Is Brooklyn, MD 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 Seller's Market.
Key Takeaway
Brooklyn is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Brooklyn, MD
How much do homes in Brooklyn, MD cost?
Median Sold Price
$217,500
$160/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Brooklyn have sold for 11.7% more than they did a year ago.
Summary: The median home sold price in Brooklyn was $217,500 in April 2024, up 11.7% from last year, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $46K | N/A |
| 2 Bedrooms | $107.4K | $130K | +21.0% |
| 3 Bedrooms | $194.5K | $210.5K | +8.2% |
| 4 Bedrooms | $292.5K | $295K | +0.9% |
| 5+ Bedrooms | $332.5K | $325K | -2.3% |
Summary: Brooklyn housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 21%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 0.9%, and 5+ bedroom homes decreased by 2.3%.
Median Sold Price Compared To Nearby Cities
| Brooklyn | $194.7K | $217.5K | +11.7% |
| Halethorpe | $280.7K | $308K | +9.7% |
| Baltimore | $215K | $220K | +2.3% |
Housing Supply in Brooklyn, MD
How many homes are available in Brooklyn, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 119 | 117 | -1.7% |
Summary: The Brooklyn real estate market had 117 homes for sale in April 2024, a 1.7% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 20 | 20 | 0.0% |
| 3 Bedrooms | 64 | 61 | -4.7% |
| 4 Bedrooms | 25 | 27 | +8.0% |
| 5+ Bedrooms | 9 | 8 | -11.1% |
Summary: The Brooklyn housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 4.7%, 4 bedroom homes increased by 8%, and 5+ bedroom homes decreased by 11.1%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 38 | 22 | -42.1% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Brooklyn, you could pay more than the asking price. 45.5% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in Brooklyn in April 2024, down by 42.1% month-over-month. Of the 22 sold homes, 32% were sold under asking, 23% were sold at asking, and 45% were sold over asking.
Days on Market for Brooklyn, MD
How long does it take to sell a home in Brooklyn, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 38 Days | 22 Days | -40.0% |
Summary: Homes in Brooklyn had an average of 22 days on market in Apr 2024, down by 40% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Brooklyn are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 22 homes were sold in Brooklyn; 73% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
