BROOKLYN REAL ESTATE MARKET UPDATE HOMES CONDOS COOPS BEST REAL ESTATE AGENT SERVICES IN BROOKLYN NY

BROOKLYN REAL ESTATE MARKET UPDATE HOMES CONDOS COOPS BEST REAL ESTATE AGENT SERVICES IN BROOKLYN NY

BROOKLYN REAL ESTATE MARKET UPDATE HOMES CONDOS COOPS BEST REAL ESTATE AGENT SERVICES IN BROOKLYN NY

Hi everyone, my name is Max and I am the real estate agent here in Brooklyn New York. This video is about what is going on with Brooklyn New York real estate market, December 28th 2019 Update. I did some research on what was happening in the residential segment of Brooklyn New York real estate market for the last month. These real estate update numbers cover the period from November 28th of 2019th to December 28th of 2019th which is today, when I am making this video Brooklyn Real Estate Agent real estate market update in Brooklyn New York. I want to refresh in your memory what does it mean when you hear from a real estate agent about Brooklyn New York buyer’s or seller’s real estate market. So, let’s go to basics. Seller’s Brooklyn New York real estate market refers to the Brooklyn real estate market condition when there are more buyers than properties ( Homes , Houses , Condos and Coops ) for sale in Brooklyn New York. Buyer’s Brooklyn New York real estate market refers to completely opposite situation when there are more Brooklyn New York Properties ( Home , House , Condo , Coop ) for sale than actively looking buyers in Brooklyn New York real estate market are looking to buy real estate ( Home , House, Condominium , Coop ) in Brooklyn New York. How do you calculate what is the Brooklyn New York real estate market condition now? Is it the Brooklyn New York Seller’s real estate market or the Brooklyn New York Buyer’s real estate market? The formula is very simple. All we need to do is to calculate how many Brooklyn New York properties ( Homes , Houses, Condos , Coops ) are currently for sale on Brooklyn New York real estate market and how many properties ( Homes Houses , Condos , Coops ) were sold in the last 30 days on Brooklyn New York real estate market. In this formula the neutral Brooklyn New York real estate market state is when number of Brooklyn real estate properties (Home , House , Condo , Coop ) sold in the last 30 days period equals to 1 sixth part of all active Brooklyn New York real estate properties ( House, Coop , Condo , Home ) for sale on Brooklyn New York real estate market today.
1 Family Homes: Currently we have 484 properties for sale. In the last 30 days 67 1 family homes were sold. 49 1 family homes expired as of left market unsold and 19 1 family homes were withdrawn from the market by owners of those homes for unknown reasons. Based on these numbers we have 7,2 months supply of 1 family homes for sale in Brooklyn as of today. 7,2 months supply is the buyer’s market, not to the extreme, but still, buyer’s market.
Multi Family Homes: Currently we have 733 properties for sale. In the last 30 days 80 Multi family homes were sold. 83 Multi family homes expired as of left market unsold and 32 Multi family homes were withdrawn from the market by owners of those homes for unknown reasons. Based on these numbers we have 9,2 months supply of Multi family homes for sale in Brooklyn as of today. 9,2 months supply is the serious buyer’s market.
Condominiums: Currently we have 342 properties for sale. In the last 30 days 33 Condominiums were sold. 42 Condominiums expired as of left market unsold and 10 Condominiums were withdrawn from the market by owners of those Condos for unknown reasons. Based on these numbers we have 10,4 months supply of Condominiums for sale in Brooklyn as of today. 10,4 months supply is the really serious buyer’s market, close to extreme.
Coops: Currently we have 304 properties for sale. In the last 30 days 41 Coops were sold. 38 Coops expired as of left market unsold and 14 Coops were withdrawn from the market by owners of those Coops for unknown reasons. Based on these numbers we have 7,4 months supply of Coops for sale in Brooklyn as of today. 7,4 months supply is the buyer’s market, not to the extreme, but still, buyer’s market.
Finally I will give combined numbers for the whole Residential Brooklyn real estate market as of today:
We have 1,863 properties for sale, 221 properties were sold in the last 30 days, 212 properties expired as of left market unsold and 75 Properties were withdrawn from the market by owners of those Properties for unknown reasons. Based on these numbers we have 8,4 months supply of Properties for sale in Brooklyn as of today. 8,4 months supply is the really serious buyer’s market, not extreme, but serious. It will take a long time to sell a Property in Brooklyn in current market, unless you are willing to lower the asking price to beat your competition.
I excluded Pending and Under Contract properties from this update, because those properties can swing any way and either get sold or come back to market.
That is all about current real estate market update as of today December 28th of 2019th.
If you have any questions or concerns feel free to contact me for FREE no obligation no strings attached consultation.
Real Estate Agent
Realtor In Brooklyn -- Maksym Mysak
EXIT Realty Today
347-410-1363
https://www.realtorinbrooklyn.com/