Three Village School District Homes Market Trend Report - June 2008 - Mid-Year Recap.  This report shows a statistical comparison between the months of April, May and June 2008, in addition to a year-over-year comparison.  For the mid-year recap, the first and second quarter averages are listed as well for both 2008 and 2007.  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.

While the 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, a look at the mid-year trends will be more indicative of the current market trend.  

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.

JUNE 2008 HOME SALES

JUNE 2007 HOME SALES

YEAR-OVER-YEAR COMPARISONS 

MARKET TREND ANALYSIS: 

Due to the fact that there are homes that sell in the Three Village School District for under $400K and for over $4 million, there is always going to be some fluctuation from month-to-month.  That being said, there is information that can be gathered on the market trend for the area.  The June numbers were comparable to the rest of the 2nd quarter, although slightly lower than the first quarter average.  The days on market has not shown any appreciable swings, nor has the ratio of sales price to list price.  The June numbers were higher in comparison to the June 2007 numbers, as were the overall mid-year numbers. 

CONCLUSION: 

The best way to evaluate what is happening in the Three Village School District is to look at the mid-year numbers and compare them to 2007. 

There were slightly fewer closings in 2008 in comparison to 2007, and slightly more listings came on the market.  This would indicate a rise in inventory, but the numbers are so small, that it doesn't have any bearing on the overall market trends.  The good news for homeowners in the Three Village School District is that the 2008 numbers have consistently been higher than the 2007 numbers.

It is impossible to call the bottom of a market, and in all honesty, each market will have its own bottom.  On Long Island, there are several markets, and some may rise, while others stay the same or fall.  Even though the trend is pointing upwards in the Three Village School District, it doesn't mean that homeowners should start pricing their homes like it is a seller's market.  There is still a decent amount of inventory out there, and the homes that sell will be the ones that are priced the best and in the best showing condition.

Homebuyers that are looking to move into the Three Village School District should be mindful of the fact that home prices are generally rising in the area.  Should you decide to wait it out until the media says that real estate is on the rise again, you may very well miss out on some great buying opportunities.  If the mortgage rates should tick up, even if prices remained flat, you would have less buying power. 

With some of the programs that are available right now (possibly only until the end of 2008), it is a good time to be buying in the Three Village School District.