Is Mill Basin, NY 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, Mill Basin was a Neutral Market.
Key Takeaway
Mill Basin is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Mill Basin, NY
How much do homes in Mill Basin, NY cost?
Median Sold Price
$810,000
$511/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Mill Basin have sold for 4.7% less than they did a year ago.
Summary: The median home sold price in Mill Basin was $810,000 in April 2024, down 4.7% from last year, and the median price per square foot was $511.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $199K | $210K | +5.5% |
| 2 Bedrooms | $262.5K | $280K | +6.7% |
| 3 Bedrooms | $718.7K | $760K | +5.7% |
| 4 Bedrooms | $999K | $935K | -6.4% |
| 5+ Bedrooms | $1.1M | $1.2M | +2.4% |
Summary: Mill Basin housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.5%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 5.7%, 4 bedroom homes decreased by 6.4%, and 5+ bedroom homes increased by 2.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Southeastern Brooklyn | $760K | $737.3K | -3.0% |
| Mill Basin | $850K | $810K | -4.7% |
| Bergen Beach | $917.5K | $840K | -8.4% |
Housing Supply in Mill Basin, NY
How many homes are available in Mill Basin, NY?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 57 | 56 | -1.8% |
Summary: The Mill Basin real estate market had 56 homes for sale in April 2024, a 1.8% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 6 | +20.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 17 | 15 | -11.8% |
| 4 Bedrooms | 9 | 9 | 0.0% |
| 5+ Bedrooms | 22 | 23 | +4.5% |
Summary: The Mill Basin housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 11.8%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 4.5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 3 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mill Basin, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Mill Basin in April 2024, the same as the previous month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Mill Basin, NY
How long does it take to sell a home in Mill Basin, NY?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 65 Days | 96 Days | +47.9% |
Summary: Homes in Mill Basin had an average of 96 days on market in Apr 2024, up by 47.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Mill Basin are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 3 homes were sold in Mill Basin; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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