Real Estate News You Can Use!: New York: Babylon

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!

Argyle Park Babylon Village Photos

I was driving past Argyle Park last week in Babylon Village and noticed how pretty it was. I had to run home and get my camera before I went into the office. Couldn't resist and am glad I did!

Argyle Park in Babylon Village is a quaint park located just North of Main Street, West of Deer Park Avenue and East of Little East Neck Road. As I was there taking photos, they are reconstructing the playground and it should be completed by the Spring of 2012.

You will notice in the two photos below, there are homes that face the lake. This is the Argyle Lake section in Babylon Village and it covers the Babylon NY School District. These homes do not come cheap. If a homeowner were to list their home there right now, they could get over $1M for it but of course that depends upon size, condition, etc., just like any other home.

I hope you enjoy looking at the photos just as much as I did taking them!

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:

Babylon Village Real Estate Market Activity - Period Ending 8/28/11

Two homes sold in Babylon Village during weeks 8/15/11 to 8/28/11:

99 Marlborough Road Babylon Village - This three bedroom Expanded Cape has six rooms, no garage and no basement. Listed for $275,000 and sold for $275,000. On the market for 99 days. List price to sold price ratio: 0%. Property Taxes - $8,387. It was an Estate sale. Buying a home in Babylon Village in the Babylon School District for under $300K without needing a lot of work is rare so it doesn't surprise me that the sellers got their asking price.

63 Strong Avenue Babylon Village - This 4 bedroom Colonial has 10 rooms, 1 car attached garage and a partially finished basement. Listed for $639,000 and sold for $620,000. On the market for 32 days. List price to sold price ratio: 3%. When you view the photos, you will see why it sold for 3% under asking price. Property Taxes - $14,060.

As you can see from the chart above, more homes are staying on the market in Babylon Village than going off. Hence, it's a buyer's market.

Babylon Village Real Estate Market - Quarterly Median Sales Price:

When we compare the 2nd Quarter of 2007 to the 2nd Quarter of 2011, they are almost the same. So far, the real estate market in Babylon Village is showing signs of improvement. This doesn't mean a seller's market anytime soon. More homes have to sell off the market than coming on in order to have a seller's market.

Absorption Rate - Absorption rate is how we determine if the real estate market is a buyer's or seller's market. It tells us how long it will take for the current homes on the market to sell.

For example, if we want to see absorption rate for a 3 month period for Babylon Village, we look to see how many homes are currently on the market which is 69.

Then divide how many homes sold in a three month period which is 21 (May through August 2011).

21 sold homes divided by 3 months = 7 (An average of 7 homes sell per month for a three month period).

We then divide 69 (current homes on the market) by 7 = 9.85 months it will take to sell all 66 homes.

See Absorption Rate Chart for Babylon Village below:

Send me an email today to receive my Quarterly Real Estate Market Reports for Babylon Village!

Babylon Village Sold Homes - August 2011

Two homes sold in Babylon Village:

15 Christopher Court Babylon NY- Paradise Point Section - This Colonial home was built in 2004. Has 5 bedrooms and 10 rooms. Situated on a canal with 100 feet of bulkhead. Listed at $1.2M and sold for $1.177M On the market for 412 days. List price to sold price ratio: 1.9%

55 The Crescent Babylon NY - This Antique/Historical home was built in 1901. Has 8 bedrooms and 18 rooms. The sale also included 2 lots. Listed at $1.26M and sold for $1.275M. On the market for 54 days. List price to sold price ratio: -1.2%. You have got to click on the address link. This home is fabulous!

Currently, there are 72 homes for homes for sale in Babylon. Prices range from $149,000 (short sale) to $2.995MKeep in mind that Babylon NY has three school districts: Babylon Village School District, West Babylon School District and North Babylon School District.

Search Homes for Sale in Babylon NY below:

Babylon Village Sold Homes - Homes For Sale in Babylon Village

One home sold in Babylon Village last week:

530 Fire Island Avenue Babylon NY- This Inline Ranch has 2 bedrooms and 6 rooms. Situated on a canal with 40 feet of bulkhead. Listed at $389,000 and sold for $380,000. On the market for 32 days. List price to sold price ratio: 2.3%Any home for sale in Babylon Village under $400K will sell quickly when it's priced right.

Two homes came onto the market last week in Babylon Village.

One home on Christopher Court in Babylon Village went under contract last week.

Currently, there are 72 homes for homes for sale in Babylon Village. Prices range from $149,000 (short sale) to $3 million.

Search Homes for Sale in Babylon Village below:

Babylon Village Sold Homes Real Estate Market Report

Three homes came onto the market in Babylon Village last week. Three are under contract and two sold.

The two Babylon Village homes that sold are:

208 Litchfield Avenue Babylon NY- This home is a six room, 3 bedroom Ranch. Listed at $318,999 and sold for $310,000. On the market for 28 days. List price to sold price ratio: 6.6%

127 Midway Street Babylon NY - This home is a 15 room, 7 bedroom Contemporary. Listed at $775,000 and sold for $739,000. On the market for 145 days. List price to sold price ratio: 4.7%

Currently, there are 74 homes for homes for sale in Babylon Village. Prices range from $149,000 (short sale) to $3 million.

Please search for Babylon Village homes for sale below: