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Plainview - Old Bethpage School District Homes Market Trend Report - June 2008 - Mid-Year Recap.  This report shows a statistical comparison between the months of April, May and June 2008, in addition to a year-over-year comparison.  For the mid-year recap, the first and second quarter averages are listed as well for both 2008 and 2007.  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.

While the 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, a look at the mid-year trends will be more indicative of the current market trend.  

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.

JUNE 2008 HOME SALES

JUNE 2007 HOME SALES

YEAR-OVER-YEAR COMPARISONS 

MARKET TREND ANALYSIS: 

The June numbers for 2008 have basically mirrored the total averages for the year in the area.  While the numbers were improved over May, they were still lower than April.  Looking back to 2007, there was also an up-and-down pattern that happened as well.  This is likely the result of either some high-end sales or some low-end sales skewing the overall numbers.

CONCLUSION: 

The trend for the year has remained relatively flat, although the home prices are lower than they were in 2007.  Approximately the same number of new listings came on the market by the mid way point of 2008 vs 2007, however, there were far fewer closings.  This results in more inventory being on the market for buyers to choose from.  It also leads to a longer days on market average, as homebuyers are exploring all possibilities before making purchase offers.

Home sellers may be encouraged by the fact that prices seem to have stabilized, although they are still lower than 2007.  Homeowners that are motivated to sell their homes must price their home for the current market.  In addition to proper pricing, the homes that sell in a buyer's market are usually in showing condition as well.

Homebuyers that are looking to move into the area should look at the current market as a buying opportunity.  While the prices are lower than they were in 2007, the trends indicate that they have stabilized.  Homebuyers have a nice selection of homes to choose from right now.  With the prices showing some stability, homebuyers would be wise to seriously consider making a purchase if you are able.  The current mortgage rates are still near historical lows, but the issues that the mortgage industry is facing may lead to a rise in rates, which would lessen hombuyers' buying power even if the home prices remain flat.