Is Brooklyn, MD 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, 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
$220,750
$162/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Brooklyn have sold for 15.8% more than they did a year ago.
Summary: The median home sold price in Brooklyn was $220,750 in May 2024, up 15.8% from last year, and the median price per square foot was $162.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $46K | N/A |
| 2 Bedrooms | $109.9K | $129.5K | +17.8% |
| 3 Bedrooms | $187K | $214.5K | +14.7% |
| 4 Bedrooms | $295K | $304.5K | +3.2% |
| 5+ Bedrooms | $330K | $332.5K | +0.8% |
Summary: Brooklyn housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 17.8%, 3 bedroom homes increased by 14.7%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes increased by 0.8%.
Median Sold Price Compared To Nearby Cities
| Brooklyn | $190.6K | $220.7K | +15.8% |
| Halethorpe | $279K | $310K | +11.1% |
| Baltimore | $214.4K | $220K | +2.6% |
Housing Supply in Brooklyn, MD
How many homes are available in Brooklyn, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 119 | 129 | +8.4% |
Summary: The Brooklyn real estate market had 129 homes for sale in May 2024, a 8.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 20 | 25 | +25.0% |
| 3 Bedrooms | 63 | 69 | +9.5% |
| 4 Bedrooms | 27 | 28 | +3.7% |
| 5+ Bedrooms | 8 | 7 | -12.5% |
Summary: The Brooklyn housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 27 | 22 | -18.5% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
6 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 May 2024, down by 18.5% month-over-month. Of the 22 sold homes, 27% were sold under asking, 27% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 26 Days | 29 Days | +11.4% |
Summary: Homes in Brooklyn had an average of 29 days on market in May 2024, up by 11.4% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Brooklyn are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 22 homes were sold in Brooklyn; 68% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
