Is Brooklyn, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Brooklyn was a Seller's Market.
Key Takeaway
Brooklyn is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Brooklyn, MD
How much do homes in Brooklyn, MD cost?
Median Sold Price
$157,500
$119/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Brooklyn have sold for 15.4% more than they did a year ago.
Summary: The median home sold price in Brooklyn was $157,500 in April 2024, up 15.4% from last year, and the median price per square foot was $119.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $79.8K | $92.7K | +16.2% |
| 3 Bedrooms | $140K | $162.5K | +16.1% |
| 4 Bedrooms | $185K | $225K | +21.6% |
| 5+ Bedrooms | $381.5K | $260K | -31.8% |
Summary: Brooklyn housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 16.2%, 3 bedroom homes increased by 16.1%, 4 bedroom homes increased by 21.6%, and 5+ bedroom homes decreased by 31.8%.
Housing Supply in Brooklyn, MD
How many homes are available in Brooklyn, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 45 | 53 | +17.8% |
Summary: The Brooklyn real estate market had 53 homes for sale in April 2024, a 17.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 10 | 11 | +10.0% |
| 3 Bedrooms | 22 | 26 | +18.2% |
| 4 Bedrooms | 10 | 13 | +30.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Brooklyn housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 18.2%, 4 bedroom homes increased by 30%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 10 | 8 | -20.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Brooklyn, you may be able to get a good deal. 37.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Brooklyn in April 2024, down by 20.0% month-over-month. Of the 8 sold homes, 38% were sold under asking, 38% were sold at asking, and 25% were sold over asking.
Days on Market for Brooklyn, MD
How long does it take to sell a home in Brooklyn, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 47 Days | 31 Days | -33.9% |
Summary: Homes in Brooklyn had an average of 31 days on market in Apr 2024, down by 33.9% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Brooklyn are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 8 homes were sold in Brooklyn; 63% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
