Is Shelter Island, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Shelter Island is a neutral's market

Buyer's
Market

Difference Since Last Month

Last month, Shelter Island was a Buyer's Market.

Key Takeaway

Shelter Island 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 Shelter Island, NY

How much do homes in Shelter Island, NY cost?

Median Sold Price

$2,162,500

$931/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

+$462,500(+27.2%)

Key Takeaway

Homes in Shelter Island have sold for 27.2% more than they did a month ago.

Summary: The median home sold price in Shelter Island was $2,162,500 in October 2024, up 27.2% from last month, and the median price per square foot was $931.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 $999.9K-
N/A
3 $1.8M$2.0M
+9.6%
4 -$2.1M
N/A
5+ --
N/A

Summary: Shelter Island housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 9.6%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in Shelter Island, NY

How many homes are available in Shelter Island, NY?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2724-11.1%

Summary: The Shelter Island real estate market had 24 homes for sale in October 2024, a 11.1% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 21
-50.0%
3 119
-18.2%
4 99
0.0%
5+ 44
0.0%

Summary: The Shelter Island housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes decreased by 18.2%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
34+33.3%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Shelter Island, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in Shelter Island in October 2024, up by 33.3% month-over-month. Of the 4 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Shelter Island, NY

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

Average Sale Time

Sep 2024Oct 2024CHANGE
93 Days223 Days+138.9%

Summary: Homes in Shelter Island had an average of 223 days on market in Oct 2024, up by 138.9% compared to last month.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Shelter Island are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During October 2024, 4 homes were sold in Shelter Island; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% 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 1 Day Ago

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