Bay Ridge Real Estate Market Trends

Market Overview for Quarter 1, 2022


Median Sale Price

$425K

-32% YoY


Median Price/Sqft

$658

0% YoY


No. of Transactions

108

-4% YoY

Brooklyn Median Sale Price

$800K

0% YoY

What is the median sale price and median price per sq ft in Bay Ridge?

In Quarter 1, the median home sale price in Bay Ridge was $425K, down 32% year-over-year. There were a total of 108 transactions, representing a 4% drop compared to Quarter 1 last year. The median price per square foot was $658, a 0% YoY change. In Quarter 1, the median home sale price in Brooklyn was $800K.

Bay Ridge Neighborhood Map

Located at the southwest corner of Brooklyn, Bay Ridge is a middle-class neighborhood with plenty of housing and retail and restaurant options. The main commercial strips are along 3rd and 5th avenues and the neighborhood was named the 12th most livable neighborhood in NYC by New York Magazine. Landmarks include the 69th Street Pier and Owl's Head Park.

Bay Ridge Median Sale Price

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Median Sale Price Per Square Feet

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Real Estate Transactions in Bay Ridge

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Top most expensive neighborhoods in Brooklyn

Bay Ridge median price compared with other neighborhoods in Brooklyn

Property values in Bay Ridge are lower compared to the borough of Bay Ridge overall.




Bay Ridge median price compared with all the neighborhoods in Brooklyn

Neighborhood Borough Median Sale Price
Cobble Hill Brooklyn $2,532,500
Red Hook Brooklyn $2,075,000
Carroll Gardens Brooklyn $1,538,915
DUMBO Brooklyn $1,517,500
Gowanus Brooklyn $1,475,000
Fiske Terrace Brooklyn $1,349,500
Boerum Hill Brooklyn $1,345,000
Downtown Brooklyn Brooklyn $1,311,862
Columbia Street Waterfront District Brooklyn $1,250,000
Park Slope Brooklyn $1,241,000
Fort Greene Brooklyn $1,205,000
Brooklyn Heights Brooklyn $1,175,000
Prospect Heights Brooklyn $1,172,500
Williamsburg Brooklyn $1,100,000
Vinegar Hill Brooklyn $1,029,500
Dyker Heights Brooklyn $993,888
Mill Basin Brooklyn $990,000
Manhattan Beach Brooklyn $979,500
Borough Park Brooklyn $932,000
Windsor Terrace Brooklyn $905,000
Bergen Beach Brooklyn $815,000
Greenpoint Brooklyn $806,300
Clinton Hill Brooklyn $799,000
Bedford-Stuyvesant Brooklyn $796,608
Crown Heights Brooklyn $779,000
Marine Park Brooklyn $772,500
Wingate Brooklyn $765,000
Prospect Park South Brooklyn $759,343
Ditmas Park Brooklyn $757,500
Bensonhurst Brooklyn $711,500
Gravesend Brooklyn $700,000
Greenwood Heights Brooklyn $689,500
Madison Brooklyn $660,000
Bushwick Brooklyn $650,000
Flatbush Brooklyn $638,000
Canarsie Brooklyn $615,000
Georgetown Brooklyn $600,000
East New York Brooklyn $560,000
East Flatbush Brooklyn $555,018
Old Mill Basin Brooklyn $552,500
Ocean Hill Brooklyn $537,331
Prospect - Lefferts Gardens Brooklyn $535,000
Brownsville Brooklyn $531,500
Bath Beach Brooklyn $531,500
Gerritsen Beach Brooklyn $525,000
Brighton Beach Brooklyn $524,500
Midwood Brooklyn $507,909
Kensington Brooklyn $499,000
Homecrest Brooklyn $492,000
Sunset Park Brooklyn $486,720
Coney Island Brooklyn $464,000
Flatlands Brooklyn $430,000
Bay Ridge Brooklyn $425,000
Sheepshead Bay Brooklyn $377,500

Residential Properties Sold in Bay Ridge

Property Type Median sale price Y-o-Y Median sale price/sqft Y-o-Y Transactions
Condos $755K -11% $746 -9% 9
Coops $345K -6% $455 -14% 68
Houses $1.2M 12% $787 17% 29

The median house sale price in Bay Ridge in Quarter 1 was $1.2M, up 12% year-over-year. Conversely, median condo prices in Bay Ridge trended down 11% year-over-year to $755K. Median coop sale price in Bay Ridge were $345K, a change of -6% year-over-year.

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Bay Ridge Neighborhood Guide

You will seldom be in conversation with a Bay Ridger long before you hear the words "small town." The southwestern Brooklyn enclave qualifies on most counts - there is a main street (Third Avenue), a human scale to the neighborhood (what qualifies as high-rises in Bay Ridge are six-story apartment buildings) and a relaxed pace of life. The demographics skew towards small town-life as well: an estimated 20 percent of the population are seniors, many being life-long residents. Once a popular destination for newcomers from Norway, the community liked to claim it was the fourth largest Norwegian city in the world. The Norwegians were joined by Italians and Irish a century ago and lately Eastern Europeans, Arabs, Asians and Hispanics have been successfully stirred into the Bay Ridge melting pot. And fittingly, there is a bay - Upper New York Bay - and a ridge, a left-over from the last ice age.

Architecture and landmarks

The area's defining landmark is the Verrazano-Narrows Bridge, which was the world's longest suspension bridge when it planted itself in Fort Hamilton, the southern tip of the Bay Ridge area, in 1964. The residential architecture is rich and varied with everything from Victorian to Mediterranean Revival to free-standing Tudors. From the middle of the 19th century the Greek Revival-style Farrell House still stands and so does St. John's Episcopal Church which Robert E. Lee attended while serving at Fort Hamilton and where his fellow Confederate commander Stonewall Jackson was baptized. The grandest homes lie along Shore Road and peer out over New York Harbor. Although having a less appealing location on Narrows Avenue across from a public high school, perhaps the most celebrated house in Bay Ridge is the fanciful Howard E. and Jessie Jones House, an Arts and Crafts masterwork from 1917 that everyone just knows as the "Gingerbread House."

Transport

The R train reaches all the way out to southwest Brooklyn, with its end stop in the heart of Fort Hamilton, and two express buses, X27 and X37, link Bay Ridge to Manhattan. Estimated travel time to cover the seven miles is between 30 and 45 minutes.

Schools

PS 102 The Bay View and PS 185 Walter Kassenbrock handle students in kindergarten through fifth grade. Mary White Ovington School, PS/IS 30, has classrooms for all grades up to 8th, save for 4th and 5th. Secondary schools include Fort Hamilton High School, the High School of Telecommunication Arts and Technology, and several private institutions.

Health

The healers at SUNY Downstate Medical Center in neighboring Fort Hamilton have been on the job since 1860. It is Brooklyn's only academic medical center combining health education, research and patient care.

Safety

Bay Ridge is under the purview of the 68th Precinct which recorded 7.7 crimes per 1,000 residents in 2015, one of the lowest rates in the city.

Things to do

Think "small-town" activities. Strolling is one. Shore Road Park is perfect for that with a 30-block, two-and-a-half mile waterside path that serves up views towards Manhattan heading north and continues south into Fort Hamilton to Verrazano Bridge. There is room for bicycling and rollerblading as well. And if you are hoofing it you can follow in the footsteps of John Travolta's Tony Manero from Saturday Night Fever - the movie started with him "Stayin' Alive" on 79th Street between Ridge Boulevard and Third Avenue. How about fishing? Just drop a line off the end of the American Veterans Memorial Pier at 69th Street.

Owl's Head Park in the northwest corner of the neighborhood provides a leafy respite for residents, with rolling hills and serpentine walkways. At the southeast corner John Paul Jones Park offers picnic and reflection space under the shadow of the Verrazano Narrows Bridge. The Russell Pedersen Playground has trees and benches and tables for congregating.

As this is a small town, parades are a big thing and there are several during the year, along with a couple of blow-out street fairs. Shopping means mom-and-pop stores, although, as elsewhere in Brooklyn, large chain stores are also making their way onto the main shopping artery - 86th Street. Locally owned and operated commerce also means plenty of unique eating spots to try, with plenty of international choices on the dining-out menu, particularly Middle-Eastern food. Adult refreshment is prevalent in Bay Ridge but the party scene is geared more for seasoned drinkers from the days of Prohibition than for a young party crowd. The older citizens also enjoy the Fort Hamilton Senior Recreation Center with fitness equipment, computers and game rooms.