The Dix Hills, Melville, Half Hollow Hills School District 2010, January-June, Bi-Annual Housing Market Report looks at the data from several perspectives.  What is happening now in the local housing market, how that data compares to past market activity and what those indicators actually mean when evaluating future market trends.

In their May Housing Market Report, the MLS of Long Island overall showed a 31% decline in the number of contracted sales during May from one year ago.  Housing inventory increased nearly 15% and the closed median sales price stabilized at around $350,000—about 4% less than a year ago. The drop off in pending sales was anticipated after the expiration of the federal tax credit which expired April 30.

Our local stats tell a different story. That’s why it is so important to know what is happening in the neighborhood.  I hope that you will find this report helpful.  It certainly is to me.  When someone asks me “How’s the market?”  I know exactly what the answer is.  The 3-page Report is available as a pdf file.

Mortgage rates are at historically low levels.  Keep in mind that an increase of 1 point in an interest rate translates to an increase of about 10% more for the cost of a mortgage .  Buyers should consider not only the price of a home – but also the cost of that home.  The big drops in housing prices seem to have stopped.  We may bounce along for awhile—meanwhile mortgage rates will not stay in the 4%-6% range much longer.  These low rates are an anomaly.  Once they normalize the home you want—at the price you want—may cost too much when you arrange for financing.

For more information or with any questions about this report, please contact Cheryl Grossman at 631-493-0542 or cheryl@liagent.com.  Live weekly market updates for Dix Hills, Melville and other areas within Huntington Township are available for download from Altos Research Reports by clicking on the widget – upper right sidebar.

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The January, 2010 Dix Hills, Melville Half Hollow Hills School District Housing Market Report shows inventory levels about the same as last month.  Considering that during January there were 45 new listings in the Dix Hills market (vs. 12 new listings in December) and 16 in Melville (vs. 7 in December) the total numbers for both areas were surprisingly sustained – nudging up only slightly.  You can view the full report by clicking on Dix Hills, Melville SD#5 Housing Market Report, January 21010.

The  2-page Report below lists all the  Homes Entered Under Contract and Closed in January, 2010 for Dix Hills, Melville School District #5.   The report also includes market stats for each area.

If you have any questions about these reports or want more infomration please contact Cheryl Grossman at cheryl@liagent.com.

The December, 2009 Dix Hills, Melville Half Hollow Hills SD#5 Housing Market Report continues the November trend of higher sales numbers in the mid-price range.  The $700,000 to $799,999 price range is doing very well.  In December, the Dix Hills median listing price for homes entered under contract remained around the same as November:  $749,000.   In Melville, the median listing price of homes entered under contract remained at $749,000 also.    To see the full report click on the image or Dix Hills, Melville SD#5 Housing Market Report, December, 2009. 

A 2-page Report listing all homes Entered Under Contract and Closed in December, 2009 for Dix Hills, Melville School District #5 also includes market stats for each area.

If you have any questions about these reports or want more infomration please contact Cheryl Grossman at cheryl@liagent.com.

The November, 2009 Dix Hills, Melville Half Hollow Hills SD#5 Housing Market Report shows an increase in the number of mid-level home sales.  The Dix Hills median listing price for homes entered under contract increased to $759,000 in November from $659,000.  In Melville, the median listing price of homes entered under contract went down some.  The numbers are more reflective of the price ranges of homes sold than changes in market value.  To see the full report click on the image or Dix Hills, Melville Market Report

A 2-page Report listing all homes Entered Under Contract and Closed in November, 2009 for Dix Hills, Melville, Half Hollow Hills School District also includes market stats for each area. 

If you have any questions about these reports or want more information please contact Cheryl Grossman at Cheryl@LIagent.com.

The latest market report data for Dix Hills, Melville for the week of November 30, 2009 from Altos Research Reports reflects an improving housing market.  The first chart shows the absorption rate for available homes broken down into quartiles for Dix Hills.

 This chart shows price lines for each quartile in Dix Hills for the past 180 days. 

The Market Action Index shows the absortion rate of available homes broken down in quartiles for Melville.

 This chart shows price lines for each quartile in Melville for the past 180 days. 

You can find reports for every area in the Town of Huntington by clicking on the Market Reports widget above in the right sidebar.  If you want a market report from another area, please let me know.  I’ll provide one for you.  Cheryl@LIagent.com .  www.LIagent.com

The Dix Hills, Melville, Half Hollow Hills School District, Housing Market Report for October, 2009 reflects the stronger activity in the lower half of the market.   Almost all of the homes entered into contract during October were in the lower price ranges. The sales numbers continue to be strong.  With the extension of the First-Time Homebuyer Tax Credit and the expansion to include some repeat buyers (See Post) the winter months may be active for the Long Island housing market.  The Dix Hills, Melville, SD#5, Housing Market Report for October 2009 is available in a .pdf format – as is a list of homes with selling prices which entered Under Contract or Closed during October.

For more information contact me at Cheryl@LIagent.com.  To search for homes go to my website or use the Quick Search on right sidebar at top of page.

The Live Market Reports below are updated weekly from Altos Research.  Market Reports are available for every Town or zip code in The Town of Huntington.  Just click on the animated chart on the upper right sidebar, click on the Market Reports tab or fill out the request form on the left sidebar.

These Altos Research Charts for Dix Hills and Melville are Live.

If you’re a First-Time Homebuyer, Don’t Forget that to take advantage of the $8000 Tax Credit you must close on a house before November 30, 2009!

For more information or questions, please contact me at 631-493-0542 or cheryl@LIagent.com Visit my website at www.DixHillsHomes.com.

The Dix Hills, Melville, Half Hollow Hills School District 2nd Quarter, 2009 Housing Market Report shows some improvement-both in sales numbers and selling prices-since the 1st Quarter, 2009 Report. Housing prices have dropped about 10% from the same time period last year, as indicated in the 2008 Dix Hills, Melville, SD#5 Housing Market Report.   In 2008 the 2nd quarter median selling price was $707,500 in comparison to this quarter’s median selling price of $633,375.  The number of houses sold is down considerably from last year also:  58 homes closed during the 2nd quarter of 2008 vs. 38 homes closed in 2009 for the same period. 

Original Listing Price—The Median Original Listing Price of all homes currently available for sale.                                               

Avail. Current LP$—The Median Listing Price of all homes currently on the market.                                               

Under Contract LP$—The Median Listing Price at the time of contract for all homes entered Under Contract during the 2nd Quarter, 2009.                                               

Closed SP$—The Median Sales Price of all homes Closed during the 2nd Quarter.  2009

Several important indications of current market trends are found in Chart 3.  The number of sales in the $600,000 to 699,999 price range rose from the 1st quarter with 9 sales in the 2nd quarter compared to 4 sales in the 1st quarter.  These numbers along with a couple of more sales in the higher price ranges—account for the higher median selling price for the 2nd quarter—rather than an increase in market value for all homes.

The slowest sales numbers for closed sales are in the $700,000 to $999,999 price ranges—inventory is high in those ranges also.  Also note the median listing price is $849,000 and the median closed selling price is $633,375—another indication the lower price ranges are more active.

Chart 4 tracks by month the 1st and 2nd Quarter selling prices for both 2009 and 2008.

Under Contract Stats offer the most current data to indicate the direction of the market.  Even though we don’t know what the selling price is-the listing price at the time of contract is a figure to be looked at.   It represents the price at which point a buyer presents an offer that is acceptable to a seller.  How is that median listing price (at time of contract) different from the median selling price and the median price of available homes?  In the 2nd Quarter, 2009 the median listing price at time of contract is $679,000, in 2008 it was $744,000.  In the 1st Quarter, 2009 the median listing price at time of contract was $649,950, in 2008 it was $799,000.  Sales numbers are good-about the same as last year at this time and twice as many as during the 1st quarter of 2009.  All indications are that the market has improved during the 2nd quarter from the 1st quarter stats.

The breakdown by price range of homes that entered Under Contract during the 2nd quarter follows the trend that we saw in the closed numbers.  The most activity is in the $300,000 to $599,999 price range, improved numbers in the $600,000 to $799,999 price range (but more inventory) and the slowest sales and highest inventory numbers are in the $800,000 to 999,999 price range.  First-time homebuyers encouraged by the $8000 tax credit and low mortgage rates have had a positive impact on the housing market creating a movement from the “bottom up“. The market for million dollar plus homes is better than anticipated.  Except for the very high end, the sales numbers are better than a year ago.   

The housing market in our area seems ready to recover – a lot of “ifs” though.  It’s great to be able to report some positive news-with data to support it.

Note:  1st-time Homebuyers-Don’t forget that the $8000 Tax Credit expires November 30, 2009.  You must be closed on a home by that date.  

For more information or any questions, please contact me at 631-493-0542 or cheryl@liagent.com. Search all homes on MLS with mapped locations and Quick-Search Buttons at www.DixHillsHomes.com. 

The Dix Hills, Melville, Half Hollow Hills School District, Housing Market Report for June 1 to 14. 2009 indicates an increase in the numbers of homes for sale in Dix Hills and a reduced number of sales in comparison with the previous bi-weekly report.  The numbers for Melville remain about the same.  The median listing prices for both Dix Hills and Melville fairly constant – which is a good sign that the increase in the numbers of new listings has not pushed the median listing prices up.  Sometimes when homes are introduced to the market there is a tendency to list a little higher than the market price. 

The market is fairly active at this time - which should result in more houses entering into contract.  Buyers may be looking at the recent increase in interest rates and not want to “miss-out” on an affordable mortgage.  The sellers of all those homes being sold to 1st-time homebuyers are now shopping for homes.  We saw an indication of that in the previous report – with the increase in contracts in the $600,000 to $700,000 price range.   The Dix Hills, Melville, SD#5, Housing Market Report, Jun 1-14 is available in a .pdf format. 

For more information contact me at Cheryl@LIagent.com.  To search for homes go to my website.

Good News in the latest Dix Hills, Melville, School District, Bi-Weekly Housing Market Report for May 17 to 31, 2009!  A real increase in the sales numbers with the Inventory numbers down slightly for Dix Hills and about the same for Melville.  Sales continue to be more active in the moderate price ranges.  The First-Time Home Buyer $8000 Tax Credit and Low Mortgage Rates are helping in those ranges.  Remember you only have until November 30, 2009 to close on a home in order to take advantage of the Tax Credit!  The Dix Hills

We’re seeing more showings for all listings – creating more energy in the market.  Time will tell whether that activity translates into more sales!  For more information please contact me at cheryl@liaagent.com or visit my website at www.DixHillsHomes.com.