2012 Home Sales in Peekskill-Cortlandt Similar to 2011 Trends

The real estate company Houlihan Lawrence released the 2012 first quarter real estate market report on Westchester, Putnam, and Dutchess Counties Wednesday. 

Click here to see the full first quarter for 2012 report. And read the information on single family home sales in the Peekskill and Hendrick Hudson school districts below. You can read about the Lakeland School District report on Yorktown Patch .

In the Hendrick Hudson School District: 12 homes sold in the first quarter of 2012 and 13 sold in the first quarter of 2011. In 2011 a total 67 homes were sold, down from 74 total homes sold in 2010. The median sale price for homes sold in March 2012 was $362,000, which is down 18 percent from the median sale price in March 2011 but up .6 percent from February 2012.

In the Peekskill school district: 11 homes were sold in the first quarter of 2012 and 15 were sold in the first quarter of 2011. In 2011, a total of 54 homes were sold in Peekskill, up from 46 homes sold in 2010. The median sales price for homes sold in March 2012 was $230,000, which is down 16.4 percent from the median sales price in March 2011, but up 4.5 percent from February 2012.

In the first quarter of 2012 most of the homes that sold in Northwest Westchester, which includes  Hen Hud, Lakeland, Peekskill, Yorktown and Croton-Harmon school districts, were in the $300,000-399,000 range. Most homes sold in 2011 were also within that range. The number of single-family homes sold in the first quarter of 2012 were 14 percent lower than what they were during the first quarter in 2011. The median price is also down – 3 percent, compared to the same time last year.

In terms of sales in Westchester county, the highest level of pending sales since 2005 were reported in this first quarter, according to the report. A pending sale represents a commitment to purchase a home at a specified price and terms, typically closing within 60 to 90 days.

In Westchester, pending sales at the end of the quarter were up 31 percent compared to the same time last year, associate broker Frederick Romley said. 

But prices were also lower – the median sale price is $505,500, down 8.4 percent from the same period last year.

Pending sales have altogether increased. For homes under $500,000, pending sales were up 44 percent. Westchester homes priced between $700,000 and $1 million saw pendings up 46.3 percent from 2011. Even the luxury market is flourishing again, with pending deals to purchase Westchester homes priced above $2.5 million up 34 percent from 2011, according to the report. 

In Northern Westchester, the number of single-family homes sold in the first quarter of 2012 were 14 percent lower than what they were during the first quarter in 2011. The median price is also down – 3 percent, compared to the same time last year.

What do you think about these numbers? Are you buying or selling a home? What has been your experience?