BROOKLYN MARKET UPDATE AUGUST 2022
In August, the Brooklyn market saw a slowdown from the previous month. Sales and median listed price were both down 4% month-over-month and 29% and 18% year-over-year, respectively. New listings on the market dropped by 31% but were still up from the previous year by 2%. Contract activity increased by 1% from July, while price per square foot ticked down 3% month-over-month and 17% year-over-year. Inventory also remains low in Brooklyn, with a 7% decrease from July.
SALES
CONTRACTS SIGNED 399
647
Aug 2021
482
462
Jul 2022
Aug 2022
Aug 2021
359
354
Jul 2022
Aug 2022
MEDIAN LISTED PRICE $830,266
$715,835
$684,800
Jul 2022
Aug 2022
Aug 2021
29%
4%
10%
1%
18%
4%
Year over Year
Month over Month
Year over Year
Month over Month
Year over Year
Month over Month
AVERAGE PRICE PER SF $1,081
Aug 2021
NUMBER OF NEW LISTINGS
TOTAL INVENTORY
478 $919
$895
Jul 2022
Aug 2022
3,220 329
321
Aug 2021
Jul 2022
Aug 2022
2,995
2,643
Aug 2021
Jul 2022
Aug 2022
17%
3%
2%
31%
13%
7%
Year over Year
Month over Month
Year over Year
Month over Month
Year over Year
Month over Month
©2022 UMRO Realty Corp., dba The Agency®. Equal Housing Opportunity. All material presented herein is intended for informational purposes only. The sources are deemed to be reliable and the information is believed to be accurate, however the material is subject to errors, omissions, changes, or withdrawal without notice. All measurements and square footage are approximations. No statement is made as to the accuracy of any description. Figures in this report are based on publicly reported data from Automated City Register Information System (ACRIS). CalDRE #01904054