BROOKLYN MARKET OVERVIEW
In Brooklyn's residential market, there were1,031 contracts signed in Q2 2025, an increase from 981 in Q2 2024, but homes arestaying on the market longer with a median of 52 days versus 45 days last year.
The median recorded sale price is slightly down at $874K in Q2 2025 compared to $882K last year, indicating stable but slightly cooling prices.
BROOKLYN CONDO
AND RESALE CONDOS
Condo contracts rose to 551 in Q2 2025 from 538 in the previous year, with days on market increasing marginally from 53 to 55 days.
The condo market saw an increase in median prices, now at $1.06M in Q2 2025 up from $1.01M, although the price per square foot slightly decreased.
BROOKLYN CO-OP
Co-op contracts jumped to 367 in Q2 2025 from 325, but the median time to contract has increased to 43 days from 37 days last year.
Co-op sales prices increased with a median of $494K now, up from $473K in Q2 2024, reflecting growing demand in the co-op segment.
TOWNHOUSES AND DETACHED SINGLE-FAMILY HOMES
Single-family home contracts slightly decreased to 99 in Q2 2025 from 107 in Q2 2024, with increased days on the market at 67 compared to 48 days earlier.
The median sale price dropped to $913K from $950K, while the price per square foot edged up, suggesting buyers are paying more for space efficiency.
BROOKLYN NEW DEVELOPMENT
In Q2 2025, Brooklyn's new development contracts were slightly down with 235 signed compared to 242 last year; the average property remained on the market for roughly similar periods.
Brooklyn's unsold new development inventory remains robust with 2,822 units, 474 buildings, and 482 actively listed, indicating a vibrant but steady market.
2,822
Total New Units
2,340 Units
Median sale prices for new developments jumped from $1,079,742 in Q2 2024 to $1,272,802 this year, though price per square foot slightly decreased
LUXURY MARKET REPORT
$4M+ PROPERTIES
In Q2 2025, the Brooklyn luxury market saw a slight increase in contracts with 58 compared to 51 the prior year, and properties are taking longer to sell with a median of 70 days on market, up from 58.5 days. CLOSINGS
Median sale prices were stable at $5.3M with a notable decrease in price per square foot to $1,384 from $1,527, possibly indicating larger property sizes being sold.
BROOKLYN
$4M - $10M
LUXURY MARKET - $4M TO $10M PROPERTIES
Contracts in the $4M to $10M segment rose to 56 from 47, but similarly, these homes took longer to move with a median DOM of 70 days versus 58.5 days last year. CLOSINGS
The median price decreased slightly to $5.1M, and we observe a significant drop in the price per square foot to $1,352 from $1,516, suggesting buyers are getting more space for their dollar.
MARKET - $10M+ PROPERTIES
High-end luxury $10M+ contracts decreased sharply to just 2 from 4, and DOM increased significantly from 56 to 182 days, indicating a challenging market for sellers.
Despite fewer transactions, high-end properties saw a price drop with the median at $11.35M, down from $13.54M, whereas the price per square foot surged to $2,498, reflecting a premium on quality or location.
In Q2 2025, contract signings rose to 551 from 538 in Q2 2024, with median days on market (DOM) slightly increasing to 54 days.
BROOKLYN STUDIOS
CONDO MARKET - STUDIOS
Studio contracts slightly increased with 24 signings up from 22, though DOM decreased to 56 days from 67.
ONE BEDROOMS
CONDO MARKET - 1 BEDROOMS
1-bed signings stayed relatively stable with 154 contracts vs 156, maintaining a median DOM of 54.
Prices for 1-bed units fell to $710K from $836K, with PPSF also dropping to $1,061 from $1,153.
CONDO MARKET - 2 BEDROOMS
2-bed contracts held steady at 249, with a slight increase in DOM from 49 to 52.5 days.
Median prices for 2-bed condos increased slightly to $1.2M from $1.2M, while PPSF decreased to $1,111 from $1,172.
CONDO MARKET - 3 BEDROOMS
Contract activity for 3-bed units increased to 110 from 99, with DOM extending to 60 from 49 days.
CONDO MARKET - 4 BEDROOMS
4-bed contracts rose slightly to 14 from 12, with a notable improvement in DOM to 49 days from 80.5.
Median 4-bed prices decreased significantly to $2.3M from $2.8M, accompanied by a decline in PPSF to $1,100 from $1,292.
CO-OP MARKET REPORT
In Brooklyn's co-op market, the count of contracts signed increased to 367 from 325 compared to last year, while the median days on market (DOM) rose slightly to 43 from 37 days, suggesting robust demand but slightly longer sales cycles.
The median recorded sale price for Brooklyn co-ops increased to $494,500 from $473,125 year-over-year, with a rise in the price per square foot (PPSF) from $475 to $510, indicating solid growth in property values.
BROOKLYN STUDIOS
CO-OP MARKET - STUDIOS
Studio contracts saw a small increase with 41 signed compared to 37 last year, and median DOM remained consistent at 61.5 days, reflecting steady interest and consistent demand.
The median sale price of studios jumped significantly to $384K from $290K, with PPSF rising to $538 from $480, highlighting strong price appreciation.
ONE BEDROOMS
CO-OP MARKET - 1 BEDROOMS
The 1-bedroom co-ops experienced growth with 145 contracts signed up from 131, while the median DOM increased to 42.5 days from 36, indicating healthy demand but longer decision times.
For 1-bedroom units, the median price increased to $425K from $402,137, with PPSF growing to $465 from $449, signaling strong market support for these units.
TWO BEDROOMS
CO-OP MARKET - 2 BEDROOMS
Contracts for 2-bedrooms rose to 133 from 123, with the median DOM increasing to 42 from 35, suggesting continued interest with slightly extended time to close deals.
There was a significant rise in the median sale price for 2-bedrooms to $699,500 from $569,000, and PPSF increased to $550 from $494, reflecting heightened value perception.
CO-OP MARKET - 3 BEDROOMS
3-bedroom contracts expanded to 40 from 33, and with DOM stable at 36.5 days, this indicates stronger demand and efficient processing.
The median sale price for 3-bedrooms surged to $1.78M from $1.505M, with PPSF increasing notably to $1,113 from $671, suggesting a premium on larger spaces.
CO-OP MARKET - 4 BEDROOMS
Contracts for 4-bedroom apartments dramatically increased to 8 this year from 1 last year, with median DOM recorded at 47.5 days, highlighting a rare growth in interest for larger living spaces.
4-bedroom units saw a steep increase in median sale price to $3.325M from $2.2M; however, PPSF saw a decline from $1,625 to $951, indicating diverse influences on market valuation.
In the current period for townhouses in Brooklyn, we observed a 17% increase in contracts signed compared to the prior year, with a noticeable lengthening in the median days on market from 51 to 70 days, indicating a slower market pace.
For recorded sales, the median sale price in Brooklyn's townhouse market rose by 10% to $1.15M compared to the prior year, with the price per square foot also increasing from $539 to $580, reflecting higher valuations.
Anil Jintoorkar
Associate Real Estate Broker | Douglas Elliman |
O: 516 669 5615
anil jintoorkar@elliman com
BROOKLYN REAL ESTATE QUARTERLY MARKET SNAPSHOT
The Brooklyn real estate market shows varied trends across different segments during Q2 2025, signaling distinct market directions
Marketwide
Overall, the market exhibited robust growth with contracts signed increasing by 25.10% and the dollar volume rising by 28 71% The average sale price edged up by 2.89% even though the average price per square foot (PPSF) saw a slight decline
New Development
New Development faced challenges with contracts signed dropping 23.70% and the dollar volume decreasing by 20 86% However, the average price showed resilience, increasing by 3.72%.
Luxury ($4M+)
The luxury segment thrived, seeing a 37 21% increase in contracts signed and a significant 40 40% increase in dollar volume The average PPSF rose by 2 45%, affirming robust demand in high-end properties
Resale Condo
The resale condo market displayed strong growth, with a 36 86% rise in contracts signed and a 35 07% boost in dollar volume. Although the average PPSF
saw a marginal decline of 1 25%, the overall assessment is positive
Resale Co-op
Resale co-ops outperformed with contracts signed surging by 55.17% and dollar volume by an impressive 77.58%. The average price rose by 14.44%, highlighting significant demand
Single-Family
Single-family homes saw modest growth, with contracts signed rising by 4 21% and a small increase in dollar volume The average PPSF experienced a 7.01% uptick.
Multi-Family
This segment was dynamic, with a dramatic 96 81% rise in contracts signed and an even higher increase in dollar volume by 125 75% The average price appreciated by 14 70%, marking noteworthy interest in multi-family properties
Overall, the market illustrates varying dynamics with luxury and multi-family markets demonstrating particular strength.
Source: Marketproof | For informational purposes only, data from entities deemed reliable, but may contain errors, omissions, or changes without notice
3,719
Sales
Source: Marketproof | For informational purposes only, data from entities deemed reliable, but may contain errors, omissions, or changes without notice
NEW DEVELOPMENT
Source: Marketproof | For informational purposes only, data from entities deemed reliable, but may contain errors, omissions, or changes without notice
Source: Marketproof | For informational purposes only, data from entities deemed reliable, but may contain errors, omissions, or changes without notice
Source: Marketproof | For informational purposes only, data from entities deemed reliable, but may contain errors, omissions, or changes without notice
Source: Marketproof | For informational purposes only, data from entities deemed reliable, but may contain errors, omissions, or changes without notice
Source: Marketproof | For informational purposes only, data from entities deemed reliable, but may contain errors, omissions, or changes without notice
Source: Marketproof | For informational purposes only, data from entities deemed reliable, but may contain errors, omissions, or changes without notice