Kings Park School District Homes Market Trend Report - July 2008. This report shows a statistical comparison between the month of July 2008 and the first and second quarter averages for the year, in addition to a year-over-year comparison. 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.
These 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.
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.
JULY 2008 HOME SALES
JULY 2007 HOME SALES
YEAR-OVER-YEAR COMPARISONS
MARKET TREND ANALYSIS:
The numbers for July were better than the first quarter averages, but lower than the second quarter averages. This is usually due to the fact that there are a limited number of closings each month, and the numbers can be skewed by high-end home sales and/or starter home sales. This month, a number of homes sold for below $400k, whereas last July, a home sold for nearly $2 million.
CONCLUSION:
Overall, the numbers are comparable to the rest of the year. One of the more promising numbers was the average days on market. In a buyer's market, home sales tend to take longer, but the average days on market for the Kings Park School District in July was fairly low. This usually means that homeowners are pricing their homes to sell, and not just to "test" the market. Homebuyers should take note of the fact that homes are selling rather quickly in the area (as long as they are priced correctly). Many buyers have become accustomed to taking a "wait-and-see" approach, but this tactic may result in losing a home that was a great fit. Some homes have sold in less than 2 weeks, so if you find the home that fits your needs, you would be wise to proceed without haste.
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