Is Brooklyn, NY a buyer’s or seller’s market?

Housing Market Conditions



Gauge showing Brooklyn is a buyer's market


Difference Since November 2022

Since last year, Brooklyn has remained a Buyer's Market.

Key Takeaway

Brooklyn is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Brooklyn, NY

How much do homes in Brooklyn, NY cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since November 2022


Key Takeaway

The sold price of homes in Brooklyn has remained the same since last year.

Summary: The median home sold price in Brooklyn was $949,607 in November 2023, down 0.1% from last year, and the median price per square foot was $670.

Median Sold Price By Bedroom Count

# BEDSNov 2022Nov 2023CHANGE
1 $577.3K$573.6K
2 $926K$905.8K
3 $935K$940.5K
4 $1.2M$1.2M
5+ $1.4M$1.4M

Summary: Brooklyn housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 0.6%, 2 bedroom homes decreased by 2.2%, 3 bedroom homes increased by 0.6%, 4 bedroom homes decreased by 1.8%, and 5+ bedroom homes decreased by 5.2%.

Median Sold Price Compared To Nearby Cities

New York

Housing Supply in Brooklyn, NY

How many homes are available in Brooklyn, NY?

Number of Homes For Sale

Oct 2023Nov 2023CHANGE

Summary: The Brooklyn real estate market had 4,689 homes for sale in November 2023, a 3.0% decrease compared to October 2023.

Homes For Sale By Bedroom Count

# BEDSOct 2023Nov 2023CHANGE
1 948882
2 1,1421,076
3 959924
4 471478
5+ 1,3131,329

Summary: The Brooklyn housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 7%, 2 bedroom homes decreased by 5.8%, 3 bedroom homes decreased by 3.6%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes increased by 1.2%.

Number of Homes Sold

Oct 2023Nov 2023CHANGE

Asking Price vs. Sold Price

153 Homes Were Sold
Under Asking

170 Homes Were Sold
At Asking

31 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Brooklyn, expect to pay close to the asking price. 48% of homes here sold near the asking price last month.

Summary: A total of 354 homes were sold or pending in Brooklyn in November 2023, down by 16.7% month-over-month. Of the 354 sold homes, 43% were sold under asking, 48% were sold at asking, and 9% were sold over asking.

Days on Market for Brooklyn, NY

How long does it take to sell a home in Brooklyn, NY?

Average Sale Time

Nov 2022Nov 2023CHANGE
105 Days107 Days+2.1%

Summary: Homes in Brooklyn had an average of 107 days on market in Nov 2023, up by 2.1% compared to last year.

Breakdown of Home Sale Times

32 Homes Were Sold
Under 30 Days

75 Homes Were Sold
In 30 - 90 Days

90 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Brooklyn are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During November 2023, 354 homes were sold in Brooklyn; 9% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 6 Days Ago

Newest Listings in Brooklyn, NY

Nearby Markets to Brooklyn, NY

What housing markets are near Brooklyn, NY?