The numbers are in for Brooklyn real estate and there not too much to draw from the numbers this quarter. And that’s not a bad thing! A look at the closed sales for show and average of 2 homes per month selling vs. 3 last year and the same as the previous year. Absorption follow the same trend, lower than last year but almost the same as the previous year. The median shows a consistent number hovering around $300,000 with the exception of 2008. The median in this scenario we would expect to very based the low number of sales per month. So the conclusion on the market trends for Brooklyn….turnover is solid at 10+% which is not bad for the market we are in and the units sold are close to the last three years. It could be better and it could be worse. Overall it is one of the better performing neighborhoods.

Closed Home Sales

Market Turnover Rate

Median Price