Volatility is one of the important aspects which is interesting to understand in order to make investment in stock market. Volatility is the fluctuation of stock over a certain period. The fluctuation might affect investors in conducting stock transactions in stock exchange. The objective of the research was to analyze the effect of Return on Equity, Debt to Equity Ratio, Earning Per Share, Inflation, and BI Rate in affecting the volatility of Jakarta Islamic Index (JII) stock price on property company and real estate. The type of the research was quantitative using secondary data. The data used were three-month data from 2013 – 2017. The analysis method used was panel data regression with Eviews as the analysis tool. The estimated results of the research were as followed. The independent variables simultaneously affected the dependent variables. The variables of ROE, DER, and BI Rate affected positively and significantly toward the volatility of JII stock price on properties and real estates. EPS affected negatively and significantly, while inflation did not affect significantly toward the volatility of JII stock price on property sector and real estate.