Is Central 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, Central Brooklyn has remained a Buyer's Market.
Housing Prices in Central Brooklyn, NY
How much do homes in Central Brooklyn, NY cost?
Median Sold Price
$878,322
$688/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Central Brooklyn was $878,322 in May 2024, up 2.1% from last year, and the median price per square foot was $688.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $539K | $520K | -3.5% |
2 Bedrooms | $816K | $779.1K | -4.5% |
3 Bedrooms | $796.5K | $830K | +4.2% |
4 Bedrooms | $1.3M | $1.1M | -11.5% |
5+ Bedrooms | $1.6M | $1.4M | -14.5% |
Summary: Central Brooklyn housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.5%, 2 bedroom homes decreased by 4.5%, 3 bedroom homes increased by 4.2%, 4 bedroom homes decreased by 11.5%, and 5+ bedroom homes decreased by 14.5%.
Housing Supply in Central Brooklyn, NY
How many homes are available in Central Brooklyn, NY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
933 | 927 | -0.6% |
Summary: The Central Brooklyn real estate market had 927 homes for sale in May 2024, a 0.6% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 194 | 184 | -5.2% |
2 Bedrooms | 183 | 179 | -2.2% |
3 Bedrooms | 117 | 115 | -1.7% |
4 Bedrooms | 100 | 96 | -4.0% |
5+ Bedrooms | 339 | 353 | +4.1% |
Summary: The Central Brooklyn housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 5.2%, 2 bedroom homes decreased by 2.2%, 3 bedroom homes decreased by 1.7%, 4 bedroom homes decreased by 4%, and 5+ bedroom homes increased by 4.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
69 | 83 | +20.3% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
51 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 83 homes were sold or pending in Central Brooklyn in May 2024, up by 20.3% month-over-month. Of the 83 sold homes, 27% were sold under asking, 61% were sold at asking, and 12% were sold over asking.
Days on Market for Central Brooklyn, NY
How long does it take to sell a home in Central Brooklyn, NY?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
98 Days | 83 Days | -15.5% |
Summary: Homes in Central Brooklyn had an average of 83 days on market in May 2024, down by 15.5% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Summary: During May 2024, 83 homes were sold in Central Brooklyn; 8% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.