2009 2nd Quarter Residential Real Esate Sales Report

Westchester and Putnam Counties, New York
Here is a copy of the report put out by the Westchester County Board of Realtors. It can also be found at the website at www.wcbr.net. In this first page you will see the seasonally adjusted Quarterly Sales from 2004 - 2009. Over last quater 19% increase but in comparison to previous 2nd Quarters it is down.

Westchester SOLD Homes

It is time to take a look at what has happened in a segment of Westchester. Realtors know the area as area 3,4 and 6. Comprising White Plains, Ardsley, Tarrytown, Sleepy Hollow, Pleasantville, Hawthorne, Ossining, Irvington, Dobbs Ferry, Hastings on Hudson,Briarcliff Manor, Valhalla, Hartsdale, Bronxville, Tuckahoe and Elmsford.

So in the last 6 months looking at the inventory for single family homes under $620,000 there are presently:
-- 360 homes active and of within the last 6 months
-- 70 are in conditional contract awaiting a mortgage commitment letter
-- 33 are pending a sale after an acceptable offer
-- 150 SOLD with in the last 6 months.
-- 257 Total homes that are no longer active out of 617. Hmmm... that is a little less that 50% that are headed toward SOLD... but there are those 360 that are still active. The Average Days on the Market for these homes over $400k and less than $620k is 176. But that is the days they were on the market with the last REALTOR who SOLD the property. If you add on approximately 90 days give or take for average sake you get 266 days on the market...

Of the Cities, Villages and Towns the ones that are no longer active are:
-- 14 Tarrytown
-- 69 White Plains
-- 23 Ossining
-- 11 Briarcliff Manor

So, people are buying more homes in this price range than in the over $620k range since I have found that in the same areas noted above that there are:
-- 910 active listings from $621 - whatever.
-- 86 in conditional contract
-- 78 pending
-- 155 Sold
-- 319 Total that are no longer actively on the market. 30% difference of the 910 that are actively on the market. And the Days on the Market for this price range is 209... Give or take... it is probably 300 days plus they are on the market.

There you have it... Westchester RealEstateIsTalking.com

Tarrytown Condos that are selling

Tarrytown Condos are selling...
In the last 6 months 10 have closed, 6 have gone into contract and 2 are pending a closing date. The average list price of those going into contract is $444k. The average SOLD price in Tarrytown is $462k. But most notable of the condos that SOLD in Tarrytown is that of the 10; 8 are under $500k. And there are 9 active listings still on the market over $500k. If you look at the Days on Market (DOM) you will note that they have been on for over 200 days. The average days on the market for those SOLD in Tarrytown is 161. Minus 60 days or so to get a mortgage commitment that leaves you with 100 days to get an acceptable offer.

Westchester Home Sales (Condo) Closings Fall

According to the WCBR update "In Depth" article to REALTORS of Westchester there are many new statistics amidst "the first quarter normally posts the lowest closed sales volume of the year sine it follows upon reduced sales activity during the holiday season and winter months. However, when the data are adjusted for such seasonality, the first quarter 2009 rate of closings was down 31% from the fourth quarrter of 2008. The 850 Westchester closings were equivalent to an annual rate of only 4,230 sales, the lowest pace recorded by the Multiple Listing Service since the 1985-1990 period.

Prices decreased too. The first quarter median sale price2 of a single family house in
Westchester was $532,000, a decrease of $90,500 or nearly 15% from last year. That
price level was last seen in 2003. The Putnam County median of $411,250 was 20%
lower than last year’s. The Westchester decrease, however, was not all a case of acrossthe-
board price depreciation. Rather, much of it reflected a severe contraction in the
volume of high-end sales. Houses selling for $1 million or more accounted for only 13%
of all sales in the first quarter whereas prior quarters have posted 20% or more. As a
result of this change in the contents of the real estate market basket, the mean2 sale price
of a Westchester house fell to $695,176, a very large 26% decrease from last year.
The condominium and cooperative sectors fared better. The median sale price of a
Westchester condominium was $352,000, a decrease of 7% or $28,000 from last year.
The median sale price of a Westchester cooperative unit actually increased by 2%, to
$179,500.

Tarrytown Condo Update

Tarrytown condos are sorta moving. There are 26 active listings: 3 in Tappan Manour (15 mins walk to the train), 2 in Halson House, 1 in Landmark on Broadway (4 mins walk to the train), 5 in Edgemont (very long walk to the train and some walk to your garage), 4 in Carrolwood (built in the early '80s - car ports), 5 in The Quay of Tarrytown (13 mins walk to train station, river front community) and 3 in Wyldwood (newer condo community).

So... what most recently saw activity? Halston House, Carrollwood and Edgemont. The average $/SqFt for those in contract is $287. the average active listing is $301. The SOLDS over the last 6 months is @282.

The Tappan Manour Condos have kept their value since they are the entry point for Tarrytown. They are simplex, Garden walk up apartments. Built in 1952. Halston House is elevator with laundry on the same floor. Built in 1969. The landmark is a converted school with nicely laid out simplexes and duplexes. The Quay was built in 1981 and are all town houses.

NY housing market posts sales and price gain in March

For the first time in 2009, the New York State housing market posted a gain in sales and selling price in a month-to-month comparison, a strong signal to buyers waiting for the market to “hit bottom” that they may well have already missed it.
Sales jumped 14.1 percent to 3,903 in March compared to February, and the statewide median sales price rose 6 percent to $222,500 to reach its second highest level in the past 12 months, according to preliminary single-family sales data accumulated by NYSAR.

E-News from the New York State Association of REALTORS

Map of Sold pre 1900 Tarrytown homes

Tarrytown

Tarrytown Homes built pre 1900 since 2000

Tarrytown has some wonderful homes built prior to 1900. I thought it would be interesting to note their sales history since 2000.
The stats noted below are taken from the Westchester Putnam MLS and are not guaranteed.

In 20000 - 1 Sold
01 - 1
02 - 5
03 - 4
04 - 5
05 - 7
06 - 7
07 - 3
08 - 1
09 none as of yet

So it looks like '05 and '06 saw a peak in sales for vintage homes. Not by much of course.

You may want to drive by and take a look here is a map.

Chappaqua Home Price Comparison Year over Year

Here is a report that may interest those searching form homes in the Chappaqua School District. This report compares the Last 12 Months in '09 - '08 to the 12 Months in '08-'07.

The total amount of closed sales in this time period is down 30%. The average selling price is down 5% as opposed to the Median Selling price which is down 12%.

Interestingly enough the average days on the market of properties is down 10%.

The most important thing to note is that the Active Listings presently on the market is 145 which is more than the number of homes sold in the last 12 months.

Westchester's average selling price is down 10% and the median down 8%. What is noteworthy is that over 35 homes SOLD in Chappaqua between $1 and 1.5 million and the average homes sold in Westchester county was between $400k and $650k.