2008 Median Home Values on L.I. (per Newsday) (Westbury, New Cassel: sales, loans)

[VillageOfWestbury]

I just happened to review this on line and is supposed to be based on actual sales. Some towns appeared to have taken a beating in the last couple of years which suggest that they were over-priced. Other towns have held their value or even improved over the last couple of years.....Westbury Village, in particular, has achieved the latter. According to 2008 sales, the median home value is $505K, up from $487.5K in 2007. Not to shabby considering the market...

[GCGuy]

Originally Posted by VillageOfWestbury

I just happened to review this on line and is supposed to be based on actual sales. Some towns appeared to have taken a beating in the last couple of years which suggest that they were over-priced. Other towns have held their value or even improved over the last couple of years.....Westbury Village, in particular, has achieved the latter. According to 2008 sales, the median home value is $505K, up from $487.5K in 2007. Not to shabby considering the market...

LI, and the NT metro (and NE) has weathered the downtuen quite well. People want to live here. People with means want to live here. There were more traditional loans not built on BS like in places like FLA, CA, AZ, etc. The fundamentals are still sound in most places in the region. It's the best place to live in the country.

[GigiBowman]

Originally Posted by VillageOfWestbury

I just happened to review this on line and is supposed to be based on actual sales. Some towns appeared to have taken a beating in the last couple of years which suggest that they were over-priced. Other towns have held their value or even improved over the last couple of years.....Westbury Village, in particular, has achieved the latter. According to 2008 sales, the median home value is $505K, up from $487.5K in 2007. Not to shabby considering the market...

Not to shabby considering the 'hit' Westbury has taken on this forum lately!

[Johninwestbury]

Originally Posted by GigiBowman

Not to shabby considering the 'hit' Westbury has taken on this forum lately!

In all likelyhood, the reason for the better shape of the home values is the strong prices the homes are getting in the sections of the village west of Ellison ave. As others have said, homes in this section (Westbury village...Carle Place schools) go for higher than homes in Carle Place.
The reason I assume is because the housing stock is nicer and the schools aren't Westbury. If you lopped off that section Westbury home values would be much lower.

[VillageOfWestbury]

Originally Posted by Johninwestbury

In all likelyhood, the reason for the better shape of the home values is the strong prices the homes are getting in the sections of the village west of Ellison ave. As others have said, homes in this section (Westbury village...Carle Place schools) go for higher than homes in Carle Place.
The reason I assume is because the housing stock is nicer and the schools aren't Westbury. If you lopped off that section Westbury home values would be much lower.

That is mis-leading. The portion of VoW attending CP schools is fairly small section of the Village. That's not enough to drive the consisent growth in values over the last several years. I know that homes near me routinely sell in the mid $500s to $700K range...some as high as $850+ depending on size, condition and style of home...

[Johninwestbury]

West of Ellison and North of the Parkway is where the better homes are.
I'd be suprised if the homes east of Post ave especially, like the Grand and Cross street area are doing as well.
I used to walk down there all the time, but last time I saw alot of riff-raff and wont go back, that's for sure.

[LIOC]

IF this is the page you are referring to you may want to take note that it is not about just the village of Westbury but the community of Westbury. This includes the Village, New Cassel and Salisbury. All of which have seen the growth you are refering to.

[VillageOfWestbury]

Originally Posted by LIOC

IF this is the page you are referring to you may want to take note that it is not about just the village of Westbury but the community of Westbury. This includes the Village, New Cassel and Salisbury. All of which have seen the growth you are refering to.

Point taken...although the stats refer to the VoW. Also, I'm not sure (I could be wrong), that there are many (if any) home sales over $500K in New Cassel (except for commercial properties).

[LIOC]

Originally Posted by VillageOfWestbury

Point taken...although the stats refer to the VoW. Also, I'm not sure (I could be wrong), that there are many (if any) home sales over $500K in New Cassel (except for commercial properties).

Again the stats include all the areas I listed above. If you take a look at the map of samples house sales, (sorted by year) you will see homes all throughout Greater Westbury are listed to make up the median.

My grandparents sold their home for over 500K before their move to another state (not FL ). And while 500k may not be as common as in VoW (are far from unheard of) mid 400's are. And just as the rest of the community has faired well in the house down turn so has New Cassel.