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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Brooklyn is a buyer's market

Buyer's
Market

Difference Since August 2021

At the same time last year, Brooklyn was a Neutral Market.

Key Takeaway

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

How much do homes in Brooklyn, NY cost?

Median Sold Price

$941,347

$686/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$41,893(+4.7%)

Key Takeaway

Homes in Brooklyn have sold for 4.7% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $584.4K$589.1K
+0.8%
2 $909.9K$910.4K
0.1%
3 $899.8K$919.6K
+2.2%
4 $1.1M$1.2M
+5.4%
5+ $1.3M$1.4M
+11.8%

Median Sold Price Compared To Nearby Cities

Manhattan
+6.6%
New York
+6.4%
Queens
+6.4%
Brooklyn
+4.7%

How many homes are available in Brooklyn, NY?

Number of Homes For Sale

Jul 2022Aug 2022%
6,1645,993-2.8%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 1,2651,209
-4.4%
2 1,5591,481
-5.0%
3 1,1871,153
-2.9%
4 608603
-0.8%
5+ 1,5451,547
0.1%

Number of Homes Sold

Jul 2022Aug 2022%
728707-2.9%

Asking Price vs. Sold Price

229 Homes Were Sold
Under Asking

420 Homes Were Sold
At Asking

58 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. 59.4% of homes here sold near the asking price last month.

Average Sale Time

Aug 2021Aug 2022%
102 Days86 Days-15.4%

Breakdown of Home Sale Times

76 Homes Were Sold
Under 30 Days

123 Homes Were Sold
In 30 - 90 Days

85 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Brooklyn has remained consistent over time.

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

About Brooklyn, NY

Brooklyn, NY has 5,993 homes for sale to choose from. The number of homes for sale in Brooklyn, NY decreased by 2.8% between July 2022 and August 2022. In August 2022, listings were on the market for 86 days. During the same period, the median list price in this real estate market was $941,347. This housing market listing prices have changed between July 2022 and August 2022: the cost of 1 bedroom properties went up by 0.8%, the cost of 2 bedrooms properties went up by 0.1%, the cost of 3 bedrooms properties went up by 2.2%, 4 bedrooms properties prices increased by 5.4%, 5 bedrooms properties became 11.8% more expensive. This housing market inventory have changed: the quantity of 1 bedroom homes went down by 4.4%, number of 2 bedrooms homes decreased by 5%, volume of 3 bedrooms homes went down by 2.9%, volume of 4 bedrooms homes went down by 0.8%, number of 5 bedrooms homes increased by 0.1%. While more than 58 listings in Brooklyn, NY in August 2022 were sold above asking price, there were more than 420 listings sold at asking price, and more than 229 were sold below.

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