The news in Westchester’s housing market continues to be encouraging, reflecting a continuing stability overall, according to Douglas Elliman’s newly released Fourth Quarter 2012 Market Report. Among the report’s notable highlights:
Westchester housing prices remain stable;
Luxury prices (with a median sales price of $2.15 million) continue to outperform the overall housing market;
The listing inventory is decreasing (down 13.2% from this time last year) thanks to increased sales (up 26.3% from a year ago) and record low mortgage rates.
The number of single-family home sales rose 31.1% from fourth quarter 2011.