$5,807 Closing Credit*
$489,000
1,250 SqFt
3 Beds
•1 Full Bath, 1 Partial
#488024, Listing Office: J. Sikar Realty
Is Coney Island, 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, Coney Island has remained a Buyer's Market.
Key Takeaway
Coney Island is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Coney Island, NY
How much do homes in Coney Island, NY cost?
Median Sold Price
$450,000
$442/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$10,000(+2.3%)
Key Takeaway
Homes in Coney Island have sold for 2.3% more than they did a year ago.
Summary: The median home sold price in Coney Island was $450,000 in November 2024, up 2.3% from last year, and the median price per square foot was $442.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $315K | $322.5K | +2.4% |
| 2 Bedrooms | $440K | $450K | +2.3% |
| 3 Bedrooms | $637K | $598.7K | -6.0% |
| 4 Bedrooms | $650K | $650K | 0.0% |
| 5+ Bedrooms | $585K | $1.3M | +124.4% |
Summary: Coney Island housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.4%, 2 bedroom homes increased by 2.3%, 3 bedroom homes decreased by 6%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 124.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Brighton Beach | $525K | $615K | +17.1% |
| Southern Brooklyn | $586.8K | $604.2K | +3.0% |
| Coney Island | $440K | $450K | +2.3% |
| Gravesend | $850K | $855K | +0.6% |
Housing Supply in Coney Island, NY
How many homes are available in Coney Island, NY?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 70 | 56 | -20.0% |
Summary: The Coney Island real estate market had 56 homes for sale in November 2024, a 20.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 19 | 13 | -31.6% |
| 2 Bedrooms | 22 | 19 | -13.6% |
| 3 Bedrooms | 18 | 15 | -16.7% |
| 4 Bedrooms | 3 | 1 | -66.7% |
| 5+ Bedrooms | 8 | 8 | 0.0% |
Summary: The Coney Island housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 31.6%, 2 bedroom homes decreased by 13.6%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes decreased by 66.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 8 | 5 | -37.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Coney Island, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Coney Island in November 2024, down by 37.5% month-over-month. Of the 5 sold homes, 80% were sold under asking, 0% were sold at asking, and 20% were sold over asking.
Days on Market for Coney Island, NY
How long does it take to sell a home in Coney Island, NY?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 66 Days | 163 Days | +145.3% |
Summary: Homes in Coney Island had an average of 163 days on market in Nov 2024, up by 145.3% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Coney Island are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 5 homes were sold in Coney Island; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
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