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 buyer's market

Buyer's
Market

Difference Since Last Month

Since last month, Shelter Island has remained a Buyer's Market.

Key Takeaway

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

Housing Prices in Shelter Island, NY

How much do homes in Shelter Island, NY cost?

Median Sold Price

$1,700,000

$1,126/sqft

Based on all homes sold in September 2024.

Difference Since Last Month

-$1,725,200(-50.4%)

Key Takeaway

Homes in Shelter Island have sold for 50.4% less than they did a month ago.

Summary: The median home sold price in Shelter Island was $1,700,000 in September 2024, down 50.4% from last month, and the median price per square foot was $1,126.

Median Sold Price By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 --
N/A
2 -$999.9K
N/A
3 -$1.8M
N/A
4 --
N/A
5+ $3.4M-
N/A

Summary: Shelter Island housing prices by bedroom type for September 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 did not change, 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

Aug 2024Sep 2024CHANGE
2627+3.8%

Summary: The Shelter Island real estate market had 27 homes for sale in September 2024, a 3.8% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 11
0.0%
2 22
0.0%
3 1111
0.0%
4 79
+28.6%
5+ 54
-20.0%

Summary: The Shelter Island housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes decreased by 20%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
13+200.0%

Asking Price vs. Sold Price

3 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 3 homes were sold or pending in Shelter Island in September 2024, up by 200.0% month-over-month. Of the 3 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

Aug 2024Sep 2024CHANGE
46 Days93 Days+102.9%

Summary: Homes in Shelter Island had an average of 93 days on market in Sep 2024, up by 102.9% compared to last month.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 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 September 2024, 3 homes were sold in Shelter Island; 0% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 67% 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 30 Days Ago

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