Jan 18, 2017

Brooklyn Monthly Market Report | December 2016

Market Wide Summary 

December was a very active month for sales in Brooklyn, with 382 contracts signed, the highest figure for the month of December in over 5 years and 18% higher than last December. Listed inventory rose 11% year-over-year, but dropped to the second lowest level since January 2016.

Median sale price experienced double-digit gains over the last month, but experienced only a modest gain over the last year. Average price f ell 8% year-over-year, driven lower by a majority of buyers negotiating the sale price. This month the average price difference from last ask to sale was -2.5%, the lowest point it’s reached since November 2011. Given the increased negotiability in the sale process, days on market was 17% longer than December of last year.

Brooklyn Apartment Listings

Total December listed inventory rose 11% compared to last year, but was down 7% month-over-month. Newly listed inventory, at 313 units, made up 15% of overall inventory and reached its lowest point in a year. Consequentially, overall inventory remains low, at 3% below the 13-month running average.


0 Responses to " Brooklyn Monthly Market Report | December 2016 "

Post a Comment

All related comments are welcome. Spam will be deleted.


This blog site is designed and published as a consumer service by local real estate broker to help Manhattan, New York City buyers, sellers and renters make informed real estate decisions. This site and its feeds are owned and operated by Mitchell J Hall, a NY State licensed real estate associate broker associated with The Corcoran Group and member of the Real Estate Board of New York.

Legal Disclaimer - The opinions expressed here are those of the authors and do not neccessarily reflect the opinions or policy of The Corcoran Group. This site is not the official website of The Corcoran Group or its affiliated companies, and neither The Corcoran Group nor its affiliated companies in any way warrant the accuracy of any information contained herein. Any product and/or services offered for sale on this website shall not be considered an offer to sell such goods and/or services in any state other than New York.

Legal Disclaimer - Information on this site is not intended as legal or financial advice. - All material herein is intended for information purposes only and has been complied from sources deemed reliable. Though information is believed to be correct, it is presented subject to errors, omissions, changes or withdrawal without notice. I operate a business that supports Fair Housing.“We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the nation. We encourage and support an affirmative advertising and marketing program which there are no barriers to obtain housing because of race, color, religion, sex, handicap, familiar status or national origin.”

© Copyright 2006 -2016 © nycBLOGestate.com © BlogEstate.nyc Al l Rights Reserved