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It will be more accurate to list prices by Hamlets / School districts.. but scanning the list, here's an observation.
The better school school districts seem to have fallen hard in price.. but the % change in number of homes sold in the quarter is also huge there. Example.. 11753 has -25%, but -75% in number of homes sold.. so the 4 homes sold there could be just foreclosures or tear-downs! 11501.. Mineola has an increase in the number of homes sold.. and the purchase price! Maybe I am just reading too much into these numbers..
It will be more accurate to list prices by Hamlets / School districts.. but scanning the list, here's an observation.
The better school school districts seem to have fallen hard in price.. but the % change in number of homes sold in the quarter is also huge there. Example.. 11753 has -25%, but -75% in number of homes sold.. so the 4 homes sold there could be just foreclosures or tear-downs! 11501.. Mineola has an increase in the number of homes sold.. and the purchase price! Maybe I am just reading too much into these numbers..
The two ZIPs that my school district (Northport-East Northport 11768+11731) include seem to have fared well, but part of 11768 is also in Kings Park SD, and parts of 11731 are in Elwood SD/Commack SD. Having it by Hamlet/SD would definitely be a better indicator. Probably not so much for adjacent school districts that are all fairly ranked closely, but for others with disparate rankings between SD's, I could see the data not being very useful.
EDIT: I didn't mean to come off as sounding ungrateful, Tom - I appreciate the link.
I think the most important thing to think about when reviewing these lists is aggregating the whole picture to see the trend. Even average price of home can be deceiving when you factor in an area like say Smithtown, that might show a low drop (I do not recall the stats) or a modest rise when in fact that could have been from houses that were originally new construction and 699 in 2004, that sold for 520, which is still "above average" technically. The trend overall for the region still looks clearly down, down, down, which is no surprise.
Always remember there are lies, damn lies, then statistics
I think the most important thing to think about when reviewing these lists is aggregating the whole picture to see the trend. Even average price of home can be deceiving when you factor in an area like say Smithtown, that might show a low drop (I do not recall the stats) or a modest rise when in fact that could have been from houses that were originally new construction and 699 in 2004, that sold for 520, which is still "above average" technically. The trend overall for the region still looks clearly down, down, down, which is no surprise.
Always remember there are lies, damn lies, then statistics
Right, on aggregate, it appears that prices are down 20-25% from a year ago. You basically have to ignore the wild numbers based on 4 sales.
Yes.. totally agree. Its great information Tom. Dman and JProfess do have a point that you need to use caution looking at the data.. I think the case-shiller price index looks at the price change of a particular house rather than sales in a neighborhood. That's what I seem to understand from a CNN article.
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