Syosset School District Homes ~ Market Trends Report ~ May 2008

Syosset 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 Syosset School District including:  location of homes, list price, sold price and days on market.  This report provides statistical information about homes sold in the Syosset 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 Syosset 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 Syosset School District. 

 

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

 

MAY 2008 HOME SALES

 

MAY 2007 HOME SALES

 

YEAR-OVER-YEAR COMPARISONS 

 

MARKET TREND ANALYSIS: 

Overall, the home prices declined a bit from April, but were still higher than the first quarter average and also May of 2007.  The average days on market showed a significant increase in comparison to this year and last year.  The ratio of sales price to list price continued to be below that of 2007.

 

CONCLUSION:

The Syosset School District has an unusual market because the homes range from starter to trade-up to luxury.  Each of these markets act as their own sub-markets.  Overall, there are positive trends in the market.  However, homeowners should expect that it will take some time to sell their home, and that the sales price ratios are lower in Syosset than other parts of Long Island.  Homebuyers have an opportunity to find the home that best fits their needs in the district due to the rising inventory levels.

 

About The Author

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