Sheepshead Bay

The median sale price in Sheepshead Bay is $753K. Condos sit at a median of $450K and co-ops at $245K. Sale prices are up 13.2% year over year.

No. The median sale price in Sheepshead Bay is currently 17.6% below the 5-year high recorded in December 2024. That gap can favor buyers searching for value relative to the neighborhood's past peak.

Sale listings in Sheepshead Bay have a median of 90 days on market. That is 13 days faster than the same point a year ago. Roughly 10.2% of active listings have recorded a price cut, suggesting some negotiating room.

Sheepshead Bay is broadly balanced right now, with median days on market at 90 days and 10.2% of active listings carrying a price cut. Pricing depends heavily on the specific building and unit.

Sheepshead Bay offers both co-ops and condos. Condos are the higher-priced segment at a $450K median, with co-ops at $245K.

Roughly 48 homes change hands each month in Sheepshead Bay across condos, co-ops, and townhouses, based on recorded closed sales. That benchmark helps gauge how quickly the market is absorbing new inventory.

The overall median asking rent in Sheepshead Bay is $3,000/month. Rents are up 9.1% year over year.

Median asking rent in Sheepshead Bay is currently $26 below the 5-year high set in December 2023. Tenants may find slightly more value than at peak, though the gap can close quickly during peak leasing season.

Median asking rent in Sheepshead Bay has risen 66.6% over the past 5 years. That puts the neighborhood in context with longer-term NYC rent dynamics rather than just one-year noise.

Within walking or short-transit distance of Sheepshead Bay, median sale prices range across Gravesend at $975K, Manhattan Beach at $575K, Brighton Beach at $543K, Coney Island at $490K. Each has different building stock, co-op vs condo mix, and transit access, so the right comparison depends on the buyer's priorities.

Sheepshead Bay is served by the Bus service. The commute to Midtown Manhattan runs roughly 171 minutes from Nearest bus stop.

Under the FARE Act in effect since August 2024, NYC landlords who engage a broker pay the broker fee directly rather than passing it to tenants. In neighborhoods like Sheepshead Bay, this has shifted some smaller landlords toward self-listing, which has tightened the supply of agent-listed rentals citywide and lifted competition for what remains on market.

Milton Coste is a Licensed Real Estate Associate Broker with Keller Williams New York City. He has 25+ years of experience across all five boroughs, with deep transaction history in co-op board packages, condo offerings, townhouse sales, and rentals. Direct: (917) 416-7433. Email: [email protected].