Ryan Roberts' Market Report
Brooklyn, NY 11238
Condos/Townhomes
Prudential Douglas Elliman | (718) 780-8135 | ryan.roberts@elliman.com
Brooklyn, NY 11238
Sun May 05 2024
This week the median list price for Brooklyn, NY 11238 is $1,754,500 with the market action index hovering around 34. This is an increase over last month's market action index of 33. Inventory has increased to 52.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
Real-Time Market Profile
| Median List Price | $1,754,500 | |
| Median Price of New Listings | $2,095,000 | |
| Per Square Foot | $1,191 | |
| Average Days on Market | 94 | |
| Median Days on Market | 46 | |
| Price Decreased | 15% | |
| Price Increased | 2% | |
| Relisted | 2% | |
| Inventory | 52 | |
| Median Rent | ||
| Market Action | 34 | |
| Slight Seller's Advantage | ||
We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.
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 |
|---|---|---|---|---|---|---|---|---|
| $3,900,000 | 3,600 | 0 - 4,500 sqft | 6 | 4 | 94 | 1 | 0 | 91 |
| $2,200,000 | 1,858 | 0 - 4,500 sqft | 3 | 2.5 | 104 | 2 | 3 | 49 |
| $1,350,000 | 1,167 | 0 - 4,500 sqft | 2 | 2 | 36 | 0 | 2 | 35 |
| $850,000 | 699 | 6,500 - 8,000 sqft | 1 | 1 | 16 | 0 | 1 | 35 |