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Commack School District Homes - Market Trend Report - August 2008

By
Real Estate Agent with Westcott Group Real Estate Company

Commack 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 Commack 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 Commack School District.

 

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

 

AUGUST 2008 HOME SALES

Commack School District Homes - August 2008 Market Trends 

 

AUGUST 2007 HOME SALES

Commack School District Homes - August 2007 Market TrendsCommack School District Homes - August 2007 Market Trends 

 

YEAR-OVER-YEAR COMPARISONS 

Commack School District Homes - August Market Trends 

 

MARKET TREND ANALYSIS: 

August was a particularly strong month in the Commack School District in 2007, especially the inventory numbers, as there were more closings than new listings.  While the home prices were about the same in August of 2008, the inventory numbers showed an increase.  In both 2007 and 2008, the August numbers were the highest for the year (to date). 

 

CONCLUSION:

The improvement in the August numbers is likely due to the fact that spring homebuyers are motivated to be in their new home before the school year starts.  So far this year, home prices have remained fairly stable, although they have been slightly lower than 2007.  There are more homes to choose from, so home sellers must price their homes properly if they are motivated to sell.  Homebuyers will find a greater selection of homes to choose from, but it doesn't mean that they should be waiting for price breaks before making an offer on a properly priced home.  For example, a home sold for over asking price in just 14 days this month.  This home was clearly priced to sell.  Homebuyers should evaluate each home on a case-by-case basis.

 

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

Comments (1)

Russell Lewis
Realty Austin, Austin Texas Real Estate - Austin, TX
Broker,CLHMS,GRI

Hi Adam, I was just looking for ideas about market reports and your's looks like a good and concise one to follow! Thanks -Russell

Sep 10, 2008 04:34 AM