Three Village 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 Three Village 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 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.

JULY 2008 HOME SALES

JULY 2007 HOME SALES

YEAR-OVER-YEAR COMPARISONS 

MARKET TREND ANALYSIS: 

While a $3.7 million home sale this July has boosted the numbers, it should be noted that the sales prices have shown strength in 2008 in the Three Village School District.  This month's numbers were not only an improvement over last July, but also over the averages for the earlier part of the year.  The most significant number to note is the amount of closings in comparison to the new listings.

CONCLUSION: 

There is still a diverse selection of homes in the Three Village School District, but homes are selling, prices have been rising and inventory is improving.  The days on market average was a drop-off from July of 2007, but the numbers are in line with the rest of this year.  The pendulum hasn't swung all the way back to the sellers, but any buyer that is looking to get into the area should not continue to wait for a market "bottom" because the current trend shows that it may have already come.  Whether or not the market has bottomed out is not going to change the fact that there is competition out there, and the homebuyers that are motivated to sell, will need to price their homes accordingly.