Is 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, 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
$965,912
$689/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Brooklyn have sold for 0.6% more than they did a year ago.
Summary: The median home sold price in Brooklyn was $965,912 in April 2024, up 0.6% from last year, and the median price per square foot was $689.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $597.4K | $568.6K | -4.8% |
| 2 Bedrooms | $946.9K | $913.3K | -3.6% |
| 3 Bedrooms | $950K | $963.3K | +1.4% |
| 4 Bedrooms | $1.2M | $1.2M | +1.6% |
| 5+ Bedrooms | $1.5M | $1.3M | -6.7% |
Summary: Brooklyn housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.8%, 2 bedroom homes decreased by 3.6%, 3 bedroom homes increased by 1.4%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes decreased by 6.7%.
Housing Supply in Brooklyn, NY
How many homes are available in Brooklyn, NY?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4,458 | 4,463 | 0.1% |
Summary: The Brooklyn real estate market had 4,463 homes for sale in April 2024, a 0.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 841 | 825 | -1.9% |
| 2 Bedrooms | 1,033 | 1,034 | 0.1% |
| 3 Bedrooms | 904 | 890 | -1.5% |
| 4 Bedrooms | 445 | 438 | -1.6% |
| 5+ Bedrooms | 1,235 | 1,276 | +3.3% |
Summary: The Brooklyn housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 1.9%, 2 bedroom homes increased by 0.1%, 3 bedroom homes decreased by 1.5%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes increased by 3.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 378 | 378 | 0.0% |
Asking Price vs. Sold Price
145 Homes Were Sold
Under Asking
208 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Brooklyn, expect to pay close to the asking price. 55% of homes here sold near the asking price last month.
Summary: A total of 378 homes were sold or pending in Brooklyn in April 2024, the same as the previous month. Of the 378 sold homes, 38% were sold under asking, 55% were sold at asking, and 7% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 107 Days | 101 Days | -6.1% |
Summary: Homes in Brooklyn had an average of 101 days on market in Apr 2024, down by 6.1% compared to last year.
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
71 Homes Were Sold
In 30 - 90 Days
69 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Brooklyn has remained consistent over time.
Summary: During April 2024, 378 homes were sold in Brooklyn; 7% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
Information being provided by Brooklyn Multiple Listing Service is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. 
©2024 The Real Estate Board of New York, Inc., All rights reserved. Website powered by IHR Technology Services. 
Listings courtesy of OneKey MLS as distributed by MLS GRID.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.