Posted by Jonathan J. Miller -Thursday, April 12, 2012, 10:55 AM
We published our report on Westchester/Putnam market sales for 1Q 2012 this morning. I’ve been authoring this report series for Douglas Elliman since 1994 and added this regional report about a year ago (but have about 30 years of historical behind it).
The market was a mixed bag this quarter. Weak but trying to stabilize. Overall prices trended lower but the luxury market posted strong gains over the same period last year. Inventory edged higher but was offset by sales rising enough to keep the monthly absorption rate unchanged. We expect inventory to expand over the next few years as foreclosures enter the market after last year’s robo-signing scandal held them off the market.
Here’s an excerpt from the report:
There were 1,277 sales in the first quarter, 1.8%
more than 1,254 sales in the same period last
year. The market share for 1-family properties
expanded to 59.1% from 57.5% over the same
period. Condo market share edged up to 14.7%
of all sales from 14.4% in the prior year quarter.
Co-ops and 2-4-family properties declined over
the same period to a 5.6% and 20.5% market
share, respectively. In the 1-family market, the
Northeast and South-Central regions showed
large gains in market share of sales over the
past year, while the remaining four regions
experienced declines in market share.
I’ve got a tool to build custom data tables on the Westchester and Putnam markets. I haven’t added charts for this region yet but they are coming. In the meantime you can see other market areas and some other generally cool housing market charts (IMHO).
* The Elliman Report: 1Q 2012 Westchester & Putnam Sales [Miller Samuel]
* The Elliman Report: 1Q 2012 Westchester & Putnam Sales [Prudential Douglas Elliman]
Posted by Jonathan J. Miller -Thursday, January 19, 2012, 10:17 AM
We released our report on the Brooklyn sales market for 4Q 2011 this morning. I’ve been authoring this series for Douglas Elliman since 1994. This report is the first to provide comprehensive insight and analysis for both counties beyond standard MLS stats.
Overall Westchester price indicators were mixed while the number of sales slipped from the same period a year ago. Overall sales were up but single family sales fell 5.4%. Sales of Westchester 1 families comprised 57% of all county residential sales, their lowest market share in 30 years (as far back as the data goes). Over the last few years there have been quarters that have been close. The uptick in everything else (lower priced or rent driven) caused the low market share. Putnam showed a jump in overall sales while the price indicators were mixed.
Here’s an excerpt from the report:
The price indicators for the quarter were partially
mixed partially, as a result of a significant variance
caused by the surge in entry-level co-op sales.
The average square footage of a residential sale
was 2,082, down 2.8% from 2,143 in the same
period last year. As a result of the decline in size
and shift in the mix to smaller sales, the fourth
quarter median sales price and average sales
price were nearly identical. The median sales
price of a Westchester residential sale was
$525,000, up 16.7% from $450,000 in the prior
year quarter. The average sales price showed
the opposite trend, falling 9% to $524,722 from
$576,512 in the prior year quarter.
The custom data tables are updated and ready for you to play with. The chart section on the new site remains a work in progress.
The Elliman Report: 4Q 2011 Westchester & Putnam Sales [Prudential Douglas Elliman]
The Elliman Report: 4Q 2011 Westchester & Putnam Sales [Miller Samuel]