Is Bay Terrace, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Bay Terrace was a Neutral Market.
Housing Prices in Bay Terrace, NY
How much do homes in Bay Terrace, NY cost?
Median Sold Price
$562,500
$600/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Bay Terrace was $562,500 in May 2024, down 5.4% from last year, and the median price per square foot was $600.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $525K | $485K | -7.6% |
2 Bedrooms | $612.5K | $640K | +4.5% |
3 Bedrooms | $791.5K | $765K | -3.3% |
4 Bedrooms | - | - | N/A |
5+ Bedrooms | $1.7M | $1.8M | +5.9% |
Summary: Bay Terrace housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.6%, 2 bedroom homes increased by 4.5%, 3 bedroom homes decreased by 3.3%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 5.9%.
Median Sold Price Compared To Nearby Neighborhoods
Northeastern Queens | $730.7K | $722.2K | -1.2% |
Bayside | $760K | $750.9K | -1.2% |
Bay Terrace | $594.5K | $562.5K | -5.4% |
Housing Supply in Bay Terrace, NY
How many homes are available in Bay Terrace, NY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
55 | 66 | +20.0% |
Summary: The Bay Terrace real estate market had 66 homes for sale in May 2024, a 20.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 19 | 21 | +10.5% |
2 Bedrooms | 30 | 35 | +16.7% |
3 Bedrooms | 2 | 5 | +150.0% |
4 Bedrooms | 0 | 0 | 0.0% |
5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Bay Terrace housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10.5%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 150%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
3 | 8 | +166.7% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Bay Terrace in May 2024, up by 166.7% month-over-month. Of the 8 sold homes, 100% were sold under asking, 0% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
67 Days | 44 Days | -34.3% |
Summary: Homes in Bay Terrace had an average of 44 days on market in May 2024, down by 34.3% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 8 homes were sold in Bay Terrace; 50% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.