The Right Move
Carlene Calabrese
631-876-7892631-876-7892

Babylon Area Residential Real Estate Sales

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Long Island continues to feel the real estate squeeze resulting from the lack of inventory.  The continued limited supply of available houses, coupled with the surge in buyer demand is rapidly pushing housing prices significantly higher in Western Suffolk County.  The current market is forcing buyers to weigh their wants vs their needs in their home buying decisions.

Situated in Western Suffolk County, Babylon Township is comprised of 3 villages and 11 hamlets.  Many of these have more than one school districts so home buyers new to the area should do their research or work with a real estate agent trained in buyer representation if school districts is an important factor.

Following are the housing statistics for Babylon, North Babylon, West Babylon and Deer Park – September 2017.  (Supplied by MLSLI  – Multiple Listing Service of Long Island.)

Babylon

During the month of September 11 houses went to closing.  5 of the closed homes are in the Babylon School District, 2 in West Babylon School District and 4 in North Babylon School District. The lowest sold home with an original list price of $213,000 was a 3 bedroom, 2 bathroom cape on Kobb Blvd in the North Babylon SD.  The house was on the market for 54 days and sold above asking as a fixer upper for $231,000.

The highest sold home in Babylon was a 5 bedroom, 6 ½ bath colonial in Babylon School District.  This waterfront house on Peninsula Drive sits on a 33,125 sq. ft. lot and was built in 2009.  The original list price was $1,899,000 – sold for $1,600,000 after 186 days on the market.

The 2nd highest sold home also in Babylon School District, was originally listed at $1,350,000 and sold above asking in 20 days at $1,420,000.  The 3rd highest home sold was listed and sold for asking price in 18 days for $469,000.  This 4 bedroom, 2 bath colonial on Foster Blvd. is in the North Babylon SD.

The average list price for all of Babylon is $583,999 with an average selling price of $564,181.  The absorption time is +4.8 months. (2 months comparison period.)  In Babylon School District only, 5 houses closed and there were 13 new listings.  Currently, the average list price for homes in Babylon School District is $865,800 with an average selling price of $819,400 and an absorption time of 5 months.  There were 17 new listings in Babylon during the month of September.

North Babylon

Meanwhile, over in North Babylon, there were 16 closed transactions all of which are in North Babylon School District.  The lowest sold home was on Veronica Lane which was a short sale property.  Listed at $225,000, this 4 bedroom, 1 bathroom cape sold for $223,000.

The highest sold home was a 3 bedroom, 2 bath split on Maybrook Road in the Sunset City area.  Originally listed at $439,990, it was on the market for 19 days and sold for $425,000.  A 2nd home on Pickwick Lane also sold for $425,000.  This 3 bedroom, 2 bath expanded cape with an original list price of $439,000 was on the market for 37 days.

Currently, the average list price in North Babylon is $363,061 with an average selling price of $354,718.  The absorption time is currently 2 months.    Over a 2 month period, the average list price for North Babylon School District only was $355,340 with an average sale price of $345,706 and absorption time of 2.1 months.  19 houses was listed for sale in North Babylon in September.

West Babylon

In West Babylon housing prices continue to creep up as supply continues to decrease.  A total of 19 houses sold in September.  Included were 3 short sale homes and 1 foreclosed home.  10 of these houses are in the West Babylon School District and 9 are in North Babylon SD.

The lowest sold home was a fire damaged 3 bedroom, 2 bath expanded cape on Mount Ave in the Belmont Estates area of West Babylon.  Originally listed for $209,000, it was on the market for 158 days and sold for $110,000.

The highest sold home in West Babylon was on Sandpiper Lane in the Bergen Point area.  Located in the West Babylon School District, this 4 bedroom, 3 bath house was originally listed for $695,000.  On the market for 21 days, it sold for $625,000.

The next highest sold home was a 5 bedroom, 2 bath expanded ranch on 6th St. in West Babylon School District.  Listed for $499,000, it was on the market for 21 days and sold for $493,000.

Over a 2 month period, the average list price in West Babylon was $386,036 with an average selling price of $368,994.  Currently the absorption time is 2.4 months.  The average list price for houses in West Babylon School District only is $411,149 with an average sale price of $397,491 and an absorption time of 3.2 months.  During the month of September, 26 houses were listed for sale in West Babylon.

Deer Park

33 houses closed in Deer Park in September, 3 of which is in the Half Hollow Hills School District while the remaining 30, are in the Deer Park School District.  There was 1 short sale and 2 foreclosed homes.

The lowest sold home in Deer Park was a 3 bedroom, 1 bath, foreclosed ranch on 7th St.  Listed for $259,900, it was on the market for 134 days and sold for $238,400.

The highest sold home in Deer Park was a 6 bedroom, 3 bath colonial on  Priscilla Ave in the Half Hollow Hills School District.  Listed at $560,000, this house, on a 1000 sq. ft. lot, has a legal 3 bedroom accessory apartment sold above asking price for $570,000.  It was on the market for 31 days.

The 2nd highest sold home was also on Priscilla Ave.  This 4 bedroom 3 ½ bath house on 8,372 sq. ft. lot was originally listed for $569,000.  It was on the market for 111 days and sold for $549,000.

Currently, the average asking price of a Deer Park home is $382,604 with an average selling price of $373,818.  The absorption time is 2.9 months.  (2 months comparison period.)   Over the same 2 month period, the average list price for houses sold in Deer Park School District only, was $366,046 with an average selling price of $357,868 and absorption time of 2.9 months.  During the month of September, there were 25 houses listed for sale in Deer Park.

There are many variables in buying and selling residential real estate.  It is important to select an agent that is knowledgeable of the area and who is able to provide the support necessary to facilitate the transaction.

Will this steady rise in the Babylon area home prices continue or is it almost at its peak?  Stay tuned…

www.carlenecalabrese.com

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