Is Brooklyn, NY 11238 a buyer’s or seller’s market?
Brooklyn is a seller’s market. With about 1.6 months of supply and 39% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
More competitive than 76% of U.S. ZIP codes, and #353 of 649 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Brooklyn housing market right now
In the three months ending August 31, 2026, 39% of homes in Brooklyn, NY 11238 sold above their list price, the typical home went under contract in 45 days and there were 1.6 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 103 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 36%, homes sold more slowly (38 days then) and the median sale price rose 2% to $1,424,384. Overall, Brooklyn is about as competitive as it was a year ago.
Within Kings County, homes here sell faster than in 78% of the county’s ZIP codes, and sell more often over asking than in 89%. On our competition score, Brooklyn ranks #353 of 649 NY ZIP codes with enough sales (score 72 out of 100).
Nearby, buyers who want less competition could look at Brooklyn 11239 (0% sold over asking) or Brooklyn 11237 (0% sold over asking), while Brooklyn 11215 (49% sold over asking) and Brooklyn 11217 (46% sold over asking) are even more competitive.
Run the numbers for 11238
Nearby markets
Brooklyn 11201Seller’s market $1,355 /sq ftBrooklyn 11203Buyer’s market $432 /sq ftBrooklyn 11204Balanced $685 /sq ftBrooklyn 11205Seller’s market $1,061 /sq ft Browse all markets →Towns like Brooklyn nearby
Find towns like Brooklyn in other states →Where Brooklyn is
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Questions about Brooklyn real estate
Is Brooklyn a buyer’s or seller’s market?
A seller’s market: there were 1.6 months of supply in Brooklyn, NY 11238 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Brooklyn?
The typical home went under contract in 45 days in the latest three months.
Do homes in Brooklyn sell over asking?
39% of homes sold above their original list price, and the typical sale closed at 99.9% of the list price.
What are property taxes in Brooklyn?
About 0.71% of a home’s value a year in Kings County, or roughly $2,840 on a $400,000 home.
What is the median home price in Brooklyn?
The median sale price was $1,424,384 in the three months ending August 31, 2026, about $1,306 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology