$10,000 Closing Credit*
$888,000
3 Beds
•2 Full Baths, 2 Partial
Listing Office: Keystone Realty USA Corp
Is Sheepshead Bay, 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, Sheepshead Bay was a Neutral Market.
Key Takeaway
Sheepshead Bay is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Sheepshead Bay, NY
How much do homes in Sheepshead Bay, NY cost?
Median Sold Price
$380,000
$411/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$35,000(+10.1%)
Key Takeaway
Homes in Sheepshead Bay have sold for 10.1% more than they did a year ago.
Summary: The median home sold price in Sheepshead Bay was $380,000 in October 2024, up 10.1% from last year, and the median price per square foot was $411.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $249.9K | $247.5K | -1.0% |
| 2 Bedrooms | $295K | $318K | +7.8% |
| 3 Bedrooms | $730K | $790K | +8.2% |
| 4 Bedrooms | $990K | $950K | -4.0% |
| 5+ Bedrooms | $1.1M | $1.2M | +8.3% |
Summary: Sheepshead Bay housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1%, 2 bedroom homes increased by 7.8%, 3 bedroom homes increased by 8.2%, 4 bedroom homes decreased by 4%, and 5+ bedroom homes increased by 8.3%.
Median Sold Price Compared To Nearby Neighborhoods
| Homecrest | $480K | $645K | +34.4% |
| Brighton Beach | $510K | $610K | +19.6% |
| Sheepshead Bay | $345K | $380K | +10.1% |
| Southern Brooklyn | $601.6K | $590K | -1.9% |
| Gerritsen Beach | $575K | $480K | -16.5% |
Housing Supply in Sheepshead Bay, NY
How many homes are available in Sheepshead Bay, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 205 | 199 | -2.9% |
Summary: The Sheepshead Bay real estate market had 199 homes for sale in October 2024, a 2.9% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 53 | 55 | +3.8% |
| 2 Bedrooms | 63 | 59 | -6.3% |
| 3 Bedrooms | 59 | 54 | -8.5% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 22 | 23 | +4.5% |
Summary: The Sheepshead Bay housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 3.8%, 2 bedroom homes decreased by 6.3%, 3 bedroom homes decreased by 8.5%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 4.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 19 | 16 | -15.8% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sheepshead Bay, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in Sheepshead Bay in October 2024, down by 15.8% month-over-month. Of the 16 sold homes, 75% were sold under asking, 13% were sold at asking, and 13% were sold over asking.
Days on Market for Sheepshead Bay, NY
How long does it take to sell a home in Sheepshead Bay, NY?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 122 Days | 137 Days | +12.4% |
Summary: Homes in Sheepshead Bay had an average of 137 days on market in Oct 2024, up by 12.4% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Sheepshead Bay are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 16 homes were sold in Sheepshead Bay; 13% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 44% of homes were sold over 90 days.
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