Commack School District Homes ~ Market Trend Report ~ April 2008

Commack 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 Commack 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 Commack 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 Commack 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 Commack 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 Commack School District. 

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

APRIL 2008 HOME SALES

APRIL 2007 HOME SALES

YEAR-OVER-YEAR COMPARISONS 

MARKET TREND ANALYSIS: 

Inventory rose slightly in the Commack School District in April compared to the first quarter average for 2008 and to April of 2007.  Home prices showed a slight decline.  The most positive trend is the average days on market, which showed improvement over both the first quarter average for 2008 and for April of 2007.  The ratio of sold price to list price remained steady, although still down a bit from 2007.

CONCLUSION: 

The drop in average sold price and list price can be attributed somewhat to the sale of two homes for $350,000 or less, which is unusual for the Commack School District.  With a relatively small sample size, these two sales can bring the average down.  Home sellers that are motivated to sell their homes should definitely factor in the rise in inventory and price their homes against the competition accordingly.  Homebuyers are finding some opportunities to purchase a home in the area for less money than in the past, with an occasional opportunity for homes to be purchased in the typical price range of first-time home buyers.  However, the competition for such homes tends to be higher than that of high-priced homes, as evidenced by the sale on Magnolia Drive, which only was on the market for 7 days.