Kings Park 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 Kings Park 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 Kings Park 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 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.

JUNE 2008 HOME SALES

JUNE 2007 HOME SALES

YEAR-OVER-YEAR COMPARISONS 

MARKET TREND ANALYSIS: 

The June numbers were the best of the year so far.  There were more closings and less inventory coming on the market than any other time during the year.  The average list price and sales price were both above the average for the year, and significantly higher than the same time last year.

CONCLUSION: 

The extreme price range in the area can cause fluctuations on a month-to-month basis.  However, if you look at the overall 2008 numbers for the first half of the year, and compare them to the overall first half numbers of 2007, you will see that the market has remained relatively flat.

In 2008, there have been less slightly fewer closings, and slightly more inventory coming on the market.  The average list price and sales price for 2008 is down very slightly from 2007, and it's possible that either a very expensive home closed in 2007, or a very inexpensive home closed in 2008. 

Home sellers should note that the gap between homes coming on the market and homes closing has widened.  Although the prices may be flattening, and no longer in decline, the homes that will close will be the ones that are priced properly and in showing condition.

Homebuyers should note that the numbers for June showed a marked improvement, and it's possible that home prices will continue to rise.  With the current issues in the mortgage industry, and the possibility of rising prices, homebuyers that choose to wait and see where the market is going may end up having less buying power when they finally decide to make a purchase.