Hauppauge 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 Hauppauge 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 Hauppauge 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 Hauppauge School District.  As is the case with many school districts on Long Island, the Hauppauge 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 Hauppauge School District.

JUNE 2008 HOME SALES

JUNE 2007 HOME SALES

YEAR-OVER-YEAR COMPARISONS 

MARKET TREND ANALYSIS: 

The June numbers stayed relatively unchanged from May.  Overall, the June numbers are higher than the average so far for the year.  The most positive sign was that there were more closings and fewer homes coming on the market than eariler in the quarter.  The ratio of list price to sales price for the month of June was slightly lower than the rest of the year.  The average days on market remained in the range of the numbers for the year.

CONCLUSION: 

Overall, the numbers are down in comparison to 2007.  However, it should be noted that there is a limited amount of supply and closings to base these conclusions on.  Because of the limited amount of closings, these numbers can be easily skewed, especially when you factor in the disparity between prices at the high end of the market and the low end of the market for the area.  The most notable trend is that homes are staying on the market longer in the Hauppauge School District.

Home sellers are not facing a great deal of competition in the area, although there is some.  One of the reasons that the inventory might be lower in the area is because homeowners have a relatively low tax base compared to other areas of Long Island due to the money that is generated by the Hauppauge Industrial Park.  Despite the tax base and the low inventory, homebuyers are still looking for value in the current buyer's market.  Home sellers that are motivated to sell their home should set realistic asking prices.

Homebuyers that are looking to buy in the area have more homes to choose from than last year, but the supply is still fairly limited in comparison to other areas of Long Island.  While the average prices may have come down a bit, the numbers can be easily skewed by the sale of some high priced homes in 2007 or lower priced homes in 2008.  With changes likely coming in the mortgage market, and rates still near historic lows, it is a great time to be buying in the Hauppauge School District.