Kings Park 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 Half Hollow Hills 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.
AUGUST 2008 HOME SALES
AUGUST 2007 HOME SALES
YEAR-OVER-YEAR COMPARISONS
MARKET TREND ANALYSIS:
For the first half of the year, home prices remained relatively flat in comparison to 2007. In July, the numbers started to decline, and while they improved in August, they are still lower than 2007. This may be due to the fact that more luxury homes were sold in 2007 than 2008. The inventory numbers have risen slightly, but not by a margin large enough to put pressure on home prices. The ratio of sold price to list price remained strong, and the average days on market rose slightly.
CONCLUSION:
It remains to be seen if the decline that has happened in July and August from 2007 is a new trend or just a result of the types of homes that are selling (luxury vs. starter).
CONTACT: Adam Waldman, RE/MAX Best, 631-357-2036, adam@adamwaldman.com
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