Bethpage 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 Bethpage 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 Bethpage School District.
This report is designed to give factual information about sales in the Bethpage School District. Please remember that 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 Bethpage School District.
JULY 2008 HOME SALES
JULY 2007 HOME SALES
YEAR-OVER-YEAR COMPARISONS
MARKET TREND ANALYSIS:
In comparison to the rest of 2008, the trends showed improvement in the Bethpage School District this month. Average list price and sales price were both up; the ratio of sold price to list price remained the same and the days on market was lower than it has been, which is already lower than many areas of Long Island.
CONCLUSION:
Often times, the media, and people in general, judge the market based on the numbers from the same time last year. This is a perfect example of why that method is far from accurate. In comparison to 2007, it would appear that the numbers are trending down. However, when you compare July of 2008 to the first six months of the year, you would see that the numbers are actually on the rise. There isn't a lot of inventory in the Bethpage School District, but the homes that are available are selling at a faster rate than most other areas.
Homeowners will still have to compete with the perception that is perpetuated by the media, but if this month is any indication of what is going on in the market, then the numbers are actually rising.
Homebuyers must realize that homes in this area do not tend to stay on the market for a long time. Those that are swayed by the media reports may find themselves missing out on a home that was a good fit.
CONTACT: Adam Waldman, RE/MAX Best, 631-357-2036, adam@adamwaldman.com
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