Jericho, NY

The following is the February 2008 Home Trends Market Report for the Jericho School District.  For the first time ever, this report will show month-by-month comparisons, in addition to year-over-year market trends.  This report provides statistical information about homes sold in the Jericho School District including:  location of homes, list price, sold price and days on market.

It is important to note that monthly reports provide a relatively small sampling of homes which often times results in extreme fluctuations that may or may not be indicative of the market trend for the Jericho School District. 

This report is designed to give factual information about sales in the Jericho School District.  If you are interested in finding out the market value for your particular home, you should consider having an actual market analysis done.

These reports are done by school district rather than town because school districts play a very important role in home prices on Long Island.   

Below the actual data you will find an analysis of the real estate trends for homes in the Jericho School District.

FEBRUARY 2008 HOME SALES

FEBRUARY 2007 HOME SALES

MONTH-BY-MONTH / YEAR-OVER-YEAR COMPARISON 

MONTH-BY-MONTH MARKET TREND ANALYSIS: 

The inventory trend deteriorated slightly.  The sample size is so small that every home sale can cause drastic fluctuations and cloud the true market trend.  This contributed to the lower list price and sold price, and the deterioration of the ratio between list price and sold price.  The days on market improved slightly.

YEAR-OVER-YEAR MARKET TREND ANALYSIS: 

There is more inventory in 2008 than there was in 2007, but the number is negligible.  The luxury home market has boosted the list price and sold price, and the ratio of list price to sold price improved slightly.  The average time on market was shorter in 2008 than in 2007.

CONCLUSION: 

In a luxury home market like the ones in the Jericho School District, there is usually far less activity than in lower priced markets, thus the sample size is very small.  The average days on market may very well be the best indicator of an improving market, but it remains to be seen over the coming months if this is, in fact, the case.

Welcome to the NEW and IMPROVED Home Trends Market Report for homes in the Jericho School District.  This will be a monthly feature going forward (formerly a quarterly feature).  The report will continue to provide statistical information, but you will now also be able to see exactly where each sold home is located, how much it was listed for, how much it sold for and how many days that it was on the market.

Since this is a monthly report, there will be a smaller sampling of homes.  As such, there will be greater fluctuations in the averages then there was with the quarterly reports.  This report is designed to give factual information about what is happening locally.  If you are interested in finding out the market value for your particular home, you should consider having an actual market analysis done.

These reports are done by school district rather than town because school districts play a very important role in home prices on Long Island.   

Below the actual data you will find an analysis of the real estate trends for homes in the Jericho School District.

JANUARY 2008 HOME SALES

JANUARY 2007 HOME SALES

MARKET TREND ANALYSIS:  There is a very small sampling in the Jericho School District.  As such, the numbers are very easily skewed.  There is very little in the way of inventory in the Jericho School District as well, so these numbers are highly subjective.

CONCLUSION:  Because the Jericho School District features so many luxury homes, the statistical data is inconclusive.  Over the coming months, there will be year-to-date comparisons that should start to clarify the trends.