The following is the February 2008 Home Trends Market Report for the Three Village 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 Three Village 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 Three Village School District. 

This report is designed to give factual information about sales in the Three Village 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 Three Village 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 has shown a slight drop.  Due to the small sampling, the average list price and sold price increased by a large margin.  This is mainly due to the fact that there were two luxury home sales that heavily skewed the statistics, particuarly the home sold for nearly $4 million.  The ratio of list price to sold price improved slightly, and there was a tremendous improvement in average days on market, although it remains to be seen if January was an anomoly.

YEAR-OVER-YEAR MARKET TREND ANALYSIS: 

While the inventory trend increased, it was only by a slight margin.  The luxury home sales are the main reason that there seems to be such a rise in average home prices.  As the year progresses, the true trend will be revealed, although there are some positive signs.  The ratio of list price to sold price showed only a slight deterioration, and the days on market remained flat.

CONCLUSION: 

A few luxury home sales have made it more difficult to determine the market trend for the Three Village School District.  With a sample size this small, the statistics are easily skewed, so it will take a bit more time to determine the true market trend.  Keeping the inventory trend flat or improving is a good sign.  Overall, it is still advisable for homeowners to price their homes competitively and also have them "show-ready," as there is still competition out there.