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The following is the March 2008 Home Trends Market Report for the Plainview - Old Bethpage School District.  This report shows month-by-month comparisons, in addition to year-over-year market trends.  Since this report comes at the end of the first quarter of the year, there is also a comparison of the year-over-year quarterly market trends.  This report provides statistical information about homes sold in the Plainview - Old Bethpage School District including:  location of homes, list price, sold price and days on market.

It is important to note that 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.  The quarterly market trend has more data, and as such, gives a more accurate look at the current market trend.  However, it should be noted that the market data is still relatively small and subject to extreme fluctuations based on sales that are atypical of the rest of the sales in 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.

MARCH 2008 HOME SALES

MARCH 2007 HOME SALES

MONTH-BY-MONTH & FIRST QUARTER YEAR-OVER-YEAR COMPARISONS 

MARKET TREND ANALYSIS: 

The trend in the Plainview - Old Bethpage School District for home sales is interesting, to say the least.  On one hand, inventory is rising, and there have been less closings, particularly in comparison to the first quarter of 2007.  The other number that is rising is the days on market.  Both of these numbers usually go hand-in-hand with a softening of home prices, but this is not the case here.  Home prices for March were the highest that they've been all year long, and the home prices in the first quarter of 2008 are very close to the home prices for the same time last year.  The bottom line for most people is sales price, and based on the statistics, the sales prices are holding their levels.

CONCLUSION:

It would appear that homeowners are now pricing their home more competitively, at least the ones whose homes are actually selling, as evidenced by the improvement in the ratio of sales price to the list price.  With inventory rising, it is important for homeowners to be priced for a competitive environment, and homes should be in the best condition possible to attract offers.

Homebuyers have an opportunity now to find the home that best fits their needs due to the amount of inventory available in the Plainview - Old Bethapage School District.  The opportunity is magnified by the fact that the economic stimulus package has raised the loan limits on FHA and Jumbo loan limits until the end of 2008, and also by the fact that interest rates are still near historical lows.