Is Downtown Brooklyn, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Downtown Brooklyn has remained a Buyer's Market.
Key Takeaway
Downtown Brooklyn is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Downtown Brooklyn, NY
How much do homes in Downtown Brooklyn, NY cost?
Median Sold Price
$1,450,000
$1,558/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Downtown Brooklyn have sold for 9.5% more than they did a year ago.
Summary: The median home sold price in Downtown Brooklyn was $1,450,000 in May 2024, up 9.5% from last year, and the median price per square foot was $1,558.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $949.5K | $1.0M | +10.6% |
| 2 Bedrooms | $1.6M | $1.6M | +0.6% |
| 3 Bedrooms | $2.4M | $2.4M | -2.2% |
| 4 Bedrooms | $4.3M | $3.9M | -7.6% |
| 5+ Bedrooms | - | $5.8M | N/A |
Summary: Downtown Brooklyn housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.6%, 2 bedroom homes increased by 0.6%, 3 bedroom homes decreased by 2.2%, 4 bedroom homes decreased by 7.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Dumbo | $1.9M | $2.7M | +41.1% |
| Brooklyn Heights | $1.3M | $1.7M | +27.0% |
| Fort Greene | $1.3M | $1.5M | +11.9% |
| Downtown Brooklyn | $1.3M | $1.4M | +9.5% |
| Northwestern Brooklyn | $1.3M | $1.4M | +7.3% |
Housing Supply in Downtown Brooklyn, NY
How many homes are available in Downtown Brooklyn, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 125 | 122 | -2.4% |
Summary: The Downtown Brooklyn real estate market had 122 homes for sale in May 2024, a 2.4% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 35 | 40 | +14.3% |
| 2 Bedrooms | 52 | 49 | -5.8% |
| 3 Bedrooms | 30 | 25 | -16.7% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Downtown Brooklyn housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes decreased by 5.8%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 10 | -37.5% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Downtown Brooklyn, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 10 homes were sold or pending in Downtown Brooklyn in May 2024, down by 37.5% month-over-month. Of the 10 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for Downtown Brooklyn, NY
We’re sorry, we don't have information for this market at the moment
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