Hauppauge School District Homes ~ Market Trend Report ~ April 2008

Hauppauge 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 Hauppauge 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 Hauppauge 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 Hauppauge School District. 

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

APRIL 2008 HOME SALES

APRIL 2007 HOME SALES

YEAR-OVER-YEAR COMPARISONS 

MARKET TREND ANALYSIS: 

The Hauppauge School District traditionally has a limited amount of activity, and April of 2008 was no exception.  This small sample size often leads to extreme fluctuations in the statistical data. While inventory rose at a slightly higher rate than the first quarter average of this year and of April of 2007, the home prices seem to have shown very solid growth.  However, a closer look will indicate that one home sale (of the new construction on Brookstone Court) actually made the sales numbers higher, in addition to drastically raising the average days on market.

CONCLUSION:

Overall, the market seems to be relatively stabilized in the Hauppauge School District.  The inventory numbers for April are similar to the inventory numbers for the first quarter of the year, and also of April of 2007.  Even though the numbers continue to rise, there is still a fairly low inventory of homes on the market in the Hauppauge School District.

Home sellers will find some competition, but not an inordinate amount.  The ratio of sold prices to list prices over the course of 2007 and 2008 would seem to indicate that homeowners are pricing their homes to sell, or at the very least, reducing their prices until their home is appealing to homebuyers.  It is important that home sellers continue this trend, and also that they have their home in "showing" condition to maximize the chances of enticing buyers to make an offer on their home.

Homebuyers will find that, while there has been some adjusting of prices, that the starter homes are still priced higher than other areas in close proximity.  This may be due to the fact that the property taxes in the area are lower than most of the surrounding areas due to the businesses that contribute to the tax base.