Is Downtown 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, Downtown Brooklyn has remained a Buyer's Market.
Housing Prices in Downtown Brooklyn, NY
How much do homes in Downtown Brooklyn, NY cost?
Median Sold Price
$1,420,000
$1,559/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Downtown Brooklyn was $1,420,000 in April 2024, up 12.7% from last year, and the median price per square foot was $1,559.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $968.7K | $1.0M | +5.8% |
2 Bedrooms | $1.4M | $1.6M | +12.7% |
3 Bedrooms | $2.6M | $2.3M | -9.3% |
4 Bedrooms | $4.3M | $3.9M | -7.6% |
5+ Bedrooms | - | $5.8M | N/A |
Summary: Downtown Brooklyn housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.8%, 2 bedroom homes increased by 12.7%, 3 bedroom homes decreased by 9.3%, 4 bedroom homes decreased by 7.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
Dumbo | $1.8M | $2.9M | +66.1% |
Brooklyn Heights | $1.4M | $1.6M | +14.0% |
Downtown Brooklyn | $1.2M | $1.4M | +12.7% |
Northwestern Brooklyn | $1.3M | $1.4M | +6.4% |
Housing Supply in Downtown Brooklyn, NY
How many homes are available in Downtown Brooklyn, NY?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
129 | 116 | -10.1% |
Summary: The Downtown Brooklyn real estate market had 116 homes for sale in April 2024, a 10.1% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 38 | 35 | -7.9% |
2 Bedrooms | 52 | 49 | -5.8% |
3 Bedrooms | 29 | 23 | -20.7% |
4 Bedrooms | 10 | 9 | -10.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Downtown Brooklyn housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 7.9%, 2 bedroom homes decreased by 5.8%, 3 bedroom homes decreased by 20.7%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
12 | 14 | +16.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
11 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in Downtown Brooklyn in April 2024, up by 16.7% month-over-month. Of the 14 sold homes, 7% were sold under asking, 79% were sold at asking, and 14% were sold over asking.
Days on Market for Downtown Brooklyn, NY
How long does it take to sell a home in Downtown Brooklyn, NY?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 14 homes were sold in Downtown Brooklyn; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.