[Stronger Finish] 4Q 2012 Westchester & Putnam Report

Posted by Jonathan Miller - Saturday, January 12, 2013, 9:57 PM

We just published our rreport on the Westchester & Putnam County New York housing markets.   This is part of an evolving market report series I’ve been writing for Douglas Elliman since 1994.

Key Points

WESTCHESTER

• 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.
  

PUTNAM

• Housing price indicators were mixed.
  
• Sales slipped from the same period last year.
  
• Listing inventory continued to trend lower.
  
• Days on market edged higher as older inventory continued to be absorbed.
  

Here’s an excerpt from the report:

…The fourth quarter 2012 Westchester housing market was characterized by general price stability, sharply rising sales activity, declining inventory and a faster overall market pace heading into 2013.

Median sales price saw a nominal 0.6% decline from prior year levels to $395,000. Average sales price increased 11.5% and average price per square foot rose 5.2% over the same period. The year-to-date results show nominal declines for all price indicators, including a 1.6% decline in median sales price. In the fourth quarter, the luxury market price indicators outpaced the overall market. Median sales price increased 21.6% from the prior year quarter to $2,150,000…

You can build your own custom data tables on the Westchester & Putnam market – now updated with 4Q 12 data. I‘ve added some charts for Westchester (Putnam coming) and will be adding to them in the future.

The Elliman Report: 4Q 2012 Westchester & Putnam Sales [Miller Samuel]
The Elliman Report: 4Q 2012 Westchester & Putnam Sales [Douglas Elliman]