Three Village 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 Three Village 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 Three Village 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 Three Village School District. 

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

MAY 2008 HOME SALES

MAY 2007 HOME SALES

YEAR-OVER-YEAR COMPARISONS 

MARKET TREND ANALYSIS: 

The numbers for May showed a decline in comparison to the first quarter average, the month of April and May of 2007.

CONCLUSION:

May was an unusual month for home sales in the Three Village School District.  There were several home sales in the entry level range, and very few in the luxury range, whereas in May of 2007 there were some big luxury home sales.  This explains the price drop compared to last year, and may be a contributing factor for the comparison to this year's numbers.

The bottom line is that inventory levels are still rising in the district, although not by as much during this month.  Homebuyers in all price ranges will have a number of homes to choose from.  This is something that home sellers should be mindful of when pricing their homes, and also making sure that their homes are in showing condition.