Highlights of the Elliman.com Westchester NY sales report

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Westchester & Putnam Market Highlights

WESTCHESTER

Overview
- Housing prices remain stable
- Sales up sharply as many anticipated higher taxes relating to the Fiscal Cliff in 2013.
- Listing inventory continued to fall.  Higher sales and tight credit ARE keeping inventory low.
- Days on market edged higher as older inventory continued to be absorbed.
- Luxury prices continued to outpace the overall market.

Key Trend Metrics (compared to same year ago period)
- Average sales price increased 11.5% to $585,232.
- Number of sales increased 26.3% to 1,762.
- Listing inventory fell 13.2% to 4,759 units.
- Days on market was 201 days, up 3.6%
- Listing discount was 12%, down from 12.8%.
- Monthly absorption rate was 8.1 months, down from 11.8 months.
By Property Type
Single Family Market- Median sales price was $545,000, up 3.8%.
- Number of sales increased 31.1% to 1,042.

2-4 Family Market- Median sales price was $359,125, up 4.2%.
- Number of sales fell 15.2% to 84.

Co-op Market
- Median sales price was $145,000, down 1.4%.
- Number of sales increased 15.9% to 343.

Condo Market- Median sales price was $320,000, down 5.9%.
- Number of sales increased 42.9% to 293.
Luxury Market (The Top 10% of all Single Family Home Sales)- Median sales price was $2,150,000, up 21.6%.
- Luxury market begins from $1,450,000.

via trulia.com

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