Monday, April 26, 2010

Good Press for Real Estate Market

It's been a while since words like "recovery" and "rebound" have been used to discuss the Westchester real estate market. Both the Journal News and the New York Times have recently published reports stating that the local market is experiencing a spring rebirth. According to the Journal News, there was a 76.6% increase in the number of sales in Westchester and the median sales price increased by 13% in the first quarter compared to the same time a year earlier. Both papers agree that the increase in sales is due largely to the decrease in prices, which are still down about 20% below peak. The Journal News quotes the chief operating officer for Houlihan Lawrence as saying that the strongest recovery is in the southern parts of Westchester, while the Times highlights increases in northern Westchester: "In the northern part of the county (including North Salem, Katonah, Lewisboro, Bedford, Somers, Chappaqua, Pound Ridge, Armonk, and parts of Briarcliff, Pleasantville and Yorktown) sales of single-family houses almost doubled..."

1 comment:

Anonymous said...

I'm looking and things are moving a lot faster than they were. But there is still a lot on the market.