Posted by Jonathan J. Miller -Wednesday, July 29, 2009, 12:30 AM
The Westchester-Putnam Multiple Listing Service, Inc. provides a quarterly analysis of the real estate market. Considered a suburb of New York City, Westchester County, NY, is considered a suburb of the New York City real estate market.
Incidentally I’m looking forward to speaking at the Westchester County Board of Realtors annual meeting in the fall.
Like NAR’s existing home sale stats, the Westchester-Putnam MLS annualizes and seasonally adjusts. Sales and prices are up from the prior quarter (remember: seasonally adjusted) and had the first significant increase in number of sales since 1Q 07.
Sales are down 30.7% from the same period last year. Median sales price was down 16.3% over the same period to $565,000. A portion of the price decline was due to a shift in the mix to proportionally more sales at the lower end of the price spectrum. Inventory is down almost 7% from last year which had been the highest level in 4 years.
Sound like other markets you know? Does to me – that’s because credit is driving this.
Download the 2Q 09 report and a myriad of previous reports back to 1981.