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Below is the Hudson Gateway Association of Realtors’ (HGAR) 2014 first-quarter report for Westchester Putnam real estate.
The region’s surge in real estate sales since early 2013 continued stronger still in the first quarter of 2014. Realtors participating in the Hudson Gateway Multiple Listing Service, Inc. reported a grand total of 2,552 closed residential transactions in the MLS’s core four county service territory in January through March, an increase of 10.8% over the 2,304 closings in the same period last year. The increase from 2012 to 2013 was 8.8%, and compared to the recessionary performance of only 1,582 closings in 2009, the 2014 volume was 61.3% higher.
The first quarter closings resulted largely from properties that were listed and marketed during the late autumn and winter months of 2013. Westchester, which accounts for about 60% of the region’s real estate sales, led the way with a powerful 19.4% sales increase in its single family house sector, and 21.0% in its cooperative unit sector. Westchester condominium sales did not follow suit, however, declining by 15.2% from last year.
The next highest year to year increases in residential sales were posted by Putnam (11.9%), Rockland (7.7%) and Orange (4.2%). In all three counties the sales gains were largely in the single family house sector. In contrast – and as in Westchester – condominium sales were lower by about 15% in Rockland and Orange, and were unchanged in Putnam (though Putnam condo sales usually are few in number, e.g.,19 as per this report).
The robust sales levels kept the pressure on to maintain the region’s inventory which, at 10,014 listed properties at the end of the quarter, was 3.9% lower than last year at this time. In the single family house sector, Orange posted the largest decrease (6.3%), followed by Westchester (3.2%), Putnam (2.6%), and Rockland (0.7%). Continue reading this report here.
To compare this report with earlier reports, visit HGAR.com.
