$4,200,000
7 Beds
•2 Full Baths, 3 Partial
#RPLU-850723286785, Helen Vanrhyn, Listing Office: Brown Harris Stevens Brooklyn LLC
Is South 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, South Brooklyn has remained a Buyer's Market.
Key Takeaway
South Brooklyn is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in South Brooklyn, NY
How much do homes in South Brooklyn, NY cost?
Median Sold Price
$1,624,404
$1,231/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$6,071(+0.4%)
Key Takeaway
The sold price of homes in South Brooklyn has remained the same since last year.
Summary: The median home sold price in South Brooklyn was $1,624,404 in November 2024, up 0.4% from last year, and the median price per square foot was $1,231.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $740K | $732.5K | -1.0% |
| 2 Bedrooms | $1.3M | $1.3M | -1.4% |
| 3 Bedrooms | $2.1M | $2.0M | -6.6% |
| 4 Bedrooms | $2.9M | $2.9M | -0.2% |
| 5+ Bedrooms | $3.5M | $3.5M | -2.4% |
Summary: South Brooklyn housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1%, 2 bedroom homes decreased by 1.4%, 3 bedroom homes decreased by 6.6%, 4 bedroom homes decreased by 0.2%, and 5+ bedroom homes decreased by 2.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Carroll Gardens | $1.9M | $2.1M | +12.0% |
| Gowanus | $1.9M | $2.0M | +0.7% |
| South Brooklyn | $1.6M | $1.6M | 0.4% |
| South Slope | $1.6M | $1.5M | -5.8% |
| Greenwood Heights | $1.6M | $1.2M | -24.3% |
Housing Supply in South Brooklyn, NY
How many homes are available in South Brooklyn, NY?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 524 | 407 | -22.3% |
Summary: The South Brooklyn real estate market had 407 homes for sale in November 2024, a 22.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 82 | 66 | -19.5% |
| 2 Bedrooms | 151 | 105 | -30.5% |
| 3 Bedrooms | 125 | 95 | -24.0% |
| 4 Bedrooms | 67 | 54 | -19.4% |
| 5+ Bedrooms | 99 | 87 | -12.1% |
Summary: The South Brooklyn housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 19.5%, 2 bedroom homes decreased by 30.5%, 3 bedroom homes decreased by 24%, 4 bedroom homes decreased by 19.4%, and 5+ bedroom homes decreased by 12.1%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 60 | 44 | -26.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
39 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in South Brooklyn, expect to pay close to the asking price. 88.6% of homes here sold near the asking price last month.
Summary: A total of 44 homes were sold or pending in South Brooklyn in November 2024, down by 26.7% month-over-month. Of the 44 sold homes, 9% were sold under asking, 89% were sold at asking, and 2% were sold over asking.
Days on Market for South Brooklyn, NY
How long does it take to sell a home in South Brooklyn, NY?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 97 Days | 75 Days | -22.4% |
Summary: Homes in South Brooklyn had an average of 75 days on market in Nov 2024, down by 22.4% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Brooklyn are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 44 homes were sold in South Brooklyn; 5% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
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