Is Bay Terrace, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Bay Terrace was a Seller's Market.
Key Takeaway
Bay Terrace is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Bay Terrace, NY
How much do homes in Bay Terrace, NY cost?
Median Sold Price
$562,500
$609/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Bay Terrace have sold for 4.5% less than they did a year ago.
Summary: The median home sold price in Bay Terrace was $562,500 in March 2024, down 4.5% from last year, and the median price per square foot was $609.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $520K | $498K | -4.2% |
| 2 Bedrooms | $611.2K | $650K | +6.3% |
| 3 Bedrooms | $785.5K | $752.5K | -4.2% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | $1.6M | $1.8M | +9.1% |
Summary: Bay Terrace housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.2%, 2 bedroom homes increased by 6.3%, 3 bedroom homes decreased by 4.2%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 9.1%.
Median Sold Price Compared To Nearby Neighborhoods
| Northeastern Queens | $733.8K | $717.8K | -2.2% |
| Bay Terrace | $589K | $562.5K | -4.5% |
| Bayside | $813.3K | $599K | -26.4% |
Housing Supply in Bay Terrace, NY
How many homes are available in Bay Terrace, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 59 | 61 | +3.4% |
Summary: The Bay Terrace real estate market had 61 homes for sale in March 2024, a 3.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 11 | 14 | +27.3% |
| 2 Bedrooms | 37 | 35 | -5.4% |
| 3 Bedrooms | 6 | 6 | 0.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Bay Terrace housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 27.3%, 2 bedroom homes decreased by 5.4%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 10 | +100.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bay Terrace, you may be able to get a good deal. 90% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Bay Terrace in March 2024, up by 100.0% month-over-month. Of the 10 sold homes, 90% were sold under asking, 10% were sold at asking, and 0% were sold over asking.
Days on Market for Bay Terrace, NY
How long does it take to sell a home in Bay Terrace, NY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 104 Days | 87 Days | -16.0% |
Summary: Homes in Bay Terrace had an average of 87 days on market in Mar 2024, down by 16% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Bay Terrace are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 10 homes were sold in Bay Terrace; 20% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 
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