Is Northwestern 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, 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
$1,427,000
$1,328/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Northwestern Brooklyn was $1,427,000 in April 2024, up 6.4% from last year, and the median price per square foot was $1,328.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $818.3K | $810K | -1.0% |
2 Bedrooms | $1.3M | $1.4M | +0.9% |
3 Bedrooms | $2.3M | $2.3M | +4.1% |
4 Bedrooms | $4.1M | $4.3M | +6.1% |
5+ Bedrooms | $4.0M | $4.5M | +13.1% |
Summary: Northwestern Brooklyn housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1%, 2 bedroom homes increased by 0.9%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes increased by 13.1%.
Median Sold Price Compared To Nearby Neighborhoods
Downtown Brooklyn | $1.2M | $1.4M | +12.7% |
Northwestern Brooklyn | $1.3M | $1.4M | +6.4% |
Housing Supply in Northwestern Brooklyn, NY
How many homes are available in Northwestern Brooklyn, NY?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
474 | 434 | -8.4% |
Summary: The Northwestern Brooklyn real estate market had 434 homes for sale in April 2024, a 8.4% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 144 | 127 | -11.8% |
2 Bedrooms | 150 | 139 | -7.3% |
3 Bedrooms | 99 | 87 | -12.1% |
4 Bedrooms | 31 | 28 | -9.7% |
5+ Bedrooms | 50 | 53 | +6.0% |
Summary: The Northwestern Brooklyn housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 11.8%, 2 bedroom homes decreased by 7.3%, 3 bedroom homes decreased by 12.1%, 4 bedroom homes decreased by 9.7%, and 5+ bedroom homes increased by 6%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
46 | 48 | +4.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
42 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 48 homes were sold or pending in Northwestern Brooklyn in April 2024, up by 4.3% month-over-month. Of the 48 sold homes, 6% were sold under asking, 88% were sold at asking, and 6% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
165 Days | 169 Days | +2.4% |
Summary: Homes in Northwestern Brooklyn had an average of 169 days on market in Apr 2024, up by 2.4% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 48 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 2% of homes were sold over 90 days.