Adam Waldman - Long Island REALTOR®

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.

Three Village 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 Three Village 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 Three Village 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 Three Village School District. 

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

APRIL 2008 HOME SALES

APRIL 2007 HOME SALES

YEAR-OVER-YEAR COMPARISONS 

MARKET TREND ANALYSIS: 

The increase in the luxury home market sales helped boost all of the numbers for the Three Village School District.  This is a multi-segmented market, which makes determining an overall market trend more difficult.  For example, in the month of April, there was a home sale for $320,000 and also a home sale for $1,700,000.  While the two homes are both part of the same school district, they are not really a part of the same market.  For this reason, all trend numbers should be studied, but not relied upon for individual homes in the area.  Being that this is a very large school district with a large gap between starter homes and luxury homes, there is bound to be extreme fluctuations.  There are, however, a few numbers that can be looked at for the overall market - inventory numbers and average days on market, both of which showed improvement in comparison to the first quarter of 2008. 

CONCLUSION:

As it was stated above, this is an unusual market that can be evaluated on different levels (starter, mid-level and luxury homes).  A number of homes are selling relatively quickly, while others are taking longer than the average to sell.  Overall, the prices for April are in line with the first quarter average for the Three Village School District.  The prices for 2008 are showing marked improvement over 2007, but this may just be a sign that the luxury market has picked up this year, as evidenced by the three sales of million dollar homes in 2008, compared to none in 2007 for the same time last year.  In fact, the highest priced home sold last April was just slightly above $800,000. 

So what does this mean for the overall market trend for the area?  It cannot be determined easily, but there are some very positive signs in the market.  First and foremost, average days on market has shown a dramatic improvement.  More homes sold faster than the average than slower than the average, indicating that the homes that sold are being priced properly for the most part.  However, a steady rise in inventory shows that there is a lot of competition, and pricing to sell is the best way to get your home sold.

Home buyers at all levels will find opportunities in the Three Village School District.  However, it should also be noted that homebuyers have competition for properly priced homes, so it is not a good idea to assume that the "right" home will last on the market, despite what the mass media would have you believe.

Smithtown 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 Smithtown 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 Smithtown 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 Smithtown School District. 

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

APRIL 2008 HOME SALES

APRIL 2007 HOME SALES

YEAR-OVER-YEAR COMPARISONS 

MARKET TREND ANALYSIS: 

The market trend for the Smithtown School District can be difficult to determine because of the disparity between prices of starter homes and luxury homes.  In April of 2008, there were no luxury home sales, which contributed to the decline in both listing and sold price.  In April of 2007, two homes sold for nearly $1 million, whereas the most expensive home sale in April of 2008 was just over $700,000.  Although there are more closings each month in the Smithtown School District than other areas (due to the size of the district), the sample size is still relatively small, and a few sales can alter the statistics.  As is the case in some other districts, Smithtown is a multi-segmented district (starter homes, mid-level, luxury).  Each of those markets may have their own trends.

CONCLUSION:

Because of the make-up of the market in the Smithtown School District, the trends tend to fluctuate a bit.  However, there are some numbers that can be evaluated in a broad term - inventory and average days on market.  The inventory in April improved in comparison to the first quarter average of 2008, but declined slightly in comparison to April of 2007.  The average days on market has remained relatively consistent. 

The key number to keep in mind is rising inventory.  This factor necessitates proper pricing in order for homes to sell quickly due to competition on the market.  Overpriced homes usually end up staying on the market longer, and require price adjustments to find a buyer.  Home sellers that do not adjust to the market often times end up having their listing expire without selling or the home gets taken off of the market.  As is the case in most markets, properly priced homes not only sell faster, but also much closer to, at, or slightly above the asking price, whereas overpriced homes generally take longer to sell and have a greater disparity between listing price and sold price.

Home sellers that are motivated to sell their homes should realize that competitive pricing is essential to selling a home, as is having the home in "showing" condition.  Homebuyers will find opportunities in the Smithtown School District, due to the amount of inventory, however, homebuyers should also remember that they will have competition from other buyers for homes that are priced to sell.

Kings Park 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 Kings Park 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 Kings Park 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 Kings Park School District. 

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

APRIL 2008 HOME SALES

APRIL 2007 HOME SALES

YEAR-OVER-YEAR COMPARISONS 

MARKET TREND ANALYSIS: 

Inventory increased in the Kings Park School District by comparison to both the first quarter of 2008 and April of 2007.  With a relatively low number of closings, the average asking price and sold price was easily boosted by the sale of one home in Fort Salonga for $1.65 million.  This particular home happened to sell rather quickly, which helped reduce the average days on market, along with one other home that sold quickly, but for far below the listing price.  The trend is skewed by these numbers, giving the market a stronger appearance than what other indicators are showing. 

CONCLUSION:

Rising inventory in comparison to the first quarter average for 2008 and April of 2007 tells only part of the story in the Kings Park School District.  The average days on market also showed a significant increase, although the list price and sold price seemed relatively strong.  Of course, these numbers can be largely attributed to the luxury home sale in Fort Salonga for $1.65 million.

The year-over-year quarter trend for the first quarter actually showed some positive signs, so the numbers from April might very well be an abberation.  It will take more data in the coming months to determine if the trend is being altered by the sale of luxury homes at different times during the year. 

The days on market average for the first quarter of the year was actually a very positive sign, and the listing and sales prices indicated that the market has stabilized.  As the year progresses, it will become clearer if the trend for the first quarter was accurate or if the market is actually still volatile. 

Half Hollow Hills 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 Half Hollow Hills 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 Half Hollow Hills 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 Half Hollow Hills School District. 

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

APRIL 2008 HOME SALES

APRIL 2007 HOME SALES

YEAR-OVER-YEAR COMPARISONS 

MARKET TREND ANALYSIS: 

While it appears that the market trended down in the Half Hollow Hills School District in April, the sample size was fairly small, and the sale of one home in Wheatley Heights for under $300,000 (which is highly unusual for the area) dragged down the average prices by a noticeable amount.  All of the other numbers indicate a relatively flat market in comparison to the first quarter of 2008, and not really much different than April of 2007.  The average days on market increased, but this can be attributed to one particular home that was on the market for 493 days (significantly higher than the average).

CONCLUSION:

A relatively small sample size of data, combined with the fact that the market in the Half Hollow Hills School District features starter homes and luxury homes, makes analyzing the trend more of a challenge.  The inventory has risen at approximately the same rate as the first quarter of this year, and only slightly more than April of 2007.

However, this is a fairly large market, and there is enough competition out there for buyers to choose from.  Home sellers in the area would be wise to price their homes to sell against the competition, or risk having their home languish on the market.  There are still homes selling relatively quickly (when properly priced).

Homebuyers will likely appreciate the opportunity to find homes in the area that may have previously been out of their price range.