Below are excerpts from the Hudson Gateway Association of Realtors’ (HGAR) 2012 first-quarter report for Westchester Putnam real estate.
[In Westchester] single-family house sales increased by 1.4% and condominium sales by 5.0%, but co-operative unit sales were 3.0% fewer than last year’s, and 2-to-4-family house sales were down by 8.8%.
In Putnam County, single-family house sales were down by 19.4% from last year.
The number of closed real estate sales among all types of residential properties in Westchester County…exceeded those of the first quarter of 2011 by…one-third of one percent.
Average prices continued their downward slide. The median sale price of a Westchester single-family house…was the lowest … median since 2002.
Westchester-Putnam prices are exceptionally low,…and exceptionally affordable for first time buyers.
Average mortgage interest rates…remain at record low levels.
The foreclosure situation in Westchester is manageable and is not depressing the local real estate market.
What’s needed to firmly rejuvenate our real estate market is widespread confidence that these favorable factors will persist.
Read the complete 5-page report here.
To compare this report with reports going back as far as 1981, visit Market Statistics at www.HGAR.com.
