Is Islip, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Islip is a neutral's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Islip was a Seller's Market.

Key Takeaway

Islip 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 Islip, NY

How much do homes in Islip, NY cost?

Median Sold Price

$554,936

$327/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$26,121(+4.9%)

Key Takeaway

Homes in Islip have sold for 4.9% more than they did a year ago.

Summary: The median home sold price in Islip was $554,936 in February 2024, up 4.9% from last year, and the median price per square foot was $327.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $240K$275K
+14.6%
2 $404K$420K
+4.0%
3 $510K$540K
+5.9%
4 $572.9K$600K
+4.7%
5+ $605K$630K
+4.1%

Summary: Islip housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.6%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes increased by 4.1%.

Median Sold Price Compared To Nearby Cities

Islandia
+14.6%
Smithtown
+6.1%
Islip
+4.9%

Housing Supply in Islip, NY

How many homes are available in Islip, NY?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
819815-0.5%

Summary: The Islip real estate market had 815 homes for sale in February 2024, a 0.5% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 2330
+30.4%
2 9295
+3.3%
3 285277
-2.8%
4 250243
-2.8%
5+ 169170
+0.6%

Summary: The Islip housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 30.4%, 2 bedroom homes increased by 3.3%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes decreased by 2.8%, and 5+ bedroom homes increased by 0.6%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
166125-24.7%

Asking Price vs. Sold Price

43 Homes Were Sold
Under Asking

13 Homes Were Sold
At Asking

69 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Islip, you could pay more than the asking price. 55.2% of homes here sold above asking price last month.

Summary: A total of 125 homes were sold or pending in Islip in February 2024, down by 24.7% month-over-month. Of the 125 sold homes, 34% were sold under asking, 10% were sold at asking, and 55% were sold over asking.

Days on Market for Islip, NY

How long does it take to sell a home in Islip, NY?

Average Sale Time

Feb 2023Feb 2024CHANGE
62 Days42 Days-31.7%

Summary: Homes in Islip had an average of 42 days on market in Feb 2024, down by 31.7% compared to last year.

Breakdown of Home Sale Times

70 Homes Were Sold
Under 30 Days

41 Homes Were Sold
In 30 - 90 Days

14 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Islip are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 125 homes were sold in Islip; 56% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 18 Days Ago

Newest Listings in Islip, NY

Nearby Markets to Islip, NY

What housing markets are near Islip, NY?