$1,399,000
Land
#487275, Listing Office: Hometown Properties
Is Gerritsen Beach, 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, Gerritsen Beach was a Neutral Market.
Key Takeaway
Gerritsen Beach is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Gerritsen Beach, NY
How much do homes in Gerritsen Beach, NY cost?
Median Sold Price
$480,000
$356/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$95,000(-16.5%)
Key Takeaway
Homes in Gerritsen Beach have sold for 16.5% less than they did a year ago.
Summary: The median home sold price in Gerritsen Beach was $480,000 in October 2024, down 16.5% from last year, and the median price per square foot was $356.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $198.5K | +7.3% |
| 2 Bedrooms | $287.5K | $450K | +56.5% |
| 3 Bedrooms | $645K | $610K | -5.4% |
| 4 Bedrooms | $765K | $587.5K | -23.2% |
| 5+ Bedrooms | $650K | $595K | -8.5% |
Summary: Gerritsen Beach housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.3%, 2 bedroom homes increased by 56.5%, 3 bedroom homes decreased by 5.4%, 4 bedroom homes decreased by 23.2%, and 5+ bedroom homes decreased by 8.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Southeastern Brooklyn | $735.7K | $763.7K | +3.8% |
| Marine Park | $785K | $790K | +0.6% |
| Southern Brooklyn | $601.6K | $590K | -1.9% |
| Gerritsen Beach | $575K | $480K | -16.5% |
Housing Supply in Gerritsen Beach, NY
How many homes are available in Gerritsen Beach, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 68 | 60 | -11.8% |
Summary: The Gerritsen Beach real estate market had 60 homes for sale in October 2024, a 11.8% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 11 | 11 | 0.0% |
| 2 Bedrooms | 15 | 11 | -26.7% |
| 3 Bedrooms | 35 | 31 | -11.4% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Gerritsen Beach housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 26.7%, 3 bedroom homes decreased by 11.4%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 8 | +166.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Gerritsen Beach, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Gerritsen Beach in October 2024, up by 166.7% month-over-month. Of the 8 sold homes, 75% were sold under asking, 13% were sold at asking, and 13% were sold over asking.
Days on Market for Gerritsen Beach, NY
How long does it take to sell a home in Gerritsen Beach, NY?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 34 Days | 129 Days | +278.8% |
Summary: Homes in Gerritsen Beach had an average of 129 days on market in Oct 2024, up by 278.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Gerritsen Beach are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 8 homes were sold in Gerritsen Beach; 25% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 63% of homes were sold over 90 days.
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