Half Hollow Hills School District Homes - Market Trend Report - August 2008

By
Real Estate Agent with Westcott Group Real Estate Company

Half Hollow Hills 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 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.

 

AUGUST 2008 HOME SALES

Half Hollow Hills School District - August 2008 Market TrendsHalf Hollow Hills School District - August 2008 Market Trends 

 

AUGUST 2007 HOME SALES

Half Hollow Hills School District Homes - August 2008 Market TrendsHalf Hollow Hills School District Homes - August 2008 Market Trends 

 

YEAR-OVER-YEAR COMPARISONS 

Half Hollow Hills School District Homes - August Market Trend 

 

MARKET TREND ANALYSIS: 

There was a significant drop during the month of August for home prices in the Half Hollow Hills School District, in comparison to both 2007 and the previous months in 2008.  Luxury home sales factor into the equation, but it is the lower segment of the market that is having the greatest impact.  It is rare for homes in the area to sell for less than $400K, however, there were 2 homes sold in the high $300K range, and one in the mid $200K range (which is almost unheard of).

 

CONCLUSION:

The market has definitely declined from 2007, but not to the degree that it would appear based on this month's numbers.  Since the monthly reports offer a fairly small sample size, it is easy for the numbers to show extreme fluctuations.  The inventory numbers are only slightly higher than 2007, so there shouldn't be a lot of pressure on home prices.  However, there is an ample amount of inventory, so home sellers need to price their homes to sell if they are truly motivated to move.  Homebuyers will find opportunities at a variety of price points in the area, and they should keep in mind that properly priced homes can still sell relatively quickly, so waiting for price breaks is not always the best approach.

 

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

 

 

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