Is Sheepshead Bay, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Sheepshead Bay has remained a Buyer's Market.
Housing Prices in Sheepshead Bay, NY
How much do homes in Sheepshead Bay, NY cost?
Median Sold Price
$400,000
$407/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Sheepshead Bay was $400,000 in May 2024, up 8.8% from last year, and the median price per square foot was $407.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $258.5K | $230K | -11.0% |
2 Bedrooms | $329K | $336K | +2.1% |
3 Bedrooms | $755K | $770K | +2.0% |
4 Bedrooms | $927.5K | $960K | +3.5% |
5+ Bedrooms | $1.1M | $1.1M | +5.6% |
Summary: Sheepshead Bay housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11%, 2 bedroom homes increased by 2.1%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 5.6%.
Median Sold Price Compared To Nearby Neighborhoods
Sheepshead Bay | $367.5K | $400K | +8.8% |
Brighton Beach | $560K | $577.5K | +3.1% |
Gerritsen Beach | $560K | $570K | +1.8% |
Southern Brooklyn | $621.1K | $586.4K | -5.6% |
Housing Supply in Sheepshead Bay, NY
How many homes are available in Sheepshead Bay, NY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
171 | 177 | +3.5% |
Summary: The Sheepshead Bay real estate market had 177 homes for sale in May 2024, a 3.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 37 | 35 | -5.4% |
2 Bedrooms | 66 | 68 | +3.0% |
3 Bedrooms | 38 | 41 | +7.9% |
4 Bedrooms | 9 | 11 | +22.2% |
5+ Bedrooms | 21 | 22 | +4.8% |
Summary: The Sheepshead Bay housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 5.4%, 2 bedroom homes increased by 3%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes increased by 4.8%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
14 | 17 | +21.4% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 17 homes were sold or pending in Sheepshead Bay in May 2024, up by 21.4% month-over-month. Of the 17 sold homes, 94% were sold under asking, 6% were sold at asking, and 0% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
70 Days | 134 Days | +92.6% |
Summary: Homes in Sheepshead Bay had an average of 134 days on market in May 2024, up by 92.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Summary: During May 2024, 17 homes were sold in Sheepshead Bay; 6% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 59% of homes were sold over 90 days.