Brooklyn, NY 11223 Real Estate Market Report

ZIP Code: 11223
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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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.

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Key Findings

1. The neighborhood's primary market indicator is the median sold price of 1,409,000, which reflects realized transaction-level value for SFRs and condos and suggests a balanced pricing reference for comparable listings; representative recent sale should guide offer and underwriting conversations.

2. The higher median listing price of 1,575,000 versus the median sold price suggests seller expectations exceed recent closed transactions, so price positioning and concessions may be required to convert interest into offers; pricing gap may require active adjustment for faster traction.

3. The median days on market of 322 signals slower transaction velocity in recent sales and implies sellers should plan for extended marketing windows and targeted staging/improvements to reduce time to contract; pricing friction appears present.

4. Market context shows price year-over-year trend flat and market temperature neutral, while rent year-over-year trend up and interest rate pressure elevated create mixed incentives—consider prioritizing competitively priced, well-marketed listings for sales and leveraging rising rents for investment strategies where financing costs are manageable; elevated interest rate pressure.

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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.

Brooklyn, NY 11223 Real Estate Market Report

ZIP Code: 11223
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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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

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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.

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Key Findings

1. median sold price: $599,000 — Recent transaction activity centers around this representative recent sale price, which suggests market value is stable in the short term; flat price trend supports a neutral pricing environment.

2. median days on market: 444 — Extended days on market indicate slower sales velocity and greater time required to achieve closed transactions, which may suggest pricing friction for properties not tightly priced.

3. median price per square foot: $623 — Elevated price per square foot reflects strong per-unit land/building value in the ZIP and supports seller leverage for well-positioned units; however, this coexists with slower transaction pacing.

4. median market rent: $1,650 and rent trend up — Rents are rising while interest rate pressure is elevated, indicating continued landlord leverage on the income side but increased financing cost sensitivity for buyers; overall market temperature remains neutral, suggesting balanced conditions with selective seller advantages.

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Notable Properties

The following 6 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.