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Brooklyn NY Real Estate Market Overview

$925,000

Median Listing Price

$630

Median Sale Price per Sq. Ft.

$925,000

Median Sold Price

113

Median Days on Market

Brooklyn, NY Real Estate Market Overview

The Brooklyn housing market has seen a slight decline in median prices yet remains notably higher than the national average, presenting unique comparisons in the real estate landscape.

Current Market Trends: What Buyers Need to Know

Insights into Brooklyn's housing market:

Median Home Prices: Brooklyn witnessed a modest decrease of 2.6% in the median sale price of homes, settling at $925,000 compared to the previous year.

Price per Square Foot: There's been a notable decline of 9.22% in the median sale price per square foot, now standing at $630.

Comparison with National Averages:

Price Comparison: Brooklyn's median sale price is notably higher, approximately 123% higher than the national average.

Overall Cost Comparison: The overall cost of living in Brooklyn is approximately 63% higher than the national average.

Engage with The Novo Team

For personalized guidance and expert assistance in navigating Brooklyn's dynamic real estate market, trust The Novo Team. With a commitment to exceptional service and a comprehensive understanding of the local market, The Novo Team is equipped to help you achieve your real estate goals in Brooklyn.

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The Novo Team offers over 30+ years of expertise in the New York Metro marketplace producing hundreds of millions in sales. Our scope is expansive. We house competencies ranging from: New Development Marketing, Processes and Controls Design, Brand Management and Licensing, to Private Sector Consulting and North Fork - Hamptons Markets.

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