$10,000 Closing Credit*
$1,100,000
858 SqFt
2 Beds
•2 Full Baths
#RPLU-1032523291986, LESLIE DIXON, Listing Office: Serhant
Is Southern 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, Southern Brooklyn has remained a Buyer's Market.
Key Takeaway
Southern Brooklyn is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Southern Brooklyn, NY
How much do homes in Southern Brooklyn, NY cost?
Median Sold Price
$604,250
$478/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$17,416(+3.0%)
Key Takeaway
Homes in Southern Brooklyn have sold for 3% more than they did a year ago.
Summary: The median home sold price in Southern Brooklyn was $604,250 in November 2024, up 3% from last year, and the median price per square foot was $478.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $284K | $289K | +1.8% |
| 2 Bedrooms | $419.5K | $450K | +7.3% |
| 3 Bedrooms | $825K | $839K | +1.7% |
| 4 Bedrooms | $960K | $980K | +2.1% |
| 5+ Bedrooms | $1.2M | $1.3M | +8.4% |
Summary: Southern 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 7.3%, 3 bedroom homes increased by 1.7%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes increased by 8.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Homecrest | $450K | $690K | +53.3% |
| Sheepshead Bay | $345K | $440K | +27.5% |
| Manhattan Beach | $1.2M | $1.4M | +20.4% |
| Brighton Beach | $525K | $615K | +17.1% |
| Southern Brooklyn | $586.8K | $604.2K | +3.0% |
Housing Supply in Southern Brooklyn, NY
How many homes are available in Southern Brooklyn, NY?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 973 | 901 | -7.4% |
Summary: The Southern Brooklyn real estate market had 901 homes for sale in November 2024, a 7.4% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 199 | 182 | -8.5% |
| 2 Bedrooms | 286 | 260 | -9.1% |
| 3 Bedrooms | 238 | 223 | -6.3% |
| 4 Bedrooms | 70 | 61 | -12.9% |
| 5+ Bedrooms | 180 | 175 | -2.8% |
Summary: The Southern Brooklyn housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 8.5%, 2 bedroom homes decreased by 9.1%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes decreased by 12.9%, and 5+ bedroom homes decreased by 2.8%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 88 | 71 | -19.3% |
Asking Price vs. Sold Price
58 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southern Brooklyn, you may be able to get a good deal. 81.7% of homes here sold below asking price last month.
Summary: A total of 71 homes were sold or pending in Southern Brooklyn in November 2024, down by 19.3% month-over-month. Of the 71 sold homes, 82% were sold under asking, 14% were sold at asking, and 4% were sold over asking.
Days on Market for Southern Brooklyn, NY
How long does it take to sell a home in Southern Brooklyn, NY?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 117 Days | 135 Days | +15.8% |
Summary: Homes in Southern Brooklyn had an average of 135 days on market in Nov 2024, up by 15.8% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
20 Homes Were Sold
In 30 - 90 Days
36 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Southern Brooklyn are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 71 homes were sold in Southern Brooklyn; 13% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 51% of homes were sold over 90 days.
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