Adam Waldman - Long Island REALTOR®

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.

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

MARCH 2008 HOME SALES

MARCH 2007 HOME SALES

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

MARKET TREND ANALYSIS: 

The home prices in the Three Village School District have more fluctuation than most other areas.  This is mainly due to the fact that there is a wide disparity between home prices for starter homes and the prices for high-end luxury homes.  This makes it much more difficult to identify market trends based on price.  In this type of market, it is much more prudent to look at numbers such as inventory, ratio of sales price to list price and average days on market.  Based on these numbers, it shows that the market is slightly declining.  Inventory is increasing on both a monthly and quarterly year-over-year basis.  During the first quarter of 2008, the ratio of sales price to list price deteriorated, while the average days on market increased.  All of these signs point towards a buyer's market for the area.

CONCLUSION:

It is essential that homeowners looking to sell their homes take a good look at the comparables for other homes in their immediate area and price range.  Being that the Three Village School District is so large, it is difficult to use such a broad spectrum report to determine a market trend.  It's possible that part of the market could be rising while another segment of the market could be declining.  Although this is true in all areas, the laws of supply and demand are much more impactful in this area.  If there are a limited amount of luxury homes, the market may very well command top dollar.  On the other hand, if there are a large number of similar starter homes, the buying public will gravitate towards those homes in the best condition and priced the most competitively.

If you are a buyer looking to get into the Three Village School District, there are some very good buying opportunities.  The increase in inventory bodes well for buyers as it pressures sellers to price their homes competitively.  The economic stimulus package, which raised FHA and Jumbo loan limits until the end of 2008 should be a great incentive for those looking to buy in the area.  Mortgage rates are still near historical lows, inventory is up and prices have come down a bit, making this an ideal time to be buying a home in the Three Village School District.

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.

MARCH 2008 HOME SALES

MARCH 2007 HOME SALES

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

MARKET TREND ANALYSIS: 

The market trend for homes in the Commack School District shows that home prices are declining slightly, and that the market is very much a buyer's market.  Overall, market conditions deteriorated for the month of March, as list price, sales price and ratio of sales price to list price all declined.  The average time on market remained relatively close to what it has been over the past few months, and also in the first quarter of 2007.  Inventory has been increasing at about the same rate as it did for January and February, but at a higher rate than the first quarter of 2007.

CONCLUSION: 

If you are a seller in the Commack School District, there is competition due to the inventory.  The homes that are selling are usually doing so in around four months.  Sellers that are motivated should be pricing their homes for the current market conditions, and take into account the other homes that are on the market, as they are competing for the same buyers.

If you are a buyer looking for a home in the Commack School District, you have an opportunity to find a home at a good price and/or in move-in condition.  The increase in the FHA and Jumbo loan limits, which are in effect until the end of 2008, should prove beneficial for those that are looking for financing to move into the area.  Mortgage rates are still relatively low, so this is an excellent time to be shopping for a home in the Commack School District.

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

MARCH 2008 HOME SALES

MARCH 2007 HOME SALES

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

MARKET TREND ANALYSIS: 

So far, it's been an up-and-down trend for the year for home sales in the Smithtown School District.  While there is a decent amount of activity in the area, the fluctuations in the market are usually caused by a handful of luxury home sales.  Inventory for the first quarter of 2008 is rising, particularly in comparison to the first quarter of 2007, although there has been improvement this March vs. last March.  Year-over-year, both list price and sales price is down, as is the ratio of sales price to list price.  Days on market has remained relatively constant throughout this year, and also in comparison to the first quarter of 2007.

CONCLUSION:

It is definitely a buyer's market in the Smithtown School District.  Homeowners that are motivated to sell MUST price their homes competitively and/or have the homes in "showroom" condition.  There is significant competition, and that competition should be factored in when pricing your home before listing.  This is definitely not the time to be testing prices to see how the market responds.  Those that are priced to sell will have the most activity on their homes, and will receive the most traffic, and eventually, the best offers.

Buyers are in a good position when looking for a home in the Smithtown School District.  There is a decent amount of inventory, and home prices have come down.  In addition, the increase in FHA and Jumbo loan limits until the end of 2008.  Interest rates are still near historical lows, making this an ideal time to be looking for a home in the area.

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

MARCH 2008 HOME SALES

MARCH 2007 HOME SALES

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

MARKET TREND ANALYSIS: 

The Kings Park School District is an area that is prone to extreme fluctuations from month-to-month and year-over-year because of the large disparity between home prices for starter homes and luxury homes.  Additionally, there is a limited amount of market data available due to the amount of closings that take place each month.  The best way to determine the market trend for the area is to look at factors such as inventory, ratio of sales price to list price and average days on market.  In this case, the inventory has remained relatively steady, as has the ratio between sales price and list price.  The most encouraging sign is that the average days on market has shown dramatic improvement this year vs. the first quarter of 2007.

CONCLUSION:

It seems that sellers in the Kings Park School District are pricing their homes much more competitively than they were in 2007, as evidenced by the reduction in average days on market.  This is exactly the correct approach to take in today's market.  As I mentioned previously, the market statistics can be skewed by the sale of a high-end luxury home, but it's a positive sign that the average listing price and sales price has increased slightly in the first quarter of 2008 vs. the first quarter of 2007.  This increase, factored in with the reduced days on market for the homes that sold, are indicators that the market trend is improving.

Buyers that are interested in buying a home in the Kings Park School District should strongly consider doing so sooner rather than later.  Home sellers are pricing the homes more competitively, so homes are selling more quickly.  Inventory is in about average, and mortage rates are still near historical lows.  The economic stimulus package has raised the FHA and Jumbo loan limits for the rest of 2008, so the timing couldn't be better to be buying in the area.