Plainview - Old Bethpage School District Homes ~ Market Trends Report ~ April 2008

Plainview-Old Bethpage School District Homes Market Trend Report - April 2008.  This report shows a statisical comparison between the first quarter averages and the month of April for 2008, in addition to a year-over-year comparison.  This report provides information about homes sold in the Plainview-Old Bethpage 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 Plainview-Old Bethpage 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 Plainview-Old Bethpage School District. 

This report is designed to give factual information about sales in the Plainview-Old Bethpage School District.  As is the case with many school districts on Long Island, the Plainview-Old Bethpage 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 Plainview-Old Bethpage School District.

APRIL 2008 HOME SALES

APRIL 2007 HOME SALES

YEAR-OVER-YEAR COMPARISONS 

MARKET TREND ANALYSIS: 

The home prices for April in the Plainview-Old Bethpage School District showed improvement over the first quarter average from 2008, and also over April of 2007.  The days on market was relatively unchanged.  The inventory continued to rise at about the same pace as the first quarter of 2008, but faster than April of 2007.  While sold prices were higher, so was the ratio between sold prices and list prices. 

CONCLUSION:

Based on the first quarter comparison between 2007 and 2008, and the strength of home prices in April of 2008, it would appear that the market has stabilized in the Plainview-Old Bethpage School District.  Aside from rising inventory and a lower percentage of list price, all of the other statistics were favorable for home sellers in the area.  Home sellers should realize though, that rising inventory still makes pricing properly a prudent decision.  Those homes that are priced properly and in "showing" condition are likely to get the offers closest to the asking price in a shorter amount of time.  Homebuyers in the area should be mindful of the fact that there are trends that are showing that homes prices could be on the rise, and should not approach their home buying thinking that all homes are overpriced, despite the fact that this may be the case in other areas.