Is Babylon, 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, Babylon was a Seller's Market.
Housing Prices in Babylon, NY
How much do homes in Babylon, NY cost?
Median Sold Price
$699,000
$372/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Babylon was $699,000 in March 2024, up 16.5% from last year, and the median price per square foot was $372.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $402.7K | $395K | -1.9% |
2 Bedrooms | $497K | $515K | +3.6% |
3 Bedrooms | $620K | $627.5K | +1.2% |
4 Bedrooms | $605K | $738K | +22.0% |
5+ Bedrooms | $724K | $999.4K | +38.1% |
Summary: Babylon housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.9%, 2 bedroom homes increased by 3.6%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 22%, and 5+ bedroom homes increased by 38.1%.
Median Sold Price Compared To Nearby Cities
Babylon | $599.9K | $699K | +16.5% |
Islip | $529.2K | $559.9K | +5.8% |
Housing Supply in Babylon, NY
How many homes are available in Babylon, NY?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
43 | 49 | +14.0% |
Summary: The Babylon real estate market had 49 homes for sale in March 2024, a 14.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 6 | 7 | +16.7% |
3 Bedrooms | 18 | 19 | +5.6% |
4 Bedrooms | 12 | 16 | +33.3% |
5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The Babylon housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
6 | 5 | -16.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Babylon in March 2024, down by 16.7% month-over-month. Of the 5 sold homes, 60% were sold under asking, 0% were sold at asking, and 40% were sold over asking.
Days on Market for Babylon, NY
How long does it take to sell a home in Babylon, NY?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
73 Days | 70 Days | -4.1% |
Summary: Homes in Babylon had an average of 70 days on market in Mar 2024, down by 4.1% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 5 homes were sold in Babylon; 20% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.