Dix Hills Blog and Long Island Living » SD#5

Dix Hills, Melville SD#5 Homes Under Contract & Closed, July 2009

cherylgrossman — Mon, 02 Nov 2009 18:25:20 +0000

All homes entered Under Contract or Closed in Dix Hills, Melville SD#5 through LIMLS during the month of July, 2009 are listed in this report. Want to know what a home sold for on your street or in your area? You can follow the market by checking out these lists posted during the past year. My Monthly and Quarterly Market Reports are available on this blog also. Market Reports from Altos Research for any area in the Town of Huntington or in the Metro NY area are available by filling out the request form on the Left Sidebar.

Questions or want a Market Value Report prepared for your home, please contact me at cheryl@liagent.com or 631 -223-8549

Dix Hills, Melville, SD#5 – 2008 Housing Market Report

cgrossman — Sun, 08 Mar 2009 23:34:46 +0000

2008 and 2007 Under Contract Stats

Chart 1 – Comparison of 2008 and 2007 Homes that entered Under Contract (UC) during each year. The numbers of homes UC is almost the same for each year – 3 more in 2008. The Median Listing Prices and Selling Prices are lower in 2008.

Comparison of 2008 and 2007 Homes Under Contract

Chart 2 – Comparison of Number of Homes entered Under Contract by Month -Tracked for 2008 and 2007.

2008-2007 Number of Homes Under Contract

Cheryl Grossman’s Dix Hills, Melville, SD#5 Housing Market Report for 2008 in .pdf format. SD#5 is Half Hollow Hills School District.

Chart 3 – Comparison of 2008 and 2007 Sold Homes (Those that Closed, regardless of when they were entered Under Contract). Sales numbers are slightly higher for 2008 than 2007. Listing Prices and Selling Prices are lower in 2008.

Sold Stats for 2008-2007

Chart 4 – Number of Homes Sold (Closed) by Month tracked for 2008 and 2007.

Number of Home Sales by Month for 2008-2007

Chart 5-2008 Market Data for Dix Hills, Melville, Half Hollow Hills School District #5 – Real Estate Listing Prices compared to Selling Prices at time of sale. What was the percent difference between the Median Listing Prices of Homes Closed (Sold) and Median Selling Prices of Sold (Closed) Homes.

Chart 6 – Dix Hills, Melville, SD#5 – Comparison of 2008 Quarterly Stats of Sold Homes and the Median Original Listing Price, the Listing Price at Time of Contract and the Median Selling Price at Closing.

2008 Quarterly Stats

Summary: Prices have come down, but some of the price change is due to the active sales in the more moderate price ranges. Sales Numbers are almost the same. Cheryl Grossman’s 2008 Housing Market Report in a .pdf format. Data for this report is from the LI Multiple Listing Service. If you have any questions, please contact me at cheryl@liagent.com.

Dix Hills & Melville, SD#5, Jan.1 to Mar. 6, 2009 Market Report

cgrossman — Sat, 07 Mar 2009 03:41:34 +0000

Dix Hills, Melville, SD#5 1.1.09 to 3.6.09 Housing Prices

Total # Available Homes on 3.6.09 – 218. January 1 to March 6, 2009 Total # of Houses Entered Under Contract: 26. Total # of Closed Homes; 22

Above Chart compares Numbers of Houses Available, Entered Under Contract and Closed within each price range during the January 1-March 6, 2009 time period.

Chart Below compares Median Listing Price for Available Homes and Homes Under Contract. Median Selling Price is shown for Houses Closed (Sold) Homes all during the 1.1.09 to 3.6.09 time period. Cheryl Grossman’s Dix Hills-Melville, SD#5, JAN 1 to MAR 6 Market Report in .pdf format. SD#5 is the Half Hollow Hills School District.

Dix Hills-Melville, SD#5, Housing Prices Jan 1-Mar 6,2009

Help for Long Island Housing Market!

cgrossman — Wed, 18 Feb 2009 22:49:42 +0000

Although I’m disappointed that the $15,000 tax credit for all homebuyers didn’t make it to the final Stimulus Bill, there are some incentives and an $8000 Tax-Credit for 1^st-time homebuyers, And when homeowners are able to sell their homes to 1^st-time homebuyers then they in turn will be able to “move-up” or “down-size” – thus creating ripples across the entire housing market. Along with some additional programs for 1^st-time homebuyers available from NYS, these incentives should stimulate more activity in the housing market

Details about the Homeowner and Stability Plan announced today should be enumerated within the next few days. CNN Money has some eligibility examples on their web site that are helpful. Even if not directly affected, most homeowners will see a benefit to helping reduce the numbers of foreclosures. Keeping the numbers of houses for sale to a sustainable amount will bring some needed stability to the housing market. On Long Island, we have seen an increase in the numbers of sales since December. That is very positive news for our housing market and as long as inventory levels do not increase substantially, the upward trend in sales numbers should continue. The good news is very timely, now that we are about to start the Spring Market – our busiest time.

There has been some downward pressure on the higher-end market with an increase in inventory in that price range. In Dix Hills, Melville, SD#5, there currently are 53 homes listed above $1,000,000. Since November 1, 2008, five homes in that price range were placed Under Contract. Compare that to 157 homes under $1,000,000 currently Available with 37 homes placed Under Contract since November 1, 2008. Conditions for this price range also should improve in time – even if not directly affected by the announced housing programs.

Dix Hills and Melville, SD#5 Housing Market Update Report

cgrossman — Tue, 14 Oct 2008 01:04:46 +0000

Everyone has an opinion on the housing market! But if you own a home in Dix Hills & Melville, in SD#5, you probably are more concerned about what is happening in your neighborhood. I narrowed the MLS data to show exactly what the stats are for this particular market area. Since that’s where I live too, I have a personal interest in sorting out these facts, but I plan to target other areas in the future. To view the charts in a .pdf format for better clarity click on "View the Charts" at the end of the article.

The first chart show the sales data for the first three quarters of 2008. The increase in the 3^rd quarter sales numbers and the level median sales prices for all 3 quarters is encouraging. But look at the levels of the Original Listing Prices and the Listing Prices at the time of entering into contract and at the Closed Selling Prices.

Chart 2 graphs the 2008 3^rd Quarter Under Contract Stats – in comparison to 2007.

In the 3^rd Quarter, 2008, 71 homes in Dix Hills/Melville, SD#5 went Under Contract. Of those 71 homes, 37 Closed within the same time period. The Median Selling Price of those 37 Homes is $720,000. Again a decline from the Median Selling Price of $732,500 for all homes Closed during the 3^rd Quarter – irrespective of when they entered into contract. Two positive factors are the number of homes entering into contract – 71 in 2008 vs. 53 in 2007 and the Days on the Market (DOM) are about the same this year as last.

Chart 3 graphs the 2008 3^rd Quarter Closed (Sold) Stats – in comparison to 2007

This chart indicates that the number of all homes which Closed in the 3^rd Q, 2008 is about the same as last year and that the DOM in 2008 is less than last year. The Median Listing Prices and Sold Prices are substantially less in 2008 than in 2007.

Chart 4 shows exactly what is happening in the market. Look at the spread between the Original Listing Prices of the Available Listings and the Closed Selling Prices! There is almost a $129,000 difference between the median Original Listing Price and the median Selling Price! Only when the listing price of the house is brought down to the Under Contract Price (which is the listing price of a home at the time it goes Under Contract) does it sell. Even then, the selling price is markedly lower.

Prices have declined about 10% from a year ago, but 3^rd Quarter, 2008 sales numbers are about the same as this time last year. On September 30, There were 238 Available Listings in Dix Hills and Melville, SD#5. Even though there are indications that the bottom of the market is in sight – and selling prices seem to have leveled off some – most economists don’t expect a rebound for at least a year – maybe longer. And – prices may continue to soften some. But with the lower mortgage rates, astute buyers know that now is probably the best time to buy.

My advice to sellers is to study the Comparable Listings of homes that recently went into contract. Look at the Selling Prices of the most recent Closed Comparables and price your house accordingly. The Available Listing Prices should be given the least consideration. What’s the purpose of grouping your house with those that aren’t going to sell? When a house is priced to reflect the current market and in line with current selling prices – it will sell.

Note: All the prices in the charts above are all Median Prices (half of the houses are above the price, and half are below) and the data is from the LI Multiple Listing Service. View the Charts.

Cheryl’s State of the Market Report for Dix Hills

admin — Thu, 06 Apr 2006 01:44:53 +0000

Cheryl Grossman Real Estate Market Report based on 2005 stats in Dix Hils

2005 Home Sales
Stats for Dix Hills, SD# 5

The National Association of Realtors (NAR) reported that 2005 was another record-breaking year for sales of previously owned homes – with an increase of 10.5% nationally from the year before. On Long Island, 2005 surpassed 2004’s record setting numbers. Housing prices in Nassau and Suffolk Counties increased 11% from 2004. During the last few years the dramatic rise in housing prices is partly due to low interest rates for mortgages and the continued demand for housing across Long Island. However, the LI Multiple Listing Service does report that during the last quarter of 2005, prices did stabilize. Furthermore, "despite rising residential inventory levels, demographics and the continuation of reasonable interest rates will keep the market sound and in a better sense of balance." In other words, we have gone from a "Really Great Market" to a "Very Good Market"!

I’ve compiled the 2005 market stats for Dix Hills, SD#5 to establish the basis for the housing market this year. The market stats for the first quarter of 2006 are listed as a means of comparison and perhaps an indication of where the current market is headed.

Looking at the 2005 monthly totals of when homes went into contract and when they closed is helpful in answering the question, "When is the best time to sell my home?" All of the data refers to existing-home sales and was compiled from the LI Multiple Listing Service.

The housing market fluctuates from month to month and can be influenced by outside factors. The information that follows is a "history" of what happened and should be looked at from that perspective as a guide and not as a guarantee. From the point of view of the seller, the best time to sell is when there are more buyers than homes. "Supply and Demand" has a major effect in the selling price of a home.

Dix Hills (SD #5) Stats for Existing Home Sales:

2004 Average Listing Price: $742,884
2005 Average Listing Price: $842,951
LP$ increased 13.47% from 2004

2004 Average Selling Price: $719,056
2005 Average Selling Price: $811,831
SP$ increased 10% from 2003
SP$ increased 12.90% from 2004

In 2004, houses sold for an average of 3.01% less than the price they were listed for.
In 2005, houses sold for an average of 3.28% less than the price they were listed for.

During 2004 the average amount of time it took to sell a home – or Days on the Market (DOM) – was 78 days.
During 2005 the average amount of time it took to sell a home – Days on the Market (DOM) – was 76 days.

Click here to download Cheryl’s full report, including figures and tables, in PDF format.