$10,000 Closing Credit*
$1,490,000
1 Full Bath
#487410, Listing Office: E House Realty & Mgt. Inc.
Is Bay Ridge, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Bay Ridge was a Neutral 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
$990,000
$552/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$27,000(-2.7%)
Key Takeaway
Homes in Bay Ridge have sold for 2.7% less than they did a year ago.
Summary: The median home sold price in Bay Ridge was $990,000 in October 2024, down 2.7% from last year, and the median price per square foot was $552.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $332.5K | $330.5K | -0.6% |
| 2 Bedrooms | $470K | $465K | -1.1% |
| 3 Bedrooms | $1.1M | $1.1M | +2.9% |
| 4 Bedrooms | $1.4M | $1.3M | -9.5% |
| 5+ Bedrooms | $1.4M | $1.5M | +4.5% |
Summary: Bay Ridge housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.6%, 2 bedroom homes decreased by 1.1%, 3 bedroom homes increased by 2.9%, 4 bedroom homes decreased by 9.5%, and 5+ bedroom homes increased by 4.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Dyker Heights | $1.2M | $1.2M | +4.1% |
| New Utrecht | $998K | $1.0M | +1.2% |
| Bay Ridge | $1.0M | $990K | -2.7% |
| Fort Hamilton | $550K | $507.5K | -7.7% |
Housing Supply in Bay Ridge, NY
How many homes are available in Bay Ridge, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 148 | 147 | -0.7% |
Summary: The Bay Ridge real estate market had 147 homes for sale in October 2024, a 0.7% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 46 | 44 | -4.3% |
| 2 Bedrooms | 17 | 17 | 0.0% |
| 3 Bedrooms | 26 | 24 | -7.7% |
| 4 Bedrooms | 18 | 16 | -11.1% |
| 5+ Bedrooms | 41 | 46 | +12.2% |
Summary: The Bay Ridge housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 4.3%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 7.7%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes increased by 12.2%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 21 | 14 | -33.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
3 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. 42.9% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Bay Ridge in October 2024, down by 33.3% month-over-month. Of the 14 sold homes, 43% were sold under asking, 36% were sold at asking, and 21% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 84 Days | 73 Days | -13.0% |
Summary: Homes in Bay Ridge had an average of 73 days on market in Oct 2024, down by 13% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Bay Ridge has remained consistent over time.
Summary: During October 2024, 14 homes were sold in Bay Ridge; 14% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
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