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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.

 

Smithtown 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 Smithtown 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 Smithtown School District.

 

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

 

JULY 2008 HOME SALES

 

 

JULY 2007 HOME SALES

 

 

YEAR-OVER-YEAR COMPARISONS 

 

 

MARKET TREND ANALYSIS: 

Despite the fact that the numbers are drastically lower than July of 2007, there are positive signs for the prices in the Smithtown School District.  The disparity between the average sale and list prices from last July to this July is directly attributable to the fact that there was a home sold for $11 million last year in July.  This one sale heavily skewed the market data.

 

CONCLUSION: 

There is still an increase of inventory happening in the Smithtown School District, however, the prices have continued to edge up a bit all year long.  The average days on market has shown some improvement, and the gap between closings and new listings narrowed by a slight margin in comparison to the first two quarters of this year.  Homeowners that are motivated to sell their homes should take into account the fact that there is a lot of competition in the area, and should price accordingly.  Homebuyers should realize that there are homes that are priced to sell, so it is not a good idea to take a "wait-and-see" approach if you find the home that you really want.  Some homes are still selling within a matter of weeks.

 

Kings Park 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 Kings Park 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.

 

JULY 2008 HOME SALES

 

 

JULY 2007 HOME SALES

 

 

YEAR-OVER-YEAR COMPARISONS 

 

 

MARKET TREND ANALYSIS: 

The numbers for July were better than the first quarter averages, but lower than the second quarter averages.  This is usually due to the fact that there are a limited number of closings each month, and the numbers can be skewed by high-end home sales and/or starter home sales.  This month, a number of homes sold for below $400k, whereas last July, a home sold for nearly $2 million. 

 

CONCLUSION: 

Overall, the numbers are comparable to the rest of the year.  One of the more promising numbers was the average days on market.  In a buyer's market, home sales tend to take longer, but the average days on market for the Kings Park School District in July was fairly low.  This usually means that homeowners are pricing their homes to sell, and not just to "test" the market.  Homebuyers should take note of the fact that homes are selling rather quickly in the area (as long as they are priced correctly).  Many buyers have become accustomed to taking a "wait-and-see" approach, but this tactic may result in losing a home that was a great fit.  Some homes have sold in less than 2 weeks, so if you find the home that fits your needs, you would be wise to proceed without haste.

 

Half Hollow Hills 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 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 Half Hollow Hills School District.

 

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

 

JULY 2008 HOME SALES

 

 

JULY 2007 HOME SALES

 

 

YEAR-OVER-YEAR COMPARISONS 

 

 

MARKET TREND ANALYSIS: 

While the numbers continue to be lower than 2007, it does not necessarily mean that homes prices are on the decline.  Based on the numbers from this year, July actually was a better month than either of the first or second quarter averages.  The average days on market showed improvement, as it was comparable to 2007.

 

CONCLUSION: 

There is still a decent amount of inventory in the Half Hollow Hills School District, but the inventory numbers are not increasing at the rate that they once were.  Overall, the home prices were the strongest of the year during July.  Homeowners should keep in mind that there is competition out there, and those that are truly motivated to sell their homes should be sure to price their home accordingly.  Homebuyers will still find some good opportunities in the Half Hollow Hills School District, but they should also be ready to make offers if the "right" home comes along.  Properly priced homes can still sell within a matter of weeks.

 

Hauppauge 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 Hauppauge 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 Hauppauge School District.

 

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

 

JULY 2008 HOME SALES

 

 

JULY 2007 HOME SALES

 

 

YEAR-OVER-YEAR COMPARISONS 

 

 

MARKET TREND ANALYSIS: 

The trends continue to fluctuate in the Hauppauge School District mainly due to the timing of sales.  In the months where more high-end homes are sold, the numbers are higher and vice versa for entry level homes.  Perhaps the most interesting trend is the fact that selling prices and listing prices were very close to each other, indicating that the homes that properly priced are selling for very close to asking price.

 

CONCLUSION: 

The 2008 numbers have been much more volatile than the 2007 numbers, which remained relatively flat for several months at a time.  Homeowners should continue to price their homes to sell in what is still considered a buyer's market.  Homebuyers are finding opportunities to purchase starter homes in the high $300k - low $400k range.  This has not been the case in the recent past, and there telling how long this opportunity will last.  Since the taxes in the area are lower than surrounding areas, it is an excellent time to be looking for a home in the Hauppauge School District.

 

Commack 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 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.

 

JULY 2008 HOME SALES

 

 

JULY 2007 HOME SALES

 

 

YEAR-OVER-YEAR COMPARISONS 

 

 

MARKET TREND ANALYSIS: 

In comparison to the first and second quarter averages of this year, and July of 2007, the home prices have declined.  This is only one month, and this does not necessarily indicate that home prices are in a downward trend.  Based on the statistics from the first two quarters of the year, home prices have basically flattened out.

 

CONCLUSION: 

Opportunities exist in the Commack School District for the first-time homebuyer, as evidenced by fact that five homes closed for under $400K this month.  However, the overall numbers are likely skewed downwards because of the fact that there were no high-end home sales in July.  The inventory numbers are tightening, and the ratio of sold price to list price is on the rise.  This would seem to indicate that homeowners are pricing their homes more competitively, and fewer homeowners are pricing their homes to "test" the market.  Homebuyers should take into consideration the fact that homes are priced more competitively, and that inventory is not as high as it once was.

 

Salespeople in every industry usually work on a commission basis.  Some may have a small salary or a draw against commission, but ultimately, a salesperson's compensation usually has a direct correlation to closed transactions.  Because of this, salespeople sometimes will tell people what they think that they want to hear rather than telling them the truth.  This is pervasive in the world of sales, and not limited to any particular industry.

 

In a recent post entitled, The Lost Art of Listening, I spoke of my experience in dealing with salespeople trying to get me to purchase a timeshare.  The post was about how the salesperson didn't listen to the answers of the questions that he asked, which resulted in him trying to show us the benefits of something that we clearly stated that we had no interest in.  Ironically, he didn't seem to listen to his own presentation either, as he contradicted himself within a matter of minutes.

 

We were taken on a tour of an existing timeshare unit.  It was built in 2001, and was in decent shape.  The layout featured a kitchen, dining area, living room and full bathroom downstairs and two bedrooms and a full bathroom upstairs...plenty of space for a comfortable family vacation.  The salesperson told us that the couch in the living room was a sofa bed, and suggested that we could bring guests along on vacation and still have the privacy of the bedrooms being upstairs.  Nice feature, clear benefit.  So far, so good.

 

After touring the entire unit, we returned to the kitchen to see the floor plan of the new units that were under construction.  The company that was selling the new units was not the builder of the model that we toured with the bedrooms upstairs, although they have some sort of working relationship that wasn't made very clear.  In any case, the new units featured some nice upgrades, and look like they are going to be even better than the existing units. 

 

The biggest difference between the unit that we toured, and the units that are being built (aside from the upgrades) is that the new units have all of the living space on one level.  Had the salesperson just shown us the floor plan and talked about the upgrades and the amenities in the new units, everything would have been fine.  But here is where he made a mistake.  After selling us on the benefit of having bedrooms upstairs just moments earlier, he proceeded to point out that the new units were better because we wouldn't have to "lug all our bags up a flight of stairs." 

 

This was a tremendous presentation error in my mind, although in fairness, I am a sales professional that notices inconsistencies more than the average person.  My wife didn't notice this until I pointed it out, although it may be because she was more focused on my daughter than what the salesperson was saying.  Whether it was caught or not, it was a mistake to tout the benefits of the old unit having stairs, then talking about the negatives of stairs and touting the benefits of the single-level living space featured in the new units.

 

One of the biggest problems existing in the real estate profession today is that too many agents and brokers spend their days telling people what they think that they want to hear, in order to obtain their business, rather than telling people what they need to hear to have a successful transaction.  We need look no further than the abundance of overpriced homes on the market.  If agents and brokers stood their ground and refused to take overpriced listings, there would be less inventory of homes on the gap between supply and demand would begin to close.

 

Just as the salesperson telling us what he thought we would want to hear, agents and brokers do the same thing everyday with homeowners.  In the end, no one really benefits from this practice.  Overpriced homes don't sell, so there is no benefit to the owners of these homes.  The agents don't benefit because they are spending money to market homes that aren't going to sell.  Even though the agent might find a buyer or two, the reality is that overpriced homes get very little traffic, so this benefit is far from being a certainty.

 

This problem extends to homebuyers and their agents as well.  How many times will an agent take a buyer to a home that is clearly out of their price range because the buyer requested to see it?  In the current market, many buyers have convinced themselves that they can "steal" a home because they feel that most sellers are desperate and that every listing price is very negotiable.  Some homes are drastically overpriced, while others are priced to sell.  Agents are not helping these homebuyers if they tell them to "just make an offer." 

 

What happens if the home truly is priced to sell, and it is everything that the homebuyer is looking for?  The most likely outcome is that they will not get their offer accepted, and then they will compare every home that they look at in the future to the one that they thought they could purchase because an agent told them to "just make an offer."

 

Some people tell people what they think that they want to hear because they don't want to offend them or hurt their feelings.  Others do it because they are more concerned about getting business then filling a need for the client / consumer.  Regardless of the reason, telling people what you think that they want to hear is not likely to produce a positive outcome.  If you are honest with people, and genuinely look out for their best interests, you will be respected and more likely to achieve success. 

 

The following is a Long Island Real Estate Market Trend Report featuring mid-year statistical trends from six school districts in Suffolk County and six school districts in Nassau County.  

 

The market reports provide a year-over-year comparison (2007 vs. 2008) of June home sales, in addition to year-over-year comparisons of the first quarter and second quarter statistics.  Broken down by school district, the mid-year market trends reports provides information about listing price, sales price and average days on market.

 

By looking back at the year-to-date sales, you will be able to determine the real estate trends in most markets.  Some of the luxury markets have less transactions, and wider price fluctuations, so the trend is not always as clear.

 

In addition to the market trend reports for the 12 school districts across Nassau and Suffolk County, you can also track the trends of Waterfront homes, New Construction and Bank Owned Homes.

 

Below, you will find links to each of the 12 mid-year market reports.  

 

SUFFOLK COUNTY

 

Hauppauge School District Homes ~ Mid-Year Market Trend Report ~ June 2008

 Commack School District Homes ~ Mid-Year Market Trend Report ~ June 2008

Smithtown School District Homes ~ Mid-Year Market Trend Report ~ June 2008

Three Village School District Homes ~ Mid-Year Market Trend Report ~ June 2008

Kings Park School District Homes ~ Mid-Year Market Trend Report ~ June 2008

Half Hollow Hills School District Homes ~ Mid-Year Market Trend Report ~ June 2008

  

 

NASSAU COUNTY

Syosset School District Homes ~ Mid-Year Market Trend Report ~ June 2008

 Jericho School District Homes ~ Mid-Year Market Trend Report ~ June 2008

Plainview - Old Bethpage School District Homes ~ Mid-Year Market Trend Report ~ June 2008

Hicksville School District Homes ~ Mid-Year Market Trend Report ~ June 2008

Levittown School District Homes ~ Mid-Year Market Trend Report ~ June 2008

Bethpage School District Homes ~ Mid-Year Market Trend Report ~ June 2008

 

 

Long Island Waterfront Homes

Long Island Waterfront Homes ~ Mid-Year Market Trends Report ~ June 2008

 

 

  

 Long Island New Construction Homes

Long Island New Construction Homes ~ Mid-Year Market Trends Report ~ 2008

 

  

 

 

Long Island Bank Owned Homes

Long Island Bank Owned Homes ~ Mid-Year Market Trends Report ~ 2008

 

 

  

Long Island Waterfront Homes WEEKLY UPDATE:

There are a variety of waterfront homes to choose from on Long Island (ocean, sound, bay, river, canal, lake). 

 

This weekly post comes out each Friday, showing the new waterfront homes that came on the market on Long Island during the previous week.  Beyond this weekly list, you can find many other waterfront homes available as well. 

 

If you are interested in purchasing a waterfront home, please feel free to contact me, and I would be happy to do a search based on your specific search criteria (including the type of water that you are interested in). 

 

You can check back weekly for updates, or if you'd prefer, you can contact me and be put onto a list of people that receive this update via e-mail.  My contact information is listed at the bottom of the page.

 

If you have any questions about purchsing waterfront home, please feel free to post it in the comments section, or you can contact me directly via e-mail or phone. 

 

 

***LONG ISLAND WATERFRONT - THINGS TO DO***  

 

The Waterfront Center of Oyster Bay - Interested in learning how to sail? Kayak?  Learn more about Long Island marine life?  Check out The Waterfront Center of Oyster Bay.

 

 

 

Long Island Waterfront Homes (NEW On The Market - Week Ending 7/25/08)

 

SUFFOLK COUNTY

 

  

NASSAU COUNTY

 

 

 

About The Author

Adam Waldman is a Long Island Residential Real Estate Professional that can assist you with the purchase and/or sale of real estate on Long Island, from bank owned homes to new construction to waterfront property, and everything in between. Adam is also a Relocation Specialist that has created a network of real estate professionals throughout the country in an effort to assist relocating Long Islanders in their transition to new areas. These professionals are experts in the field of relocation and can serve many purposes beyond a simple home search.

Please visit www.TheLIReloGuy.com for your relocation needs and www.AdamWaldman.com for your local needs.

Adam Waldman - RE/MAX Best - 631-357-2036 - adam@AdamWaldman.com

Long Island New Construction Homes weekly update:

 

This weekly post shows the new construction listings that came out during the previous week.   

 

The new construction homes listed below came on the market between 7/18 - 7/24/08.  Beyond this list, there are many other new construction homes available as well.  If you are interested in purchasing new construction, please feel free to contact me, and I would be happy to do a search based on your specific search criteria. This information will be posted each Friday.  You can check back weekly, or if you'd prefer, you can contact me and be put onto a list of people that receive this update via e-mail.  My contact information is listed at the bottom of the page.

 

If you have any questions about purchsing a new construction home, please feel free to post it in the comments section, or you can contact me directly via e-mail or phone.  

 

***BREAKING NEWS***

Long Island New Construction Homes ~ Mid-Year Market Trends Report ~ 2008 - Check out the market trends for the new construction market on Long Island.  This report compares 2008 to 2007.

 

 

Long Island New Construction Homes (NEW On The Market - Week Ending 7/25/08)

 

SUFFOLK COUNTY 

 

 

NASSAU COUNTY 

 

About The Author

Adam Waldman is a Long Island Residential Real Estate Professional that can assist you with the purchase and/or sale of real estate on Long Island, from bank owned homes to new construction to waterfront property, and everything in between. Adam is also a Relocation Specialist that has created a network of real estate professionals throughout the country in an effort to assist relocating Long Islanders in their transition to new areas. These professionals are experts in the field of relocation and can serve many purposes beyond a simple home search.

Please visit www.TheLIReloGuy.com for your relocation needs and www.AdamWaldman.com for your local needs.

Adam Waldman - RE/MAX Best - 631-357-2036 - adam@AdamWaldman.com