Kings Park District Homes ~ Market Trends Report ~ February 2008

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

This report is designed to give factual information about sales in the Kings Park 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 Kings Park 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 relatively flat.  The high-end market helped to improve the average list price and sold price.  Although the sample size is small, it is encouraging to see a number of homes in the $800,000 range close during the month.  Conversely, the ratio of list price to sold price deteriorated and the average days on market increased.  It's too early in the year to determine the true market trend, but it will be revealed in the coming months.

YEAR-OVER-YEAR MARKET TREND ANALYSIS: 

The inventory trend remained flat.  It would appear that the average home price increased by a large margin, but this is mostly due to a small sample size and some high-end homes closing in 2008 where none closed in 2007 in February.  The ratio of list price to sold price deteriorated slightly, but the average days on market showed some improvement.

CONCLUSION: 

It's still early in the year, but there are some positive signs so far for home sales in the Kings Park School District.  The true market trend should be determined in the next few months.  It is still advisable for motivated homeowners to price competitively and have their homes in "show-ready" condition.