by 22.8%, 3 bedroom homes decreased by 23.2%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 58 | 48 | -17.2% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
46 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Northwestern Brooklyn, expect to pay close to the asking price. 95.8% of homes here sold near the asking price last month.
Summary: A total of 48 homes were sold or pending in Northwestern Brooklyn in November 2024, down by 17.2% month-over-month. Of the 48 sold homes, 4% were sold under asking, 96% were sold at asking, and 0% were sold over asking.
Days on Market for Northwestern Brooklyn, NY
How long does it take to sell a home in Northwestern Brooklyn, NY?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 88 Days | 39 Days | -55.7% |
Summary: Homes in Northwestern Brooklyn had an average of 39 days on market in Nov 2024, down by 55.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Northwestern Brooklyn are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 48 homes were sold in Northwestern Brooklyn; 2% of homes were sold within 30 days, 2% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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