Hicksville School District Homes ~ Market Trends Report ~ March 2008

The following is the March 2008 Home Trends Market Report for the Hicksville 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 Hicksville 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 Hicksville 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 Hicksville School District. 

This report is designed to give factual information about sales in the Hicksville School District.  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 Hicksville School District.

MARCH 2008 HOME SALES

MARCH 2007 HOME SALES

MONTH-BY-MONTH & FIRST QUARTER YEAR-OVER-YEAR COMPARISONS 

MARKET TREND ANALYSIS: 

Overall, the market trend for the Hicksville School District is relatively flat.  The monthly numbers tend to fluctuate up and down, but an examination of the numbers from the first quarter of 2008 vs. the first quarter of 2007 show that home prices have remained steady.  Inventory has increased, but only slightly.  Average days on market is basically the same as it was this time last year, and the ratio of sales price to list price only decreased slightly.  However, the ratio of list price to sales price showed a noticeable deterioration in March.  This could be a one-month anomoly, more than a trend.  This will be determined in future months.

CONCLUSION:

Home prices have remained steady in the Hicksville School District, but many homes that come on the market are not selling due to being overpriced.  The homes that are selling are properly priced for a competitive market, and in "showroom" condition.  If you are a homeowner that is motivated to sell your home, you should price the home accordingly.

Homebuyers will have good selection of homes to choose from, and there are some opportunities for first-time homebuyers that didn't exist previously.  Interest rates are near historical lows, and the economic stimulus package has raised the rates on FHA and Jumbo loan limits until the end of 2008.  This could be very helpful to homeowners that have less of a down payment, but have the income to qualify for a loan.