Brooklyn, NY 11217 Real Estate Market Report

ZIP Code: 11217
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The median sold price in Brooklyn, NY (ZIP: 11217) stands at $4,830,000, reflecting a robust market despite broader trends suggesting some price softening. The neighborhood has increased up since 2023, indicating a resilient demand for properties in this area. However, the market is characterized by elevated inventory levels, which may suggest a shift towards a more balanced market as buyers have more options available.

With a median days on market of 400, properties are experiencing slower sales velocity, which could be attributed to the elevated interest rate pressure currently affecting the market. The median price per square foot is $1,469.67, reinforcing the high value of real estate in this neighborhood. Overall, while the market temperature remains neutral, the combination of high prices and extended time on the market may create pricing friction for sellers.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Brooklyn, NY are averaging 6.57% as of late March 2026, which is 0.25% higher than the average rate of 6.32% seen in early March 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The median sold price is $4,830,000, indicating a strong market despite broader price softening trends.

2. Properties are taking a median of 400 days on market, suggesting slower sales velocity and potential pricing friction.

3. The median price per square foot is $1,469.67, reflecting high property values in the area.

4. The rental market remains robust with a median market rent of $4,980, showing consistent demand and rent growth.

5. Interest rate pressure is currently elevated, which may impact buyer purchasing power and overall market dynamics.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.