BROOKLYN MARKET UPDATE Q3 2022
The Brooklyn real estate market saw a year over year and quarter over quarter decrease in number of sales, number of new listing, and average price per square foot. Total inventory was up 46% compared with Q2 of 2022. There were 1,355 sales in the second quarter, a 21% quarter over quarter decrease and a 26% year over year decrease, while contracts signed were down 36% quarter over quarter and down 10% year over year. The average median listed price was $693,211, down 5% from Q2 of 2022.
SALES 1,825
CONTRACTS SIGNED
1,713 1,355
Q3 2021
Q2 2022
Q3 2022
$832,849
1,567 1,107
Q3 2021
MEDIAN LISTED PRICE $730,000
$693,211
Q2 2022
Q3 2022
1,002
Q2 2022
Q3 2022
Q3 2021
26%
21%
9%
36%
17%
5%
Year over Year
Quarter over Quarter
Year over Year
Quarter over Quarter
Year over Year
Quarter over Quarter
AVERAGE PRICE PER SF $1,077
$967
NUMBER OF NEW LISTINGS 2,697
Q3 2021
Q2 2022
8,208
$903 1,303
Q3 2022
Q3 2021
TOTAL INVENTORY 5,208
1,299
Q2 2022
Q3 2022
3,577
Q3 2021
Q2 2022
Q3 2022
16%
7%
0%
52%
37%
46%
Year over Year
Quarter over Quarter
Year over Year
Quarter over Quarter
Year over Year
Quarter over Quarter
©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