Commack School District Homes ~ Market Trends Report ~ February 2008

The following is the February 2008 Home Trends Market Report for the Commack School District.  For the first time ever, this report will show month-by-month comparisons, in addition to year-over-year 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. 

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

FEBRUARY 2008 HOME SALES

FEBRUARY 2007 HOME SALES

MONTH-BY-MONTH / YEAR-OVER-YEAR COMPARISON 

MONTH-BY-MONTH MARKET TREND ANALYSIS:  The inventory trend remained steady, average list price and sold price increased on the strength of two new construction homes sold at a higher price than average, the ratio of list price to sold price remained steady, and there was an increase to days on market. 

YEAR-OVER-YEAR MARKET TREND ANALYSIS:  The amount of new listings was comparable, but less homes closed in 2008 than 2007.  The average list price and sales price increased on the strength of two new construction homes sold for above average prices.  The ratio of list price to sales price remained steady, and days on market increased.

CONCLUSION:  At first glance, it would appear that home prices are rising in the Commack School District, however, much of this gain can be attributed to a few homes selling for above average prices.  The days on market is showing an upward trend, which means that homeowners should be prepared to have their home on the market for a longer period of time.  There is still good supply of homes to choose from, so motivated sellers should plan on pricing their homes to sell.