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Brooklyn’s real estate market started 2025 on strong footing, with rising prices across the board despite a slight slowdown in contract activity. Demand for homes remains robust, with price growth reflecting buyers’ confidence in the borough’s long-term value. Here’s a deep dive into the latest trends shaping Brooklyn’s housing market in the new year.

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Market Overview

• Median Sale Price: $1,100,000 (▲ 7.9% MoM | ▲ 18.3% YoY)
• Average Sale Price: $1,373,368 (▲ 2.9% MoM | ▲ 20.5% YoY)
• Average Price Per Square Foot: $903 (▲ 5.2% MoM | ▲ 10.8% YoY)
• Inventory: 3,069 active listings (▲ 2.8% MoM | ▼ 3.9% YoY)
• Contracts Signed: 375 (▼ 16.9% MoM | ▼ 16.3% YoY)

Brooklyn continues to experience upward price momentum, with median and average sale prices reflecting strong demand across different property types. However, a notable dip in contract activity suggests that affordability and market uncertainty may be influencing buyers’ willingness to transact.

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Property Type Breakdown

• Condos: The median sale price remained steady at $1,155,000, with the average price per square foot increasing to $1,211 (▲ 3.7% MoM). However, signed contracts fell by 26.4% MoM, signaling some buyer hesitancy at current price levels.
• Co-Ops: This segment saw notable gains, with the median sale price rising 11.3% MoM to $534,204. Inventory remains low, and despite a minor decline in signed contracts, co-ops are continuing to attract buyers seeking affordability in Brooklyn.
• Houses: Brooklyn townhouses had a strong month, with the average sale price increasing 5.4% MoM to $1,591,843. The median sale price also climbed 6.6% to $1,300,000, showing continued interest in single-family living.

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Sub-Market Insights

• North Brooklyn: Continued strength in pricing but a slight decline in contract activity.
• Northwest Brooklyn: Dominating market share, accounting for 34% of signed contracts.
• South Brooklyn: The most active region, comprising 39% of total transactions.
• East Brooklyn: A smaller segment of the market but showing steady pricing trends.

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Key Takeaways for Buyers & Sellers

• Buyers: Price appreciation continues, but declining contract activity suggests potential room for negotiation in some segments.
• Sellers: Pricing remains strong, particularly in houses and co-ops, but strategic pricing will be essential to attract motivated buyers in a slightly cooling contract market.

Brooklyn’s market remains resilient, balancing price growth with shifting demand patterns. With inventory levels remaining stable and interest in homeownership strong, the coming months will reveal whether buyers push back against rising costs or continue to fuel Brooklyn’s momentum into 2025. Stay tuned for next month’s insights!

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