1ST Quarter Sold Homes Report – Western Suffolk County, Long Island, New York

As the first quarter draws to a close the number of sold homes in Western Suffolk County continue to be flat. Coming into the spring home buying season, the area show a low supply of inventory, coming in well below the 6 months’ supply needed for a healthy market.
Keeping Current Matters (KCM) recently reported what we know to be true for this area – “the National Association of Realtors (NAR) releases their Seller Traffic Index as a part of their Realtors Confidence Index. In the latest release, NAR reported that homeowners have been reluctant to sell their houses. This is reflected when broken down by state. Only 11 states have a stable level of seller traffic compared to the remainder of the country, which came in with a weak rating.”

Following are the 1st quarter statistics (condos, co-ops, Homeowners Associations are not included) as reported by the Multiple Listing Service of Long Island (MLSLI).

Babylon, New York (11702)
Babylon is one of the smaller towns in the area. Monthly reports of sold homes continue to be low.

During the month of March there was only 8 sold homes. Of the 8 houses, 1 was a foreclosed property and 1 was a short sale. 4 are in Babylon School District, 3 in West Babylon School District and 1 is in North Babylon School District. The sold homes included 1 cape, 4 colonials and 3 low ranches.

The highest sold home was a 3 bedroom 2 bath colonial on Ketewamoke Ave. This Babylon, NY house was originally listed for $624,933. It was on the market for 21 days and sold for $625,000.

In March, the average sale price for residential properties in Babylon was $522,314.
Babylon, Long Island, NY – Residential
• March 2019
• New Listings 14
• Total Listings 41
• Closed Listings 8
• Absorption Time? +2.0 months. (Supply is low in Babylon. A healthy market requires a 6 month supply.)
• Price
• Average Selling Price $429,562
• Median Selling Price $405,750
• Average Original Listing Price $451,741
• Median Original Listing Price $439,000
• Supply & Demand Net Change
• Supply Change? -10.71*
• Demand Change? +8.76*
• Year to Year Comparison Net Change
• Active -25.45%
• # Contracts +90.91%
• # Closed -20.00%
• Absorption Time? +156.10% Currently 2.0 months
• Average Sold Price -41.75% Currently $429,562
• Median Sold Price -35.82% Currently $405,750
* 2 month comparison period

North Babylon, New York (11703)
North Babylon is experiencing very low supply of available homes for sale.

In March there was only a 1.6 month supply of homes on the market and only 10 houses sold during March. The average sale price was $387,961. Of the 10 homes sold, there was 1 foreclosed property.

The highest home sold was a hi-ranch on Thorman Ave. It was originally listed at $495,000, was on the market for 33 days and sold at $482,500. Also sold were 5 low ranches, 1 hi-ranch, 1 splanch, 2 split levels and 1 colonial.

N. Babylon, Long Island, NY – Residential
• March 2019
• New Listings 29
• Total Listings 31
• Closed Listings 10
• Absorption Time? +1.6 months (Supply remains low. A healthy market requires at least a 6 month supply.)
• Price
• Average Selling Price $396,249
• Median Selling Price $412,500
• Average Original Listing Price $404,836
• Median Original Listing Price $434,495
• Supply & Demand Net Change
• Supply Change? +27.78*
• Demand Change? +7.58*
• Year to Year Comparison Net Change
• Active -8.82%
• # Contracts +11.76%
• # Closed -9.09%
• Absorption Time? +22.58% Currently 1.6 months (Supply remains low. A healthy market requires at least a 6 month supply.)
• Average Sold Price +9.81% Currently $396,249
• Median Sold Price +24.14% Currently $412,500
* 2 month comparison period

West Babylon, New York (11704)
West Babylon is one of the larger towns in Babylon Township. Like most of the surrounding areas, it is served by several school districts and offers different housing styles, close proximity to major highways and mass transit.
In recent years, West Babylon has seen a surge in housing prices with an average selling price of $401,062.

In March, 22 houses sold in West Babylon including 4 foreclosed properties. 17 of the sold homes were in West Babylon School District, 4 in North Babylon School District and 1 in Babylon School District. There was one, 2-story, 7 capes, 2 colonials, 1 contemporary 2 expanded ranches, 1 farm ranch, 2 hi- ranches, 1 raised ranch, 3 low ranches, 1 split level, and 1 tudor style house.

The highest home sold was a 5 bedroom, 2 bath expanded ranch on Cutter Place in West Babylon School District. With an original list price of $629,990, it was on the market for 35 days and was sold for $605,000.

W. Babylon (Town) – Residential
• March 2019
• New Listings 31
• Total Listings 66
• Closed Listings 22
• Absorption Time? +1.8 months (Supply remains low. A healthy market requires at least a 6 month supply.)
Price
• Average Selling Price $401,065
• Median Selling Price $387,000
• Average Original Listing Price $412,538
• Median Original Listing Price $392,000
• Supply & Demand Net Change
• Supply Change? -14.43*
• Demand Change? +3.98*
• Year to Year Comparison Net Change
• Active +20.00%
• # Contracts +27.59%
• # Closed +33.33%
• Absorption Time? +12.12% Currently 1.8 months
• Average Sold Price +25.22% Currently $401,065
• Median Sold Price +15.63% Currently $387,000
* 2 month comparison period

Deer Park, New York (11729)
Deer Park is experiencing a downward trend in available listings while demand is starting to increase. Currently there is only a 2.1 months’ supply of available homes which is much less than the 6 months’ supply needed for a balanced market.

During the month of March, 15 houses sold in Deer Park, including 2 foreclosed properties. 14 of the houses sold are in Deer Park, School District and one is in Half Hollow Hills School District. Sold homes included 1 cape, 4 colonials, 7 low ranches and 3 split level houses.

The highest sold home was a 5 bedroom, 2 bath colonial on Leo Lane in Deer Park School District. This house was originally listed at $559,000, was on the market for 19 days and sold for $556,000.
Deer Park, Long Island, NY – Residential
March 2019
• New Listings 22
• Total Listings 50
• Closed Listings 15
• Absorption Time? +2.1 months (Supply remains low. A healthy market requires at least a 6 month supply.)
• Price
• Average Selling Price $365,866
• Median Selling Price $381,000
• Average Original Listing Price $378,140
• Median Original Listing Price $389,000
• Supply & Demand Net Change
• Supply Change? -6.76*
• Demand Change? +8.48*
• Year to Year Comparison Net Change
• Active -3.85%
• # Contracts +4.35%
• # Closed -16.67%
• Absorption Time? -4.00% Currently 2.1 months
• Average Sold Price -2.12% Currently $365,866
• Median Sold Price +0.39% Currently $381,000
* 2 month comparison period

Wheatley Heights, New York (11798)
The smallest town in the Township of Babylon, Wheatley Heights usually posts the lowest number of sold homes monthly. Sharing a zip code with Wyandanch, all houses are in Half Hollow Hills School District. The average sale price in Wheatley Heights is $420,199.

Only 5 houses sold during March including one foreclosed property and one short sale property. There was an expanded ranch, 2 hi-ranches, 1 splanch and 1 colonial.

The highest sold home was a 4 bedroom, 2 bath hi ranch on Briarwood Road. It was on the market for 67 days, listed and sold for $499,999.

Wheatley Heights, Long Island, NY – Residential
• March 2019
• New Listings 7
• Total Listings 14
• Closed Listings 5
• Absorption Time ?+2.3 months (Supply remains low. A healthy market requires at least a 6 month supply.)
• Price
• Average Selling Price $420,199
• Median Selling Price $415,000
• Average Original Listing Price $430,775
• Median Original Listing Price $445,000
• Supply & Demand Net Change
• Supply Change? +7.69*
• Demand Change? +10.00*
• Year to Year Comparison Net Change
• Active +40.00%
• # Contracts 0.00%
• # Closed +150.00%
• Absorption Time? -14.29% Currently 2.3 months (Supply remains low. A healthy market requires at least a 6 month supply.)
• Average Sold Price -9.49% Currently $420,199
• Median Sold Price -6.61% Currently $415,000
* 2 month comparison period

Wyandanch, New York (11798)
For many years, the town of Wyandanch posted the lowest sale prices in the area. However, with the continued limited supply of available houses combined with the on-going town restoration efforts, housing prices in Wyandanch are starting to climb. Served by several school districts, 9 houses sold in the month of March which included 2 short sales. 7 are in the Wyandanch School District and 2 in North Babylon School District. There were 2 capes, 2 colonials, 1 expanded cape, 1 hi-ranch, 1 raised ranch, and 2 low ranches.

The highest sold home was a 4 bedroom, 3 bath colonial on Booker Avenue in N. Babylon School District. It was originally listed at $359,999, was on the market for 33 days and sold above asking for $375,000.

Wyandanch, Long Island, NY – Residential
• March 2019
• New Listings 14
• Total Listings 26
• Closed Listings 9
• Absorption Time? +2.2 months (Supply remains low. A healthy market requires at least a 6 month supply.)
• Price
• Average Selling Price $248,277
• Median Selling Price $256,000
• Average Original Listing Price $260,666
• Median Original Listing Price $259,000
• Supply & Demand Net Change
• Supply Change? -4.44*
• Demand Change? -1.19*
• Year to Year Comparison Net Change
• Active -18.75%
• # Contracts +9.09%
• # Closed +125.00%
• Absorption Time? +38.46% Currently 2.2 months (Supply remains low. A healthy market requires at least a 6 month supply.)
• Average Sold Price +15.83% Currently $248,277
• Median Sold Price +18.26% Currently $256,000
* 2 month comparison period

Lindenhurst, NY (11757)
Lindenhurst continues to provide relatively high listings in the area. Yet compared to demand, it also well below the 6 month supply needed for a healthy market.

In March, there were 41 sold homes, 40 of which are in Lindenhurst School District and 1 in Copiague School District. Included were 3 short sales and 7 foreclosed properties. Sold homes included one 2-story, 9 capes, 13 colonials, 5 expanded capes, 5 hi-ranches 5 low ranches and 3 split level homes.

The highest sold home was a 4 bedroom, 2.5 bath newly constructed colonial. It was on the market for 59 days and was sold for the list price of $559,000.

Lindenhurst, Long Island, NY – Residential
• March 2019
• New Listings 52
• Total Listings 120
• Closed Listings 41
• Absorption Time? +3.2 months (Supply remains low. A healthy market requires at least a 6 month supply.)
• Price
• Average Selling Price $358,219
• Median Selling Price $355,000
• Average Original Listing Price $378,258
• Median Original Listing Price $385,000
• Supply & Demand Net Change
• Supply Change? +15.83*
• Demand Change? -0.60*
• Year to Year Comparison Net Change
• Active -7.69%
• # Contracts +8.57%
• # Closed +127.78%
• Absorption Time? +26.67% Currently 3.2 months
• Average Sold Price +6.88% Currently $358,219
• Median Sold Price +10.79% Currently $355,000
* 2 month comparison period

Copiague, NY 11726
Copiague is served by several School Districts and home prices vary. Houses closer to the water often require flood insurance and generally command higher sale prices.

7 houses sold in Copiague during March, one of which was a short sale. There was 1 duplex, 1 cape, 2 expanded capes, 1 expanded ranch and 2 low ranches – all in Copiague School District.

The highest sold home was a 4 bedroom, 3 bath expanded ranch on Baylawn Ave in South Copiague. It was originally listed for 599,000, was on the market for 32 days and sold for $550,000.
Copiague, Long Island, NY- Residential
• March 2019
• New Listings 29
• Total Listings 56
• Closed Listings 7
• Absorption Time? +2.8 month (Supply remains low. A healthy market requires at least a 6 month supply.)
• Price
• Average Selling Price $332,928
• Median Selling Price $350,000
• Average Original Listing Price $352,425
• Median Original Listing Price $349,990
• Supply & Demand Net Change
• Supply Change? +7.04*
• Demand Change? +6.25*
• Year to Year Comparison Net Change
• Active +14.29%
• # Contracts +17.65%
• # Closed -36.36%
• Absorption Time? +7.14% Currently 2.8 months
• Average Sold Price +1.98% Currently $332,928
• Median Sold Price -6.67% Currently $350,000
* 2 month comparison period

Amityville, New York (11701)
Like most of the area, Amityville is experiencing a contraction in inventory while demand is starting to rise.

In March only 10 houses sold including 2 foreclosed properties. There were 4 capes, 1 colonial, 1 hi-ranch, 1 mobile home, 2 low ranches and 1 split level home. 8 of the sold homes are in Amityville School District and 2 are in Copiague School District.

The highest sold home in Amityville in March was a 5 bedroom, 2 bath hi-ranch on Columbus Blvd. It was on the market for 28 days and sold at the original list price of $439,000.
The number of homes available for sale in Amityville during March remained low with only a 1.7 month supply of available houses.
Amityville, Long Island, NY – Residential
• March 2019
• New Listings 24
• Total Listings 55
• Closed Listings 10
• Absorption Time? +1.7 month (Supply remains low. A healthy market requires at least a 6 month supply.)
• Price
• Average Selling Price $307,730
• Median Selling Price $331,650
• Average Original Listing Price $320,746
• Median Original Listing Price $344,495
• Supply & Demand Net Change
• Supply Change? -1.43*
• Demand Change? +11.43*
• Year to Year Comparison Net Change
• Active -5.17%
• # Contracts +57.14%
• # Closed -9.09%
• Absorption Time? +80.00% Currently 1.7 months
• Average Sold Price -22.15% Currently $307,730
• Median Sold Price -21.53% Currently $331,650
* 2 month comparison period

Bay Shore, New York (11706)
Bay Shore is in Islip Township and is one of the larger towns in the area. Housing prices vary with a variety of housing styles to choose from. Homes are served by several school districts with varying housing prices.

In March, 45 houses sold including 7 foreclosed properties. 19 of the sold homes are in Bay Shore School District, 20 are in Brentwood School District, 5 are in Islip School District and 1 is in West Islip School District. Of the sold homes, there were two, 2-story houses, 3 capes, 10 colonials, 1 cottage, 2 expanded ranches, 1 farm ranch, 8 hi-ranches, 11 low ranches and 3 split level homes.

The highest sold home was a 6 bedroom, 3.5 bath colonial on Lawrence Lane in Bay Shore School District. With an original list price of $1,399,000, it was on the market for 192 days and sold for $1,100.00.
Bay Shore, Long Island, NY – Residential
• March 2019
• New Listings 75
• Total Listings 144
• Closed Listings 45
• Absorption Time? +2.4 months (Supply remains low. A healthy market requires at least a 6 month supply.)
• Price
• Average Selling Price $398,923
• Median Selling Price $380,450
• Average Original Listing Price $413,695
• Median Original Listing Price $389,749
• Supply & Demand Net Change
• Supply Change? -0.50*
• Demand Change? +3.69*
• Year to Year Comparison Net Change
• Active -0.69%
• # Contracts +43.90%
• # Closed +10.53%
• Absorption Time? +63.89% Currently 2.4 months
• Average Sold Price +33.93% Currently $398,923
• Median Sold Price +23.93% Currently $380,450
* 2 month comparison period

West Islip, New York. 11795

West Islip is the most westerly town in Islip Township. With an average selling price of $495,266, West Islip is seeing a slight up-tick in available houses for sale.

In March 15 houses sold, 2 of which were foreclosed properties. All are in West Islip School District. The sold homes included 3 capes, 3 colonials, 1 farm ranch, 4 hi-ranches, 2 low ranches and 2 split level homes.

The highest sold home was a 4 bedroom, 3.5 bath, colonial on Eaton Lane. With an original list price of $1,149,000, it was on the market for 336 days and sold for $900,000.
West Islip, Long Island, NY – Residential
• March 2019
• New Listings 25
• Total Listings 67
• Closed Listings 15
• Absorption Time? +3.4 month (Supply remains low. A healthy market requires at least a 6 month supply.)
• Price
• Average Selling Price $495,266
• Median Selling Price $465,000
• Average Original Listing Price $543,069
• Median Original Listing Price $489,900
• Supply & Demand Net Change
• Supply Change? +5.33*
• Demand Change? +1.05*
• Year to Year Comparison Net Change
• Active +6.35%
• # Contracts +25.00%
• # Closed +36.36%
• Absorption Time? +19.40% Currently 3.4 months (Supply remains low. A healthy market requires at least a 6 month supply.)
• Average Sold Price +8.87% Currently $495,266
• Median Sold Price +6.73% Currently $465,000
* 2 month comparison period

If homeowners are not selling then new homes need to be built. However, Western Suffolk County is limited in its supply of raw land. What will be the outcome. Will buyers start to migrate to other areas? Only time will tell…

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