Is Babylon, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Babylon was a Buyer's Market.
Housing Prices in Babylon, NY
How much do homes in Babylon, NY cost?
Median Sold Price
$711,500
$373/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Babylon was $711,500 in May 2024, up 17.6% from last year, and the median price per square foot was $373.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $400.2K | - | N/A |
2 Bedrooms | $478.5K | $515K | +7.6% |
3 Bedrooms | $625K | $640K | +2.4% |
4 Bedrooms | $599.9K | $829K | +38.2% |
5+ Bedrooms | $724K | $1.0M | +41.6% |
Summary: Babylon housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.6%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 38.2%, and 5+ bedroom homes increased by 41.6%.
Median Sold Price Compared To Nearby Cities
Babylon | $605K | $711.5K | +17.6% |
Islip | $529.6K | $572.1K | +8.0% |
Housing Supply in Babylon, NY
How many homes are available in Babylon, NY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
54 | 65 | +20.4% |
Summary: The Babylon real estate market had 65 homes for sale in May 2024, a 20.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 9 | 12 | +33.3% |
3 Bedrooms | 18 | 21 | +16.7% |
4 Bedrooms | 21 | 24 | +14.3% |
5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The Babylon housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
11 | 10 | -9.1% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Babylon in May 2024, down by 9.1% month-over-month. Of the 10 sold homes, 40% were sold under asking, 10% were sold at asking, and 50% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
55 Days | 200 Days | +263.2% |
Summary: Homes in Babylon had an average of 200 days on market in May 2024, up by 263.2% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 10 homes were sold in Babylon; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.