$10,000 Closing Credit*
$1,500,000
5,250 SqFt
11 Beds
•6 Full Baths
#488082, Listing Office: Keller Williams Realty Empire
Is Bay Ridge, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Bay Ridge has remained a Buyer's Market.
Key Takeaway
Bay Ridge is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Bay Ridge, NY
How much do homes in Bay Ridge, NY cost?
Median Sold Price
$995,333
$552/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$10,333(+1.0%)
Key Takeaway
Homes in Bay Ridge have sold for 1% more than they did a year ago.
Summary: The median home sold price in Bay Ridge was $995,333 in November 2024, up 1% from last year, and the median price per square foot was $552.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $332.2K | $335K | +0.8% |
| 2 Bedrooms | $470K | $457.5K | -2.7% |
| 3 Bedrooms | $1.1M | $1.1M | -0.6% |
| 4 Bedrooms | $1.4M | $1.3M | -8.8% |
| 5+ Bedrooms | $1.4M | $1.5M | +5.3% |
Summary: Bay Ridge housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.8%, 2 bedroom homes decreased by 2.7%, 3 bedroom homes decreased by 0.6%, 4 bedroom homes decreased by 8.8%, and 5+ bedroom homes increased by 5.3%.
Median Sold Price Compared To Nearby Neighborhoods
| Dyker Heights | $1.1M | $1.2M | +3.4% |
| New Utrecht | $993K | $1.0M | +2.2% |
| Bay Ridge | $985K | $995.3K | +1.0% |
| Fort Hamilton | $545K | $515K | -5.5% |
Housing Supply in Bay Ridge, NY
How many homes are available in Bay Ridge, NY?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 155 | 139 | -10.3% |
Summary: The Bay Ridge real estate market had 139 homes for sale in November 2024, a 10.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 46 | 43 | -6.5% |
| 2 Bedrooms | 21 | 18 | -14.3% |
| 3 Bedrooms | 25 | 18 | -28.0% |
| 4 Bedrooms | 19 | 18 | -5.3% |
| 5+ Bedrooms | 44 | 42 | -4.5% |
Summary: The Bay Ridge housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 6.5%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes decreased by 28%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes decreased by 4.5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 14 | 19 | +35.7% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bay Ridge, you may be able to get a good deal. 63.2% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in Bay Ridge in November 2024, up by 35.7% month-over-month. Of the 19 sold homes, 63% were sold under asking, 26% were sold at asking, and 11% were sold over asking.
Days on Market for Bay Ridge, NY
How long does it take to sell a home in Bay Ridge, NY?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 79 Days | 183 Days | +130.7% |
Summary: Homes in Bay Ridge had an average of 183 days on market in Nov 2024, up by 130.7% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Bay Ridge are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 19 homes were sold in Bay Ridge; 0% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 47% of homes were sold over 90 days.
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