Kings Park Long Island Homes ~ Market Trends Report ~ January 2008

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

JANUARY 2008 HOME SALES

JANUARY 2007 HOME SALES

MARKET TREND ANALYSIS:  Inventory has risen slightly in the Kings Park School District, and prices have deteriorated slightly as well.  The ratio of list price to sales price has improved, which could indicate that homeowners are starting to price their homes more competitively.  However, it is clear that it is taking longer to sell a home in Kings Park.  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 good time to be buying a home in the Kings Park School District.  Interest rates are very low, and prices are reasonable.  If you are selling your home, it is still essential to be priced to sell if you are serious about moving because there is competition on the market.  Since this is only a one-month indicator, it is difficult to say how long it will take to sell your home.  It's a good idea to pay attention to these monthly reports, as you'll start to see the trend come into focus more.  If January is any indication, home sellers should prepare to have their home on the market for around six months.  Of course, if you really want to sell quickly, you can still do so if you make your home attractive to buyers, both physically and financially.