Is Northwestern Brooklyn, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Northwestern Brooklyn has remained a Buyer's Market.
Housing Prices in Northwestern Brooklyn, NY
How much do homes in Northwestern Brooklyn, NY cost?
Median Sold Price
$1,424,000
$1,323/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Northwestern Brooklyn was $1,424,000 in March 2024, up 9.1% from last year, and the median price per square foot was $1,323.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $794.7K | $811.6K | +2.1% |
2 Bedrooms | $1.3M | $1.4M | +3.4% |
3 Bedrooms | $2.3M | $2.3M | +1.1% |
4 Bedrooms | $4.2M | $4.3M | +3.0% |
5+ Bedrooms | $4.0M | $4.5M | +14.2% |
Summary: Northwestern Brooklyn housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.1%, 2 bedroom homes increased by 3.4%, 3 bedroom homes increased by 1.1%, 4 bedroom homes increased by 3%, and 5+ bedroom homes increased by 14.2%.
Median Sold Price Compared To Nearby Neighborhoods
Downtown Brooklyn | $1.1M | $1.3M | +15.0% |
Northwestern Brooklyn | $1.3M | $1.4M | +9.1% |
Housing Supply in Northwestern Brooklyn, NY
How many homes are available in Northwestern Brooklyn, NY?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
543 | 495 | -8.8% |
Summary: The Northwestern Brooklyn real estate market had 495 homes for sale in March 2024, a 8.8% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 162 | 149 | -8.0% |
2 Bedrooms | 185 | 167 | -9.7% |
3 Bedrooms | 119 | 103 | -13.4% |
4 Bedrooms | 33 | 29 | -12.1% |
5+ Bedrooms | 44 | 47 | +6.8% |
Summary: The Northwestern Brooklyn housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 8%, 2 bedroom homes decreased by 9.7%, 3 bedroom homes decreased by 13.4%, 4 bedroom homes decreased by 12.1%, and 5+ bedroom homes increased by 6.8%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
44 | 41 | -6.8% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
36 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 41 homes were sold or pending in Northwestern Brooklyn in March 2024, down by 6.8% month-over-month. Of the 41 sold homes, 10% were sold under asking, 88% were sold at asking, and 2% were sold over asking.
Days on Market for Northwestern Brooklyn, NY
How long does it take to sell a home in Northwestern Brooklyn, NY?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
118 Days | 115 Days | -2.5% |
Summary: Homes in Northwestern Brooklyn had an average of 115 days on market in Mar 2024, down by 2.5% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 41 homes were sold in Northwestern Brooklyn; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.