Is Northern Brooklyn, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Northern Brooklyn has remained a Buyer's Market.
Housing Prices in Northern Brooklyn, NY
How much do homes in Northern Brooklyn, NY cost?
Median Sold Price
$1,235,238
$1,244/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Northern Brooklyn was $1,235,238 in April 2024, down 2.8% from last year, and the median price per square foot was $1,244.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $850K | $970K | +14.1% |
2 Bedrooms | $1.4M | $1.3M | -4.1% |
3 Bedrooms | $2.1M | $2.0M | -2.1% |
4 Bedrooms | $1.9M | $1.8M | -0.1% |
5+ Bedrooms | $1.6M | $1.7M | +1.6% |
Summary: Northern Brooklyn housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.1%, 2 bedroom homes decreased by 4.1%, 3 bedroom homes decreased by 2.1%, 4 bedroom homes decreased by 0.1%, and 5+ bedroom homes increased by 1.6%.
Median Sold Price Compared To Nearby Neighborhoods
Greenpoint | $1.4M | $1.5M | +10.5% |
Williamsburg | $1.4M | $1.4M | +3.3% |
Northern Brooklyn | $1.2M | $1.2M | -2.8% |
East Williamsburg | $1.2M | $1.1M | -7.1% |
Housing Supply in Northern Brooklyn, NY
How many homes are available in Northern Brooklyn, NY?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
451 | 447 | -0.9% |
Summary: The Northern Brooklyn real estate market had 447 homes for sale in April 2024, a 0.9% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 102 | 98 | -3.9% |
2 Bedrooms | 126 | 125 | -0.8% |
3 Bedrooms | 62 | 62 | 0.0% |
4 Bedrooms | 28 | 27 | -3.6% |
5+ Bedrooms | 133 | 135 | +1.5% |
Summary: The Northern Brooklyn housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 3.9%, 2 bedroom homes decreased by 0.8%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 3.6%, and 5+ bedroom homes increased by 1.5%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
41 | 59 | +43.9% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
49 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 59 homes were sold or pending in Northern Brooklyn in April 2024, up by 43.9% month-over-month. Of the 59 sold homes, 14% were sold under asking, 83% were sold at asking, and 3% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
144 Days | 74 Days | -48.3% |
Summary: Homes in Northern Brooklyn had an average of 74 days on market in Apr 2024, down by 48.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 59 homes were sold in Northern Brooklyn; 2% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.