Adam Waldman - Long Island REALTOR®

Levittown 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 Levittown 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 Levittown 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 Levittown School District. 

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

APRIL 2008 HOME SALES

APRIL 2007 HOME SALES

YEAR-OVER-YEAR COMPARISONS 

MARKET TREND ANALYSIS: 

At a quick glance at the market trend for the Levittown School District, it might seem like prices are dropping, however, this may not be the case.  There were two homes sold for under $300,000, causing the average list price and average sold price to drop because of a relatively small sample size.  The inventory rose at about the same rate as April of 2007, as well as the first quarter average of 2008.  The average days on market improved, as did the ratio between sales price and list price.  If not for a handful of homes that were on the market for much longer than average, this number may have been even lower.

CONCLUSION:

Aside from the two homes selling for below $300,000, which is unusual for homes in the Levittown School District, the numbers remained either flat or improved slightly.  A drop in the average days on market is an indicator that homes are being priced properly, as is the improvement of the ratio between sold price and list price.  A number of homes sold relatively quickly, compared to what has become the norm.  The overall trend showed improvement in comparison to the first quarter average of 2008, although there was still a decline from April of 2007.  This area continues to be a good option for first-time homebuyers.  The home sellers that price their homes to sell are likely to find a buyer in a relatively short period of time, and are also likely to maximize the amount that they can sell their home for.  Conversely, overpriced homes are still staying on the market for a longer period of time, and selling for less money.  Homebuyers will find opportunity in the area, but should be mindful of the fact that there are a number of homes that are priced to sell, and will not likely stay on the market for an extended period of time.

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

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

MARCH 2008 HOME SALES

MARCH 2007 HOME SALES

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

MARKET TREND ANALYSIS: 

The trend for home sales in the Jericho School District largely depends on the types of homes that are on the market at any given time.  There is a limited amount of statiscal data due to the amount of closings in any given month, and the numbers can be easily skewed by the sale of a luxury home.  For example, the average list price and sales price was significantly higher in March of 2007 vs. March of 2008, but most of this is due to the sale of a home for $6.5 million.  It is best to evaluate each home sale with comparable homes.

CONCLUSION:

The Jericho School District is comprised of a wide variety of homes, and there is a large gap between the homes at the lower end of the market and the luxury homes at the high end of the market.  Each home seller and homebuyer should evaluate the homes that are selling in their sector of the market.  Opportunity does exist for homebuyers that are looking to get into the area due the economic stimulus package, which has raised the FHA and Jumbo loan limits through the end of 2008.  This won't have much impact on the luxury homes in the market, but it may create an opportunity for those looking at homes in a lower price range.

The following is the March 2008 Home Trends Market Report for the Syosset 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 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.

MARCH 2008 HOME SALES

MARCH 2007 HOME SALES

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

MARKET TREND ANALYSIS: 

As is the case with many of the areas on Long Island, the home trends in the Syosset School District fluctuate from month-to-month.  However, the quarterly numbers year-over-year, have shown a modest decline in home prices.  The average days on market is slightly lower this year, and the ratio of sales price to list price remained relatively stable as well.   Inventory is also on the rise, but only by a marginal amount, as compared to the first quarter of 2007.

CONCLUSION:

Homeowners are facing more competition with the rise in inventory.  Like most areas, the homeowners that are motivated to sell their homes should price the home accordingly.  Homebuyers looking to buy a home in the Syosset School District will benefit from relatively low interest rates, and prices that have come down a bit.  In addition, the economic stimulus package has raised the FHA and Jumbo loan limits until the end of 2008.  All of these factors make for an excellent buying opportunity for those looking to get into the area.

The following is the March 2008 Home Trends Market Report for the Plainview - Old Bethpage 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 Plainview - Old Bethpage 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 Plainview - Old Bethpage 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 Plainview - Old Bethpage School District. 

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

MARCH 2008 HOME SALES

MARCH 2007 HOME SALES

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

MARKET TREND ANALYSIS: 

The trend in the Plainview - Old Bethpage School District for home sales is interesting, to say the least.  On one hand, inventory is rising, and there have been less closings, particularly in comparison to the first quarter of 2007.  The other number that is rising is the days on market.  Both of these numbers usually go hand-in-hand with a softening of home prices, but this is not the case here.  Home prices for March were the highest that they've been all year long, and the home prices in the first quarter of 2008 are very close to the home prices for the same time last year.  The bottom line for most people is sales price, and based on the statistics, the sales prices are holding their levels.

CONCLUSION:

It would appear that homeowners are now pricing their home more competitively, at least the ones whose homes are actually selling, as evidenced by the improvement in the ratio of sales price to the list price.  With inventory rising, it is important for homeowners to be priced for a competitive environment, and homes should be in the best condition possible to attract offers.

Homebuyers have an opportunity now to find the home that best fits their needs due to the amount of inventory available in the Plainview - Old Bethapage School District.  The opportunity is magnified by the fact that the economic stimulus package has raised the loan limits on FHA and Jumbo loan limits until the end of 2008, and also by the fact that interest rates are still near historical lows. 

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

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

MARCH 2008 HOME SALES

MARCH 2007 HOME SALES

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

MARKET TREND ANALYSIS: 

Based on the January and February year-over-year statistics, it appeared that the market was softening in the Bethpage School District.  However, March 2008 showed a vast improvement over March 2007.  The numbers for March of 2008 were extremely strong.  While the first quarter of 2008 was weaker than the first quarter of 2007, it is mostly due to the numbers from January and February.  If March is any indication of the trend in the area, things are definitely looking up.

CONCLUSION:

One month does not make a trend, but homeowners in the Bethpage School District should be pleased with the March numbers.  The most positive statistic is that 12 new homes came on the market during the month, and there were also 12 closings.  It is very rare in the current market to have a month where inventory did NOT increase.  Home prices are based on supply and demand, just like any other product.  When inventory is high, prices are usually dropping, and when inventory is low, prices are usually rising.  The fact that the ratio of sales price to the list price rose by 3 percentage points is also a good sign, and sales prices were higher than any other time this year.

Homeowners are pricing their homes to sell in the area, as average days on market is decreasing, and sitting a level that is lower than most areas.  Homebuyers should take into account that the media may focus on the softening national real estate market, but the fact of the matter is that the market in the Bethpage School District is showing some very positive trends.  Any homebuyers waiting for a market "bottom" may end up missing out on an opportunity to buy while interest rates are still low. Furthermore, the economic stimulus package has raised the loan limits for both FHA and Jumbo loans until the end of 2008.