Brooklyn supply has been slowly creeping up over the last few weeks. It is up 2.4% since last year at this time.
Buyer demand continues to increase. Contracts signed are up 17.8% month over month and 9.9% year over year. Demand is outpacing supply and putting the Market into a continued Sellers Territory.
Days on market are at an average of 60 days to contract signing, up only about 10 days from last year and down from 82 days in March of this year.
The categories that showed strength had a broad range in sales. Trading was high in listings below $1M all the way up to $15M, with turnkey Townhouses in prime Brooklyn locations moving quickly in the transactions.
Seasonal markets have been replaced. Seasonality still occurs but their impact is not as significant as it was in the past.
Wishing you a great start to the summer!
BROOKLYN CHANGE IN CONTRACTS
