Half Hollow Hills School District Homes ~ Market Trends Report ~ February 2008

The following is the February 2008 Home Trends Market Report for the Half Hollow Hills 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 Half Hollow Hills 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 Half Hollow Hills School District. 

This report is designed to give factual information about sales in the Half Hollow Hills 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 Half Hollow Hills School District.

FEBRUARY 2008 HOME SALES

FEBRUARY 2007 HOME SALES

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

MONTH-BY-MONTH MARKET TREND ANALYSIS: 

There was a slight improvement in the inventory trend.  Due to a number of $1 million plus home sales, the average list price and sold price showed improvement, as did the ratio of list price to sold price.  Another encouraging sign is the shorter days on market.

YEAR-OVER-YEAR MARKET TREND ANALYSIS: 

The inventory trend improved as there was an increase in activity.  While the average list price and sold price was higher in 2007 than in 2008, it is largely due to the fact that there were fewer homes sold, and two of the homes sold for closer to $2 million.  Another factor is that one home in 2008 sold for well below average for the area.  The ratio of list price to sold price remained steady, and the days on market improved.

CONCLUSION: 

It's too early in the year to determine a true market trend, but things do seem to be improving in the Half Hollow Hills School District.  Activity increased overall, and also in the luxury home market, and the average days on market is improving.  There is a decent amount of inventory in the area, so homeowners should still be pricing competitively if they are anxious to sell their homes.