Syosset School District Homes ~ Market Trends Report ~ April 2008

Syosset School District Homes Market Trend Report - April 2008.  This report shows a statisical comparison between the first quarter averages and the month of April for 2008, in addition to a year-over-year comparison.  This report provides information about homes sold in the Syosset School District including:  location of homes, list price, sold price and days on market.

The following is the March 2008 Home Trends Market Report for the Syosset School District.  This report shows month-by-month comparisons, in addition to year-over-year market trends.  Since this report comes at the end of the first quarter of the year, there is also a comparison of the year-over-year quarterly market trends.  This report provides statistical information about homes sold in the Syosset 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 Syosset School District.  The quarterly market trend has more data, and as such, gives a more accurate look at the current market trend.  However, it should be noted that the market data is still relatively small and subject to extreme fluctuations based on sales that are atypical of the rest of the sales in the Syosset School District. 

This report is designed to give factual information about sales in the Syosset School District.  As is the case with many school districts on Long Island, the Syosset School District has a very broad spectrum of home prices (starter, mid-level, luxury), and the value of individual homes cannot be determined by evaluating broad market trends.  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 Syosset School District.

APRIL 2008 HOME SALES

APRIL 2007 HOME SALES

YEAR-OVER-YEAR COMPARISONS 

MARKET TREND ANALYSIS: 

The inventory rose in the Syosset School District higher than the first quarter average, and also higher than April of 2007.  The averge home prices rose on the strength of two multi-million dollar luxury homes.

CONCLUSION:

If you were to look strictly at the average list price and average sales price, it would appear that homes in the Syosset School District have appreciated dramatically.  However, the numbers are skewed by the homes that sold for over $3 million in Muttontown and Oyster Bay Cove.  While these two sales boosted the sales figures, they also contributed to the ratio of sold price to list price deteriorating.  All things considered, the days on market remained relatively flat, and the inventory increased somewhat.  Sellers still need to be mindful of pricing their home properly in this market.