Ryan Roberts' Market Report
Brooklyn, NY 11238
Single-Family Homes
Prudential Douglas Elliman | (718) 780-8135 | ryan.roberts@elliman.com
Brooklyn, NY 11238
Sat May 04 2024
This week the median list price for Brooklyn, NY 11238 is $4,600,000 with the market action index hovering around 22. This is less than last month's market action index of 23. Inventory has increased to 4.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
The market has been cooling in recent weeks. Since this is a Buyer's market where there is excess inventory to satisfy the demand levels, prices have also been moving lower.
Real-Time Market Profile
| Median List Price | $4,600,000 | |
| Median Price of New Listings | $0 | |
| Per Square Foot | $961 | |
| Average Days on Market | 107 | |
| Median Days on Market | 91 | |
| Price Decreased | 0% | |
| Price Increased | 0% | |
| Relisted | 25% | |
| Inventory | 4 | |
| Median Rent | ||
| Market Action | 22 | |
| Slight Buyer's Advantage | ||
Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks 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 |
|---|---|---|---|---|---|---|---|---|
| $5,950,000 | 6,200 | 0 - 4,500 sqft | 6 | 5 | 125 | 0 | 0 | 105 |
| $5,250,000 | 3,600 | 0 - 4,500 sqft | 5 | 5 | 7 | 0 | 0 | 182 |
| $3,950,000 | 5,400 | 0 - 4,500 sqft | 8 | 8 | 19 | 0 | 0 | 77 |
| $3,500,000 | 3,627 | 0 - 4,500 sqft | 4 | 4.5 | 1 | 0 | 0 | 63 |