Westchester’s Second Quarter Home Prices Are Up 5%

2013 2nd Quarter From The Westchester Gateway Association of Realtors MLS

2013 2nd Quarter From The Hudson Gateway Association of Realtors MLS

According to the Hudson Gateway Association of Realtors, the median sale price in the 2nd quarter jumped 5% in Westchester County, to $650,000, the highest 2nd quarter increase since 2008. In the region consisting of Westchester, Putnam, Rockland and Orange counties, sales volume is up 24% compared with the 2nd quarter of 2012. The HGAR MLS also reported 3,445 residential real estate closings in the past quarter, with both a 23.8% volume increase in the Westchester county single family home segment and a 27.8% volume increase in the Westchester cooperative housing market. This is viewed as the beginning of a sustained recovery. The low interest rates and increased volume of transactions however has also resulted in a shrinking inventory of homes for sale in the area. Available inventory is down 13.1% over this time last year.
There were 1,425 sales of single-family homes in Westchester in the second quarter, 296 sales of condos, 391 co-op’s and 113 multi-family dwellings. There were 2,202 single-family homes sold in the first six months of 2012 in Westchester, representing a 17.1 increase from last year and the highest figure in the past four years.
For the full report see: http://cdn2.dailyvoice.com/sites/default/files/2ndqtr2013salesreportfinal_1.pdf

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