Half Hollow Hills School District Homes ~ Market Trend Report ~ May 2008

Half Hollow Hills School District Homes Market Trend Report - May 2008.  This report shows a statisical comparison between the first quarter averages and the months of April and May for 2008, in addition to a year-over-year comparison.  This report provides 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.  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 Half Hollow Hills School District. 

This report is designed to give factual information about sales in the Half Hollow Hills School District.  As is the case with many school districts on Long Island, the Half Hollow Hills 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 Half Hollow Hills School District.

MAY 2008 HOME SALES

MAY 2007 HOME SALES

YEAR-OVER-YEAR COMPARISONS 

MARKET TREND ANALYSIS: 

While the trends moved upwards in comparison to April of this year, the numbers for May are still lower than the first quarter average for the year.  The year-over-year numbers show that the numbers are deteriorating in comparison to 2007 at this time.  The average days on market increased in comparison to the rest of 2008 and also against 2007.

CONCLUSION:

Inventory continues to rise, and the market continues to soften.  Homebuyers will find a large selection of homes to choose from in the Half Hollow Hills School District, and home sellers that are looking to sell their home absolutely must be competitively priced.  The number of closings on average is far short of the amount of new listings coming on the market regularly.