Hauppauge School District Homes Market Trend Report - May 2008. This report shows a statisical comparison between the first quarter averages and the months of April and May 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.
MAY 2008 HOME SALES
MAY 2007 HOME SALES
YEAR-OVER-YEAR COMPARISONS
MARKET TREND ANALYSIS:
The numbers for May showed improvement over the first quarter averages, but were slightly lower than the numbers for April. This is due to the fact that there were very few closings in April, which allows for the numbers to be easily skewed by a sale above the market averages. The numbers are down in comparison to May of 2007.
CONCLUSION:
While there has been an inventory increase of homes on the market in the Hauppauge School District, the inventory number is still relatively low. Home prices are holding stronger than many markets, which is likely due to the fact that taxes in Hauppauge are lower than most areas, which allows homebuyers to buy more home for the money. Homebuyers will find a decent selection of homes for sale, but it is not likely that they will find homes selling for well below the market average. Home sellers should take note of the fact that homes are staying on the market longer than in 2007, and should price their homes competitively if they are truly motivated to sell.
Adam Waldman is a Long Island Residential Real Estate Professional that can assist you with the purchase and/or sale of real estate on Long Island, from bank owned homes to new construction to waterfront property, and everything in between. Adam is also a Relocation Specialist that has created a network of real estate professionals throughout the country in an effort to assist relocating Long Islanders in their transition to new areas. These professionals are experts in the field of relocation and can serve many purposes beyond a simple home search.
Please visit www.TheLIReloGuy.com for your relocation needs and www.AdamWaldman.com for your local needs.
Adam Waldman - RE/MAX Best - 631-357-2036 - adam@AdamWaldman.com
Long Islanders are relocating out of NY. The LI Relo Guy will help you sell your home with my special relocation program and refer you to a local expert in your destination of choice.
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Adam: Sellers here in Charlotte are OBSESSED with DOM--that seems to be where my eyes were directed in your post so I first noted that your April was a bit scary but, May is looking more normal! Your price decrease and inventory increase is not as substantial as MANY other markets--you're very fortunate. Your comment about pricing to SELL--seems to be echoing all over the country--Smart sellers are taking advantage of pricing their home right and getting a quick sale compared to those who don't!
DEBE: Our inventory is fairly manageable compared to other parts of the country. The buyers are just more picky than ever before, and the only way to entice them into buying is proper pricing. Some homeowners really get it, and have benefitted from taking this approach. Others that have a specific price in mind, often find themselves disappointed and expiring. Our days on market are not too bad compared to other parts of the country, and this isn't even factoring in that the buyers and sellers probably agreed to terms before that time, but it's not considered off the market until it is in full contract. This takes more time around here because the contracts are written by real estate attorneys. Thanks for commenting, Debe. I appreciate your input.