Plainview - Old Bethpage School District Homes Market Trend Report - August 2008.    This report shows a statistical comparison between the month of August 2008, the first and second quarter averages for the year, the month of July and a year-over-year comparison.  This report provides information about homes sold in the Plainview Old 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 Plainview - Old Bethpage School District.

This report is designed to give factual information about sales in the Plainview - Old Bethpage School District.  As is the case with many school districts on Long Island, the Plainview - Old Bethpage 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 Plainview - Old Bethpage School District.

AUGUST 2008 HOME SALES

AUGUST 2007 HOME SALES

YEAR-OVER-YEAR COMPARISONS 

MARKET TREND ANALYSIS: 

This was the best month of the year for home sellers in the Plainview - Old Bethpage School District.  Although the numbers are not as strong as 2007, they are certainly better than what many would expect from the media reports on the housing market.  There were more closings this month than new homes coming on the market, which means that inventory is on the decline.  Aside from having the most closings for the year, the prices were the highest, and the average days on market was the lowest.  The ratio of sold price to list price remained strong as well.

CONCLUSION:

While the numbers are not as strong as 2007, they are the best that they have been for 2008.  The fact that inventory is being absorbed faster than it is being replaced shows strength in the market.  Homebuyers looking to move into the area should take into account that there are positive signs going on, and that waiting for price drops or making very low offers may end up costing you the home that you wanted.  Home sellers still need to realize that the homebuyer mentality is still that of a buyer's market, so these positive signs must be put into perspective.

CONTACT:  Adam Waldman, RE/MAX Best, 631-357-2036, adam@adamwaldman.com