Jericho School District Homes ~ Market Trends Report ~ April 2008

Jericho 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 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.  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 Jericho School District. 

This report is designed to give factual information about sales in the Jericho School District.  As is the case with many school districts on Long Island, the Jericho 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 Jericho School District.

APRIL 2008 HOME SALES

APRIL 2007 HOME SALES

YEAR-OVER-YEAR COMPARISONS 

MARKET TREND ANALYSIS: 

The only trend worth noting for April for homes in the Jericho School District is that the inventory increased in comparison to both the first quarter average for 2008 and to April of 2007. 

CONCLUSION:

Increased inventory in most cases will put pressure on home prices.  However, the inventory in the Jericho School District is so low, that the impact may still not be that great.  Of course, homeowners would be wise to price their homes competitively based on the overall real estate market.  The reason that a trend can't be discussed this month is because there were only three closings, one of which was a multi-million dollar luxury home, so the statistical information would not be of much help with regard to average price and days on market.