Ryan Roberts' Market Report

Brooklyn, NY 11216

Condos/Townhomes

Prudential Douglas Elliman | (718) 780-8135 | ryan.roberts@elliman.com


Brooklyn, NY 11216

Sun May 05 2024
This week the median list price for Brooklyn, NY 11216 is $1,350,000 with the market action index hovering around 44. This is less than last month's market action index of 46. Inventory has increased to 48. Click here to stay informed with the Brooklyn market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’ll be looking for a persistent downward trend. If we see a persistent trend, especially if the MAI falls from the Seller’s Market zone to the Buyer’s Market zone, expect downward pressure on prices. There is already some evidence prices moving lower.

Brooklyn, NY 11216

Sun May 05 2024
This week the median list price for Brooklyn, NY 11216 is $1,350,000 with the market action index hovering around 44. This is less than last month's market action index of 46. Inventory has increased to 48. Click here to stay informed with the Brooklyn market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’ll be looking for a persistent downward trend. If we see a persistent trend, especially if the MAI falls from the Seller’s Market zone to the Buyer’s Market zone, expect downward pressure on prices. There is already some evidence prices moving lower.

Real-Time Market Profile

Never miss important changes in the Brooklyn market.
Median List Price $1,350,000
Median Price of New Listings $2,495,000
Per Square Foot $997
Average Days on Market 65
Median Days on Market 35
Price Decreased 23%
Price Increased 0%
Relisted 8%
Inventory 48
Median Rent
Market Action 44
Slight Seller's Advantage

Again this week we see a downward notch for prices in this zip code. Pricing has been weak recently and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$3,357,500 3,580 0 - 4,500 sqft 6 4.5 123 2 0 35
$2,137,500 3,099 0 - 4,500 sqft 5 3.3 123 2 0 10
$1,212,500 1,018 - 2 2 12 1 1 35
$791,500 616 - 1 1 1 0 1 38