Don't get me wrong, there will be more growth in the real estate market, but buyers are out ready to buy now! The growth we have seen in the Smithtown area in the past two years has been great. Home prices have risen 4 to 5 % over the past year, and will continue to grow, but there's a shift on the horizon that will slow the market down a bit. With the analytics and analysis tools, I have at my disposal I am able to plug in a zip code or address and get real-time data on whether your homes value will continue to rise, stay flat, or fall a bit. 

The below graph displays the Weiss Index for this ZIP 11787 and its corresponding Metro. A Weiss Index tracks the movement of home values for properties, ZIPs, or Metros (MSA) over time due to market conditions (meaning that changes in the condition of the properties, ZIPs, or Metros themselves will not be reflected in the index value). The index value at any given time is NOT the value of the ZIP but instead is the relative average home value of the ZIP compared to the index value of that ZIP at another point in time. For example, if the index value of a home was 150 in January 2010 and the index value of the ZIP was 100 in January 2005, then that would mean the average home value was worth 1.5 times as much in January 2010 than in January 2005 or 50% more.

Below we have sorted the homes in this ZIP into four tiers based on the attribute displayed on the selected tab. For example, if the Value tab is selected, the homes will be sorted into a low-end tier, a mid-low end tier, a mid-high end tier, and a high-end tier. Each tier has a quarter of the homes in the ZIP.

The charts below then show the Last Year performance (based on the Weiss Index), the One Year Forecast (based on the Weiss Forecast), and the Percent of Homes Rising in the tier (based on the Weiss Index) enabling you to compare how different types of homes in the ZIP are performing and to determine if certain segments of the market are stronger than others.

Looking for a report on your home? Just give me a call at 631-759-6256 and we can talk about values this year compared to predictions and then I'll send you out a report. It's that easy.