Sheffield's real estate market is experiencing a price correction, with values down 38.3% from last year. Home prices have increased 3.9% in the past month alone. With 3.4 months of supply, Sheffield's inventory levels remain relatively tight. Transaction volume is up 117% compared to what's typically expected this time of year. A significant 36.4% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 15.4% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Sheffield market with the affordability index at 92.5. Looking ahead, the Sheffield market is expected to maintain its current trajectory with relatively stable conditions.