Kings Park 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 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.  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 Kings Park School District. 

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

MAY 2008 HOME SALES

MAY 2007 HOME SALES

YEAR-OVER-YEAR COMPARISONS 

MARKET TREND ANALYSIS: 

The May numbers showed a drop from April as well as the first quarter averages and the year-over-year comparison.

CONCLUSION:

This was a very unusual month for home sales in the Kings Park School District, as three of the home sales were below $400,000 and there was one home sale for less than $300,000.  With relatively few home sales for the month, these unusual sales heavily skewed the statistics.  There is no denying that home prices have depreciated overall from 2007, but this month may have beeen an anomoly in comparison to the 2008 trend.

Home sellers must realize that prices are definitely lower this year, and will need to price accordingly if they are truly motivated to sell.  Homebuyers, on the other hand, should look at this as a great opportunity to purchase a home in the Kings Park School District.