BROOKLYN MARKET UPDATE
AUGUST 2025
Brooklyn MARKET OVERVIEW
CONDO, CO-OP AND SINGLE-FAMILY HOMES
Date Range Aug 2024 vs Aug 2025
Contracts signed for Brooklyn residential properties decreased from 308 last year to 266 this year, with a slight increase in days on market from 82 to 83 days. The median price of recorded sales rose from $886K to $948K, indicating rising home values despite fewer contract signings.
Recorded sales prices increased by about 7% from $886K to $948K year-over-year, supporting a trend toward higher home valuations even as the number of contracts declines slightly.
NEW AND RESALE CONDOS
Date Range Aug 2024 vs Aug 2025
Condo contract signings fell from 198 last year to 165 this year, but median days on market increased slightly from 76.5 to 85.5 days. Condo prices improved from $995K to over $1.12M, suggesting strong demand for higherend properties despite fewer contracts.
Median condo sale prices jumped approximately 13%, from $995K to $1.12M, reflecting continued value growth in Brooklyn’s luxury condo market.
Date Range
Aug 2024 vs. Aug 2025
Co-op contract signings dipped modestly from 73 to 70, with days on market decreasing slightly from 75.5 to 67.5. The median sales price declined slightly from $581K to $525K, indicating stable but slightly softer co-op prices amid fewer signed contracts.
Recorded co-op prices dropped marginally from $581K to $525K, signaling some softening in the co-op market but overall stability in pricing.
SINGLE-FAMILY
TOWNHOUSES AND DETACHED SINGLE-FAMILY HOMES
Range Aug 2024 vs Aug 2025
Single-family contract signings fell from 36 to 26, and median days on market decreased from 106 to 84 days. Prices increased slightly from $950K to $990K, demonstrating steady demand for Brooklyn’s single-family homes despite fewer transactions.
for single-family homes grew a bit from $950K to $990K, showing resilience and appreciation in this segment, even as contract activity declines.
Brooklyn
NEW DEVELOPMENT
NEW DEVELOPMENT CONDO & CO-OP
Contracts signed have decreased from 109 last year to 88 this year, indicating a slowdown in new development activity and possibly less buyer interest or higher borrowing costs. The average days on market for contracts remains unspecified but is likely impacted by this slowdown.
Current unsold inventory stands at 2,846 units, down from 4,747 units last year, with 451 active listings on the market, suggesting a tighter market with fewer available homes for buyers.
CLOSINGS
Date Range Aug 2024 vs Aug 2025
2,846
Total New Units
451 2,395 UNITS
84% of new inventory is unlisted
The median sale price has jumped sharply from $997K last year to $1.45M this year, reflecting strong buyer demand and rising property values, with price per square foot also seeing notable increases.
LUXURY MARKET REPORT
$4M+ PROPERTIES
Date Range Aug 2024 vs Aug 2025
This August, Brooklyn's luxury market saw a 66% increase in signed contracts compared to last year, with 15 contracts versus 9. Despite more activity, properties took longer to sell, with days on market rising from 30 to 127 days.
Median sale prices slightly declined to $5.4M from $5.5M, while price per square foot (PPSF) dropped from $1,628 to $1,454, indicating decreased price efficiency.
$4M - $10M
MARKET - $4M TO $10M PROPERTIES Date Range Aug 2024 vs Aug 2025
In the $4M-$10M range, contracts signed increased to 12 from 9 over the past year. The median days on market surged significantly from 30 to 123 days, suggesting buying decisions took longer.
The median sale price showed marginal growth from $5.321M to $5.35M, but PPSF fell from $1,614 to $1,425, pointing to softer market conditions.
MARKET - $10M+ PROPERTIES
This year, three contracts were signed in this range compared to none last year, with a median of 148 days on market, signaling entry of ultra-luxury buyers. CLOSINGS
Median prices dropped from $38.125M to $33.01M, and PPSF significantly decreased from $3,750 to $2,504, reflecting a weakening in the ultra-luxury segment.
Brooklyn
CONDO MARKET REPORT
NEW AND RESALE CONDOS
Date Range Aug 2024 vs Aug 2025
In Brooklyn, condo contract signings decreased by approximately 17% from 198 last year to 165 this year, with a slight increase in median days on market from 76.5 to 85.5 days, indicating a modest slowdown in sales activity. Recorded sales prices have risen notably, with median prices climbing from $995K to $1.12M, reflecting ongoing demand and price appreciation.
Prices for recorded condo sales increased about 13%, with median prices rising from $995K to $1.12M, while price per square foot saw a minor uptick, suggesting sustained appreciation without significant change in unit size or pricing trends.
CONDO MARKET - STUDIOS
Date Range Aug 2024 vs Aug 2025
Studio contracts signed grew slightly from 8 to 9, but days on market nearly doubled from 43 to 85 days, indicating a slower pace for smaller units in Brooklyn this year.
Median prices for recorded studio sales increased from $665K to $750K, with price per square foot remaining stable, highlighting steady demand for this segment despite a longer time on market.
Brooklyn
ONE BEDROOMS
CONDO MARKET - 1 BEDROOMS
One-bedroom contracts declined from 79 to 50, with an increase in median days on market from 77 to 83 days, suggesting slightly softer activity but continued seller price strength.
Median prices rose from $720K to $865K, with prices per square foot improving, indicating healthy appreciation in 1-bed units over the year.
Brooklyn
TWO BEDROOMS
CONDO MARKET - 2 BEDROOMS
Range Aug 2024 vs Aug 2025
Two-bedroom contracts held steady at 67, but median days on market increased from 80.5 to 91 days, pointing to a slight cooling but still robust activity.
Prices increased from $1.2M to $1.35M, with consistent price per square foot, reflecting ongoing demand for larger units in Brooklyn.
Brooklyn
THREE BEDROOMS
CONDO MARKET - 3 BEDROOMS
Range Aug 2024 vs Aug 2025
Three-bedroom contracts decreased from 40 to 35, with days on market rising from 75.5 to 94 days, indicating softer activity among larger families or investors.
Median prices saw a decline from $1.997M to $1.86M, with a slight drop in price per square foot, signaling some softening at the high end.
- 4 BEDROOMS
Four-bedroom contracts remained stable at 4, but days on market increased from 63.5 to 103 days, suggesting reduced urgency or price adjustments among luxury larger units.
Median prices decreased sharply from over $3.8M to $1.5M, with a significant drop in price per square foot, indicating a correction or softening in this segment of the market.
Brooklyn
MARKET REPORT
Date Range Aug 2024 vs Aug 2025
In Brooklyn, overall contract signings for co-ops and condos are slightly down from last year, with a small decrease in the total contracts (70 vs. 73) and a median DOM increase from 62 to 68 days, indicating a slight slowdown in buyer activity.
Despite fewer contracts, the median sales price for recorded co-op sales declined from $581K last year to $525K, with prices per square foot dropping from $600 to $583, suggesting softer pricing and less aggressive bidding.
CO-OP MARKET - STUDIOS Date Range Aug 2024 vs Aug 2025
Contracts for studios remained steady at 5, but days on market improved significantly from a median of 119 to 59, indicating quicker transactions but fewer new deals, possibly reflecting cautious buyer sentiment.
Studio sale prices increased from a median of $273K to $308K, with price per square foot slightly up from $534 to $583, showing steady or growing value despite fewer contracts.
Brooklyn
ONE BEDROOMS
CO-OP MARKET - 1 BEDROOMS Date Range Aug 2024 vs Aug 2025
One-bedroom contracts edged up from 31 to 34, with DOM shortening from 90.5 to 90 days, pointing to slightly more active yet faster sales pace in this segment.
Median sales price for 1-bed units declined from $468.99K to $430K, though price per square foot remained stable at around $500, implying some softening in overall price levels.
Brooklyn
TWO BEDROOMS
CO-OP MARKET - 2 BEDROOMS
Range Aug 2024 vs Aug 2025
Two-bedroom contract activity held steady at 28, but the median DOM decreased from 65 to 28 days, reflecting a quicker sales cycle compared to last year.
Prices in this segment softened, with median sales dropping from $847.5K to $774K and price per square foot falling from about $839 to $601, indicating a slight price retraction.
Brooklyn
THREE BEDROOMS
CO-OP MARKET - 3 BEDROOMS
Three-bed contracts fell from 8 to 3, with DOM decreasing from 79 to 26 days, but this lower count suggests less market activity in larger units.
Median price declined from $1.58M to $1.47M, with a reduction in price per square foot from $800 to approximately $743, showing modest price declines for larger homes.
TOWNHOUSE MARKET REPORT
TOWNHOUSE AND SINGLE-FAMILY HOMES
Date Range Aug 2024 vs Aug 2025
DAYS ON MARKET
In Brooklyn, the number of townhouse contracts signed increased from 56 to 65 year-over-year, with a shorter median DOM of 64 days compared to 50 days previously, indicating slightly more activity but quicker negotiations. The median price per square foot rose modestly from $569 to $751, suggesting rising value expectations among buyers.
The median recorded sale price for townhouses increased from about $1.1M to $1.2M, showing continued appreciation in property values despite a similar sales volume trend.
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BROOKLYN REAL ESTATE MONTHLY MARKET OVERVIEW
In August 2025, the Brooklyn real estate market experienced varying trends across different segments. Here's a brief overview:
Marketwide
The market witnessed a marginal decrease in contracts signed by -0 64%, while the average price rose by 2 40% to $1 66M The overall dollar volume also increased by 1 75%, reaching $512M, despite a significant reduction in new listings, which dropped by 15 68%
New Development
This segment saw a remarkable uptick, with contracts signed increasing by 18 92% The average price increased by 6.99% to $1.74M, and the dollar volume surged by 27.23% to $153M.
Luxury ($4M+)
While the number of luxury contracts signed fell by 16.67%, the segment experienced a substantial increase in average price by 32 95% to $8 1M The overall dollar volume rose by 22 31%, indicating strong demand despite fewer contracts
Resale Condo
Resale condos saw a stabilization in contracts with no change, but both the average price and the average PPSF decreased by 5 43% and 5 67% respectively, leading to a drop in dollar volume by 15.49%.
Resale Co-op
This segment faced challenges with a decline in contracts signed by 12 66% Both the average price and dollar volume decreased significantly, illustrating reduced activity
Single-Family
The single-family market showed resilience, with average price and dollar volume increasing by 26 59%, despite a decline in contracts signed.
Multi-Family
Although there was an 11 36% decrease in contracts signed, the multi-family segment saw a 4 35% increase in the average price, suggesting sustained interest in this market type
In summary, the Brooklyn real estate market in August 2025 displayed a blend of growth and challenges, with new development and luxury segments driving forward, while other segments showed mixed results
Monthly New Supply
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