Welcome to the NEW and IMPROVED Home Trends Market Report for homes in the Three Village School District. This will be a monthly feature going forward (formerly a quarterly feature). The report will continue to provide statistical information, but you will now also be able to see exactly where each sold home is located, how much it was listed for, how much it sold for and how many days that it was on the market.
Since this is a monthly report, there will be a smaller sampling of homes. As such, there will be greater fluctuations in the averages then there was with the quarterly reports. This report is designed to give factual information about what is happening locally. 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.
JANUARY 2008 HOME SALES
JANUARY 2007 HOME SALES
MARKET TREND ANALYSIS: Inventory is on the rise as more homes came on the market in January 2008 vs. January 2007 and fewer closings happened as well. Average sales price has deteriorated. The ratio between list price and sales price has deteriorated also, but this can be explained by one home selling for significantly below listing price. In a sample size this small, the numbers are exaggerated. This is the main reason that the average days on market seems to have taken a dramatic turn for the worse. In actuality, this is caused by having one home take almost two years to sell. In a larger sample size, this would be absorbed into the statistics and not be as noticeable. It is important to note that these trends are based on year-over-year statistics. As the year progresses, the statistics will show month-over-month trends as well.
CONCLUSION: Opportunity knocks for those looking to buy a home in the Three Village School District. Interest rates are very low, and prices are reasonable, and inventory has risen. These factors make it a very desireable time to be looking for a home in Three Village right now. If you are selling your home, it is still essential to be priced to sell. You will want to look at the homes that you are competing against, and price accordingly. A good rule of thumb is to be priced more favorably than your competition at this point. Competitively priced homes can and do sell very quickly, as you can see from the statistics above.
About The AuthorAdam Waldman is a Long Island Residential Real Estate and Relocation Specialist that can assist you with the purchase and/or sale of real estate on Long Island or any place else in the country by connecting you with a relocation professional in your destination of choice. Many Long Islanders have chosen to relocate to other parts of the country, but often times they don't have anyone to turn to for assistance. Realizing that this was an underserved market, Adam Waldman has created a team of professionals throughout the country to ensure that relocating Long Islanders enjoy a smooth transition to their new area. 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
;)
Links;)
Tags (Tag Cloud);)
Archives
You are going to be one busy agent, putting so much work into reports like this every month, Adam. I am certain that anyone interested in the Three Village School District will find this very helpful.