$6,250,000
4,538 SqFt
4 Beds
•4 Full Baths, 1 Partial
#RPLU-5123266199, Zia Ohara, Listing Office: Douglas Elliman Real Estate
Is Northwestern 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, Northwestern Brooklyn has remained a Buyer's 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
$1,433,500
$1,308/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$21,500(-1.5%)
Key Takeaway
Homes in Northwestern Brooklyn have sold for 1.5% less than they did a year ago.
Summary: The median home sold price in Northwestern Brooklyn was $1,433,500 in October 2024, down 1.5% from last year, and the median price per square foot was $1,308.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $798.3K | $812.5K | +1.8% |
| 2 Bedrooms | $1.4M | $1.3M | -3.7% |
| 3 Bedrooms | $2.3M | $2.4M | +4.2% |
| 4 Bedrooms | $4.3M | $4.0M | -6.9% |
| 5+ Bedrooms | $4.1M | $4.6M | +13.8% |
Summary: Northwestern Brooklyn housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.8%, 2 bedroom homes decreased by 3.7%, 3 bedroom homes increased by 4.2%, 4 bedroom homes decreased by 6.9%, and 5+ bedroom homes increased by 13.8%.
Median Sold Price Compared To Nearby Neighborhoods
| Fort Greene | $1.3M | $1.5M | +15.6% |
| Downtown Brooklyn | $1.3M | $1.4M | +11.0% |
| Northwestern Brooklyn | $1.4M | $1.4M | -1.5% |
Housing Supply in Northwestern Brooklyn, NY
How many homes are available in Northwestern Brooklyn, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 424 | 419 | -1.2% |
Summary: The Northwestern Brooklyn real estate market had 419 homes for sale in October 2024, a 1.2% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 136 | 126 | -7.4% |
| 2 Bedrooms | 140 | 144 | +2.9% |
| 3 Bedrooms | 67 | 69 | +3.0% |
| 4 Bedrooms | 24 | 21 | -12.5% |
| 5+ Bedrooms | 57 | 59 | +3.5% |
Summary: The Northwestern Brooklyn housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 7.4%, 2 bedroom homes increased by 2.9%, 3 bedroom homes increased by 3%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes increased by 3.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 36 | 54 | +50.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
49 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Northwestern Brooklyn, expect to pay close to the asking price. 90.7% of homes here sold near the asking price last month.
Summary: A total of 54 homes were sold or pending in Northwestern Brooklyn in October 2024, up by 50.0% month-over-month. Of the 54 sold homes, 6% were sold under asking, 91% were sold at asking, and 4% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 276 Days | 80 Days | -70.9% |
Summary: Homes in Northwestern Brooklyn had an average of 80 days on market in Oct 2024, down by 70.9% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Northwestern Brooklyn has remained consistent over time.
Summary: During October 2024, 54 homes were sold in Northwestern Brooklyn; 0% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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