Health & Fitness
Market Trends
The number of residential home sales in Westchester showed an increase in the 3rd quarter of 2013. Realtors logged 1768 residential closings, an astronomical increase of 28.1% from the 1380 reported a year ago. The median price for a single family home in Westchester increased to $700,000. This represents a healthy increase of 4.6% from last year’s median price of $669,498.
Putnam’s single family home sales increased in the 3rd quarter reporting 226 residential closings compared to 192 closings a year ago during the same period. This is a superb increase of 17.7%. Also in Putnam, in the 3rd quarter of 2013, the median sales price for a single family home was $332,700; this represents a healthy increase of 5.2% from last year’s median price of $316,450.
Year-to-date sales in Westchester, for the nine-month period ending in September 2013 were 3712 compared to 3061 during the same period a year ago. This is an outstanding 21.4% increase in home sales.
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Year-to-date housing prices in Westchester were $675,000 compared to $640,000 during the same period a year ago. This is a healthy 5.5% increase in the median price of homes in Westchester.
Year-to-date, homes sold in Putnam, for the nine-month period ending in September 2013, were 524 compared to 466 during the same period a year ago. This is a significant 12.4% increase in home sales.
Find out what's happening in Peekskill-Cortlandtwith free, real-time updates from Patch.
Year-to-date, housing prices in Putnam were $314,900 compared to $299,000 during the same period a year ago. This is a healthy 5.3% increase in the median price of homes in Putnam.
With the end of the 3rd quarter of 2013, the economy is continuing to grow slowly, with unemployment steady at 7.2%. As of late October, the stock market is also steady at 15,300. According to The Wall Street Journal, mortgage rates are around 4.25% for a 30-year fixed mortgage. There is currently a low inventory of homes available to be sold. Real estate experts see home pricing rising slowly (for four consecutive quarters in Westchester). This makes Fall and Winter a great time, in a very long time, to sell.
The time to enter the market is now!