Is Northern 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, Northern Brooklyn has remained a Buyer's Market.
Key Takeaway
Northern Brooklyn is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Northern Brooklyn, NY
How much do homes in Northern Brooklyn, NY cost?
Median Sold Price
$1,235,238
$1,244/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Northern Brooklyn have sold for 2.8% less than they did a year ago.
Summary: The median home sold price in Northern Brooklyn was $1,235,238 in April 2024, down 2.8% from last year, and the median price per square foot was $1,244.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $850K | $970K | +14.1% |
| 2 Bedrooms | $1.4M | $1.3M | -4.1% |
| 3 Bedrooms | $2.1M | $2.0M | -2.1% |
| 4 Bedrooms | $1.9M | $1.8M | -0.1% |
| 5+ Bedrooms | $1.6M | $1.7M | +1.6% |
Summary: Northern Brooklyn housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.1%, 2 bedroom homes decreased by 4.1%, 3 bedroom homes decreased by 2.1%, 4 bedroom homes decreased by 0.1%, and 5+ bedroom homes increased by 1.6%.
Median Sold Price Compared To Nearby Neighborhoods
| Greenpoint | $1.4M | $1.5M | +10.5% |
| Williamsburg | $1.4M | $1.4M | +3.3% |
| Northern Brooklyn | $1.2M | $1.2M | -2.8% |
| East Williamsburg | $1.2M | $1.1M | -7.1% |
Housing Supply in Northern Brooklyn, NY
How many homes are available in Northern Brooklyn, NY?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 451 | 447 | -0.9% |
Summary: The Northern Brooklyn real estate market had 447 homes for sale in April 2024, a 0.9% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 102 | 98 | -3.9% |
| 2 Bedrooms | 126 | 125 | -0.8% |
| 3 Bedrooms | 62 | 62 | 0.0% |
| 4 Bedrooms | 28 | 27 | -3.6% |
| 5+ Bedrooms | 133 | 135 | +1.5% |
Summary: The Northern Brooklyn housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 3.9%, 2 bedroom homes decreased by 0.8%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 3.6%, and 5+ bedroom homes increased by 1.5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 41 | 59 | +43.9% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
49 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Northern Brooklyn, expect to pay close to the asking price. 83.1% of homes here sold near the asking price last month.
Summary: A total of 59 homes were sold or pending in Northern Brooklyn in April 2024, up by 43.9% month-over-month. Of the 59 sold homes, 14% were sold under asking, 83% were sold at asking, and 3% were sold over asking.
Days on Market for Northern Brooklyn, NY
How long does it take to sell a home in Northern Brooklyn, NY?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 144 Days | 74 Days | -48.3% |
Summary: Homes in Northern Brooklyn had an average of 74 days on market in Apr 2024, down by 48.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Northern Brooklyn has remained consistent over time.
Summary: During April 2024, 59 homes were sold in Northern Brooklyn; 2% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
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