Hauppauge Long Island Homes ~ Market Trends Report ~ January 2008

Welcome to the NEW and IMPROVED Home Trends Market Report for homes in the Hauppauge 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 Hauppauge School District.

JANUARY 2008 HOME SALES

JANUARY 2007 HOME SALES

MARKET TREND ANALYSIS:  Virtually the same amount of homes came on the market during January of 2008 vs. 2007, although there were more closings during 2007.  This indicates that, while it is still a buyer's market, the inventory year-over-year did not rise significantly.  The average sales price was lower in 2008, as was the average list price.  However, this statistic is skewed by the fact that higher priced homes sold during 2007.  The important statistic to look at is that homes sold for the same percentage of list price, and they did so in a shorter period of time. It is important to note that these trends are based on year-over-year statistics. As the year progresses, the statistics will show month-over-month trends as well.

CONCLUSION:  It is a great time to be buying a home in the Hauppauge School District.  Interest rates are very low, and prices are reasonable.  Inventory is remaining relatively steady.  If you are selling your home, these market trends are favorable because of the inventory factor.  However, it is still essential to be priced to sell if you are serious about moving because there is competition on the market.