Brooklyn Housing Market Report December 2024•Kings County, New York

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Housing Prices in Brooklyn, NY

How much do homes in Brooklyn, NY cost?

Housing Market Conditions

Is Brooklyn, NY a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Brooklyn is a Buyer's Market

Difference Since December 2023

Since last year, Brooklyn has remained a Buyer's Market.

Insight

Brooklyn is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$987,395$714/SqFt
+$35,307
+3.7%

Based on all homes sold in the last 12 months

Insight

Homes in Brooklyn have sold for 3.7% more than they did a year ago.

Summary: The median home sold price in Brooklyn was $987,395 in December 2024, up 3.7% from last year, and the median price per square foot was $714.

Median Sold Price By City

Median Sold Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Queens
+7.1%
Brooklyn
+3.7%
New York
+3.1%
Manhattan
-0.1%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsDec 2023Dec 2024Change YoY
2$901.3K$951K
+5.5%
3$949.5K$993.4K
+4.6%
4$1.2M$1.2M
+0.7%
5$1.3M$1.4M
+5.1%
1$562.9K$555K
-1.4%

Summary: Brooklyn housing price by bedroom type for December 2024, compared to the previous year. The home price for 2 bedroom homes increased by +5.5%. The home price for 3 bedroom homes increased by +4.6%. The home price for 4 bedroom homes increased by +0.7%. The home price for 5 bedroom homes increased by +5.1%. The home price for 1 bedroom homes decreased by -1.4%.

Housing supply in Brooklyn, NY

How many homes are available in Brooklyn, NY?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
3,690Last MonthDec 2024
4,1172 months agoNov 2024
-10.4 %
Change MoMNov – Dec

Summary: The Brooklyn real estate market had 3,690 homes for sale in Dec 2024, a 10.4 % decrease compared to Nov 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
475Last MonthDec 2024
4082 months agoNov 2024
+16.4 %
Change MoMNov – Dec

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsNov 2024Dec 2024Change MoM
2943814
-13.7%
3831735
-11.6%
4401372
-7.2%
51,1451,084
-5.3%
1797685
-14.1%

Summary: Brooklyn housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 2 bedroom homes decreased by -13.7%. The inventory for 3 bedroom homes decreased by -11.6%. The inventory for 4 bedroom homes decreased by -7.2%. The inventory for 5 bedroom homes decreased by -5.3%. The inventory for 1 bedroom homes decreased by -14.1%.

Asking Price vs. Sold Price

How much do homes in Brooklyn, NY cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price40 Homes

At Asking Price257 Homes

Under Asking Price178 Homes

Insight

If you're buying a home in Brooklyn, expect to pay close to the asking price. 54.1% of homes here sold near the asking price last month.

Summary: A total of 475 homes were sold or pending in Brooklyn in December 2024, up by 16.4% month-over-month. Of the 475 sold homes, 37% were sold under asking, 54% were sold at asking, and and 8% were sold over asking.

Days on Market for Brooklyn, NY

How long does it take to sell a home in Brooklyn, NY?

Breakdown of Home Sale Times

Under 30 Days55 Homes

30 – 90 Days93 Homes

Over 90 Days70 Homes

Insight

Avg time on Rocket Homes in Brooklyn has remained consistent over time.

Summary: During December 2024, 475 homes were sold in Brooklyn; 12% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
88 DaysThis YearDec 2024
116 Days1 year agoDec 2023
-24.3 %
Change YoYDec 2023 – Dec 2024

Summary: Homes in Brooklyn had an average listing age of 88 days in Dec 2024, down by 24.3% compared to the previous year.

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Newest Listings in Brooklyn, NY

What homes are available in Brooklyn, NY?

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Nearby markets

Popular Cities with Homes for Sale in New York

MLS Disclaimers and Copyright

Based on information from Brooklyn MLS, Real Estate Board of New York, OneKey MLS, and New Jersey MLS for the period 01/01/2023 - 01/01/2025

IDX Information being provided by Brooklyn Multiple Listing Service is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing.

The accuracy of all information, regardless of source, including but not limited to open house information, square footage and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Brooklyn Multiple Listing Service and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited.

Copyright © 2025 Brooklyn Multiple Listing Service. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.

This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.
Last updated on: 1/17/2025, 10:20:49 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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Listing information for certain New York City properties provided courtesy of the Real Estate Board ofNew York’s Residential Listing Service (the “RLS”). The information contained in this listing has not beenverified by the RLS and should be verified by the consumer. The listing information provided here is forthe consumer’s personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property.

This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.

This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.
Last updated on: 1/16/2025, 2:31:10 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX Listings courtesy of OneKey MLS as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

IDXThe data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

The source of the displayed data is either the property owner or public record provided by non-governmental third parties. It is believed to be reliable but not guaranteed.

Information Copyright 2025, OneKey™ MLS. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.

This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.
Last updated on: 1/17/2025, 10:11:50 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDXDisclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Rocket Homes Real Estate, LLC are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.

All information deemed reliable but not guaranteed. Source: New Jersey Multiple Listing Service, Inc. Copyright© 2025 New Jersey Multiple Listing Service, Inc. All rights reserved.

Rocket Homes Real Estate, 701 Griswold St, Suite 21, Detroit, MI 48226

Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/17/2025, 10:21:10 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.