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

Plainview-Old Bethpage 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 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.

MAY 2008 HOME SALES

MAY 2007 HOME SALES

YEAR-OVER-YEAR COMPARISONS 

MARKET TREND ANALYSIS: 

The overall numbers for the month of May were down in comparison to the first quarter averages, the month of April and May of 2007.

CONCLUSION:

As is the case with many areas of Long Island, there were a few home sales that were well below average that contributed to the lower overall numbers.  Since the analysis is based on a relatively small sample size, it is easy for the numbers to be easily impacted. 

The most positive number for the month was that fewer homes came on the market than the first quarter average, the month of April or even May of 2007, while more closings took place.  This means that inventory grew at a smaller rate.  However, there is still a decent amount of inventory available in the Plainveiw - Old Bethpage School District, so homeowners that are that interested in selling their home must be competitively priced.

Homebuyers that are interested in moving into the area are finding good opportunities below the $500,000 mark.  This was rare in previous years.