Is Mill Basin, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Mill Basin has remained a Buyer's Market.
Housing Prices in Mill Basin, NY
How much do homes in Mill Basin, NY cost?
Median Sold Price
$817,500
$500/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Mill Basin was $817,500 in May 2024, down 3.8% from last year, and the median price per square foot was $500.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $199K | $207.5K | +4.3% |
2 Bedrooms | $262.5K | $280K | +6.7% |
3 Bedrooms | $700K | $760K | +8.6% |
4 Bedrooms | $1.0M | $947.5K | -10.4% |
5+ Bedrooms | $1.2M | $1.2M | -0.6% |
Summary: Mill Basin housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.3%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 8.6%, 4 bedroom homes decreased by 10.4%, and 5+ bedroom homes decreased by 0.6%.
Median Sold Price Compared To Nearby Neighborhoods
Southeastern Brooklyn | $759.5K | $750K | -1.3% |
Mill Basin | $850K | $817.5K | -3.8% |
Bergen Beach | $900K | $845K | -6.1% |
Georgetown | $842.5K | $778K | -7.7% |
Housing Supply in Mill Basin, NY
How many homes are available in Mill Basin, NY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
59 | 65 | +10.2% |
Summary: The Mill Basin real estate market had 65 homes for sale in May 2024, a 10.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 7 | 7 | 0.0% |
2 Bedrooms | 3 | 5 | +66.7% |
3 Bedrooms | 17 | 18 | +5.9% |
4 Bedrooms | 9 | 10 | +11.1% |
5+ Bedrooms | 23 | 25 | +8.7% |
Summary: The Mill Basin housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 66.7%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 8.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
3 | 8 | +166.7% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Mill Basin in May 2024, up by 166.7% month-over-month. Of the 8 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Mill Basin, NY
How long does it take to sell a home in Mill Basin, NY?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
165 Days | 103 Days | -37.5% |
Summary: Homes in Mill Basin had an average of 103 days on market in May 2024, down by 37.5% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 8 homes were sold in Mill Basin; 13% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.