Babylon NY Housing Values for March 2014

By
Real Estate Agent with Douglas Elliman Real Estate in Babylon NY

Babylon NY Housing Values March 2014

by Jackie Connelly-Fornuff with Century 21 AA Realty of Lindenhurst (631) 703-0201

In March 2014, the Babylon NY real estate market median sales price was $361,000 up 8.08%% from March 2013. From January 2014 to March 2014 the median sales price is $370,000.

The highest recent house sale in Babylon NY for 2014 is $875,000 for a 6 bedroom, 11 room Colonial with 4 full bathrooms on Thompson Avenue. Six homes went under contract during March 2014 which is up 100% from this time last year. This is due to decreasing available homes on the market and buyers are experiencing tight negotiating and a colder than normal winter has also played a factor in the decrease of inventory. The Babylon NY housing market has been in a seller’s market for over six months so expect to pay close to or at asking price for a move-in condition home.


Single Family Homes Data
                 

                                                  March 2014              March 2013                  % Change
Median Sold Price                     $361,000                    $334,000                        +8.08%
Average Days on Market           79                                480                                 -83.6%
List Price/Sold Price Ratio         1%                               6%                                  -83.3%
# of Contracts Signed                6                                  3                                    +100%
# of Homes Available                44                                86                                  -48.83%


Call Jackie today (631) 703-0201 to find out what your Babylon NY home is worth in today's real estate market.

Comments (2)

Nick T Pappas
Assoc. Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, Broker/Providence Property Mgmnt, LLC Huntsville AL - Huntsville, AL
Madison & Huntsville Alabama Real Estate Resource

Jackie, we are all hearing stories like this, higher prices, less days on the market and short supply...all things benefiting sellers except that the seller is now buying in this market...just a double edged sword, but a welcome change for many.

Apr 05, 2014 07:02 AM
Jackie Connelly-Fornuff
Douglas Elliman Real Estate in Babylon NY - Babylon, NY
"Moving at The Speed of YOU!"

Hi Nick, and some sellers think that the prices will be like it was on 2005/2006. Not going to happen. For those that want to buy, price their home at market value and stop chasing the market or else they will pay more $ on the buying side. It is a welcomed change Nick! :)

Apr 06, 2014 02:37 AM