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What Is The Average 2 Family Home Worth In Babylon NY?

This was a question asked of me today via email. It is a great question but the answer isn't cut and dry.

Babylon NY has an eclectic mix of homes. There are new construction, historic, waterfront, bay front, etc. Location and condition also matter as always.

I did a search of sold 2 family homes in Babylon NY in the Babylon Village School District since January, 2011 and here are the results:

Four, 2 family homes closed in 2011. The average sold price: $615,500 that number is skewed because this home is in the mix: 55 The Crescent - Babylon NY

What a beauty!

But, million dollar homes do not sell regularly in Babylon NY. So, when I take that home out, the average 2 family home in Babylon NY sold for: $395,667 with an average of 67 days on the market.

Again, it all depends upon the home's condition, location, type of home, bedroom and room count, property size, basement or no basement. The list is almost endless.

The best way to find out what your Babylon NY 2 family home is worth, you need a Market Analysis from a Realtor(R). In case you haven't figured it out, that would be me!

Babylon Village Housing Market For 2011 - Median Sales Price History Since 2007

Overall, the Babylon Village housing market is up 4.65% since the first quarter of 2007.

From January 2011 to December 2011, the Babylon Village housing market is down 3.01%. That is not bad at all. Some towns within the Town of Babylon are down by 6% and higher.

2011 didn't fluctuate all that much for Babylon Village. If the quarterly numbers stay fairly tight, then maybe 2012 will be the year for stability for the Babylon Village housing market. Babylon Village will see a seller's market quicker than other towns within the Town of Babylon. That probably won't happen for a few years though.

56 homes sold in 2011 in Babylon Village. Sold prices range from $200,000 to $1,275,000. The median sold price: $459,000. List price to sold price ratio average: 5.49%. Average property taxes: $12,879. Average days on the market: 109

Every quarter I update the chart so come back in the beginning of April to get the first quarter stats for the Babylon Village housing market!

Babylon NY Homes Under Contract/Pending - September 2011

Pending home sales for Babylon Village in 2011 compared to 2010 for the most part stayed consistent.

Babylon NY pending home sales for the 3rd Quarter 2011:

15 homes went under contract in the 3rd quarter of 2011. The lowest price home was listed at $256,000 and sold for $265,000. It is on Cadman Avenue in Babylon Village. It was on the market for 49 days. The list price to sold price ratio: -3.5%. Don't get all excited about the ratio. That is not the norm. In a seller's market it would be but not right now. Maybe in 2012 we will see more stabilization in Babylon Village. It's going to be at least another few years for a seller's market to show it's face in Babylon Village.

The highest price home was listed at $1.2M and sold for $1.177M. See, even million dollar homes in Babylon Village do not go for much less than asking price as you may think. This home is on Christopher Court in Babylon Village. It was on the market for 412 days. It was originally listed for $2.1M. Obviously that didn't work out. The list price to sold price ratio: 1.9% And the buyer paid cash.

The majority of the homes that went under contract in Babylon Village were priced between $380K and $399K.

Currently, there are 65 homes on the market in Babylon Village. The lowest priced home is $149,000 and the highest priced home is $2.8M.

If it were a seller's market in Babylon Village, more homes would sell in relation to the amount of homes coming onto the market (new listings).

Call me today (631) 703-0201 to find out what your Babylon Village home is worth in today's market.

**All data herein is provided by the Multiple Listing Service of Long Island**

Babylon NY Housing Market - Median Sold Price 3rd Quarter 2011

So here I am, working on the stats for the Babylon NY housing market and realized............where in the world did the time go? Thanksgiving is seven weeks away. It will be here before we know it!

The housing market for Babylon NY has been faring quiet well. The second quarter took a little dip compared to the first quarter but not horrendous at all. The third quarter did much better than the second quarter with a median sold price of $490,000. So far, the Babylon NY housing market seems to be stabilizing.

We really need to see how the numbers are by the end of the first quarter of 2012 to determine a full stabilized market. Consistency is key here. Once that happens, I will be watching the Babylon NY housing market stats month by month and quarter by quarter to see when the market will start to increase. Keep in mind, do not expect a seller's market for at least another year or two.

If you have been considering selling your Babylon NY home, call me today (631) 703-0201 for a competitive market analysis. As always, there is never any obligation on your part.

Babylon NY Sold Properties as of 9/18/11

Three homes sold in Babylon NY during period ending 9/18/11:

107 Annuskemunnica Road Babylon NY This two bedroom waterfront ranch home in Babylon Village was listed for $339,000 and sold for $325,000. On the market for 181 days. Price History: $379,000, $359,000, $339,000.

429 Midwood Road Babylon NY This four bedroom Colonial home in Babylon Village was listed for $519,000 and sold for $507,000. On the market for 43 days. Price History: $539,000, $525,000, $519,000.

16 Wyandanch Avenue Babylon NY - This five bedroom Farm Ranch in Babylon Village also in the Indian section of Babylon NY, was listed for $639,000 and sold for $630,000. On the market for 29 days. There is no price history given the fact that there was not a need for a price reduction. That is how real estate is done!

Babylon Village NY Homes For Sale:
Currently, there are 65 homes for sale in Babylon Village. Prices range from $149,000 to $2.995M

Babylon Village covers the Babylon NY School District only. Babylon NY covers the West Babylon School District and the North Babylon School District.

Search Babylon NY Homes for sale below: