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.
Key Takeaway
Babylon 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 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
Key Takeaway
Homes in Babylon have sold for 17.6% more than they did a year ago.
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
Key Takeaway
If you're buying a home in Babylon, you could pay more than the asking price. 50% of homes here sold above asking price last month.
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
Key Takeaway
Many homes in Babylon are selling fast, if you're buying plan to act quickly.
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.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.