Is South 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, South Brooklyn has remained a Buyer's Market.
Housing Prices in South Brooklyn, NY
How much do homes in South Brooklyn, NY cost?
Median Sold Price
$1,627,000
$1,241/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in South Brooklyn was $1,627,000 in April 2024, up 1.7% from last year, and the median price per square foot was $1,241.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $735K | $729K | -0.8% |
2 Bedrooms | $1.3M | $1.3M | +0.7% |
3 Bedrooms | $2.2M | $1.9M | -9.2% |
4 Bedrooms | $3.1M | $3.0M | -2.3% |
5+ Bedrooms | $3.6M | $3.7M | +3.6% |
Summary: South Brooklyn housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.8%, 2 bedroom homes increased by 0.7%, 3 bedroom homes decreased by 9.2%, 4 bedroom homes decreased by 2.3%, and 5+ bedroom homes increased by 3.6%.
Median Sold Price Compared To Nearby Neighborhoods
Greenwood Heights | $1.2M | $1.6M | +29.7% |
South Slope | $1.4M | $1.6M | +15.0% |
South Brooklyn | $1.5M | $1.6M | +1.7% |
Carroll Gardens | $1.9M | $1.9M | -3.1% |
Gowanus | $2.2M | $1.9M | -11.1% |
Housing Supply in South Brooklyn, NY
How many homes are available in South Brooklyn, NY?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
493 | 496 | +0.6% |
Summary: The South Brooklyn real estate market had 496 homes for sale in April 2024, a 0.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 81 | 72 | -11.1% |
2 Bedrooms | 145 | 157 | +8.3% |
3 Bedrooms | 110 | 110 | 0.0% |
4 Bedrooms | 53 | 55 | +3.8% |
5+ Bedrooms | 104 | 102 | -1.9% |
Summary: The South Brooklyn housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 11.1%, 2 bedroom homes increased by 8.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes decreased by 1.9%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
35 | 49 | +40.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
41 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 49 homes were sold or pending in South Brooklyn in April 2024, up by 40.0% month-over-month. Of the 49 sold homes, 14% were sold under asking, 84% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
116 Days | 135 Days | +16.5% |
Summary: Homes in South Brooklyn had an average of 135 days on market in Apr 2024, up by 16.5% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 49 homes were sold in South Brooklyn; 0% of homes were sold within 30 days, 2% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.