The Brooklyn Market Pulse indicates a balanced market with a slight lean toward sellers, reflected in a current pulse of 1.3. While the pulse has increased by 2.9 points year-over-year, a recent monthly decline of 0.6 points reflects a typical seasonal cooling trend. We will continue to monitor the trends to best advise you on strategy within the evolving market landscape.
Brooklyn’s Monthly New Supply is 549 listings, down 31.2% from last month and 11.7% compared to last year, while the Rolling Seasonal Average stands at 763, reflecting a 29.9% monthly decline but no year-over-year change. The chart highlights a tightening supply trend, with significant seasonal fluctuations over time. This constrained inventory creates opportunities for sellers to command higher prices and challenges for buyers facing increased competition.
As of November 2024, Brooklyn’s Monthly Contract Activity stands at 535, down 19.3% from the previous month but up 13.6% compared to last year. The Rolling Seasonal Average is 606, reflecting an 8.0% monthly decline and no change year-over-year. These trends highlight seasonal market fluctuations and suggest a recovering demand compared to last year.
Brooklyn Market Pulse
