Is Island Park, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Island Park has remained a Buyer's Market.
Housing Prices in Island Park, NY
How much do homes in Island Park, NY cost?
Median Sold Price
$662,500
$363/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Island Park was $662,500 in May 2024, up 7.9% from last year, and the median price per square foot was $363.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $470.5K | $630K | +33.9% |
3 Bedrooms | $620K | $660K | +6.5% |
4 Bedrooms | $602.5K | $640K | +6.2% |
5+ Bedrooms | $749K | $840K | +12.1% |
Summary: Island Park housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 33.9%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 6.2%, and 5+ bedroom homes increased by 12.1%.
Housing Supply in Island Park, NY
How many homes are available in Island Park, NY?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
39 | 45 | +15.4% |
Summary: The Island Park real estate market had 45 homes for sale in May 2024, a 15.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 5 | 7 | +40.0% |
3 Bedrooms | 14 | 14 | 0.0% |
4 Bedrooms | 13 | 17 | +30.8% |
5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The Island Park housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 40%, 3 bedroom homes remained the same, 4 bedroom homes increased by 30.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
4 | 4 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Island Park in May 2024, the same as the previous month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Island Park, NY
How long does it take to sell a home in Island Park, NY?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
54 Days | 70 Days | +29.1% |
Summary: Homes in Island Park had an average of 70 days on market in May 2024, up by 29.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 4 homes were sold in Island Park; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.