Is Brooklyn, MI 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, MI
How much do homes in Brooklyn, MI cost?
Median Sold Price
$285,000
$200/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Brooklyn have sold for 9.2% more than they did a year ago.
Summary: The median home sold price in Brooklyn was $285,000 in April 2024, up 9.2% from last year, and the median price per square foot was $200.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $86.5K | $195K | +125.4% |
| 2 Bedrooms | $166K | $229.9K | +38.5% |
| 3 Bedrooms | $287K | $265.2K | -7.6% |
| 4 Bedrooms | $303K | $337.5K | +11.4% |
| 5+ Bedrooms | $572.5K | $407.4K | -28.8% |
Summary: Brooklyn housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 125.4%, 2 bedroom homes increased by 38.5%, 3 bedroom homes decreased by 7.6%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes decreased by 28.8%.
Median Sold Price Compared To Nearby Cities
| Columbia Township | $287K | $318.7K | +11.1% |
| Brooklyn | $260.9K | $285K | +9.2% |
Housing Supply in Brooklyn, MI
How many homes are available in Brooklyn, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 71 | 87 | +22.5% |
Summary: The Brooklyn real estate market had 87 homes for sale in April 2024, a 22.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 4 | -33.3% |
| 2 Bedrooms | 14 | 17 | +21.4% |
| 3 Bedrooms | 31 | 39 | +25.8% |
| 4 Bedrooms | 15 | 19 | +26.7% |
| 5+ Bedrooms | 5 | 8 | +60.0% |
Summary: The Brooklyn housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 21.4%, 3 bedroom homes increased by 25.8%, 4 bedroom homes increased by 26.7%, and 5+ bedroom homes increased by 60%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 24 | +118.2% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Brooklyn, you may be able to get a good deal. 70.8% of homes here sold below asking price last month.
Summary: A total of 24 homes were sold or pending in Brooklyn in April 2024, up by 118.2% month-over-month. Of the 24 sold homes, 71% were sold under asking, 8% were sold at asking, and 21% were sold over asking.
Days on Market for Brooklyn, MI
How long does it take to sell a home in Brooklyn, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 21 Days | 69 Days | +218.4% |
Summary: Homes in Brooklyn had an average of 69 days on market in Apr 2024, up by 218.4% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Brooklyn has remained consistent over time.
Summary: During April 2024, 24 homes were sold in Brooklyn; 33% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.