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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Islip is a buyer's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

Islip is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Islip, NY

How much do homes in Islip, NY cost?

Median Sold Price

$559,994

$327/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$30,729(+5.8%)

Key Takeaway

Homes in Islip have sold for 5.8% more than they did a year ago.

Summary: The median home sold price in Islip was $559,994 in March 2024, up 5.8% from last year, and the median price per square foot was $327.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $240K$275K
+14.6%
2 $410K$420K
+2.4%
3 $510K$540K
+5.9%
4 $575.3K$605K
+5.2%
5+ $603K$634.6K
+5.3%

Summary: Islip housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.6%, 2 bedroom homes increased by 2.4%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 5.3%.

Median Sold Price Compared To Nearby Cities

Smithtown
+6.9%
Islip
+5.8%

Housing Supply in Islip, NY

How many homes are available in Islip, NY?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
835868+4.0%

Summary: The Islip real estate market had 868 homes for sale in March 2024, a 4.0% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 3133
+6.5%
2 9799
+2.1%
3 291303
+4.1%
4 253259
+2.4%
5+ 163174
+6.7%

Summary: The Islip housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6.5%, 2 bedroom homes increased by 2.1%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 6.7%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
137114-16.8%

Asking Price vs. Sold Price

37 Homes Were Sold
Under Asking

18 Homes Were Sold
At Asking

59 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. 51.8% of homes here sold above asking price last month.

Summary: A total of 114 homes were sold or pending in Islip in March 2024, down by 16.8% month-over-month. Of the 114 sold homes, 32% were sold under asking, 16% were sold at asking, and 52% 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

Mar 2023Mar 2024CHANGE
75 Days52 Days-31.0%

Summary: Homes in Islip had an average of 52 days on market in Mar 2024, down by 31% compared to last year.

Breakdown of Home Sale Times

60 Homes Were Sold
Under 30 Days

34 Homes Were Sold
In 30 - 90 Days

20 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 March 2024, 114 homes were sold in Islip; 53% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 18% 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 20 Days Ago

Newest Listings in Islip, NY

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