WESTCHESTER 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…

PUTNAM Housing price trends in Putnam were generally
higher in the second half of the year than the
first half, largely due to the strength in the entrylevel
market in early 2012. Although the fourth
quarter sales total was lower than it had been in
the same period last year, the annual total of 695
was 10.7% above the yearly total for 2011, with a
larger portion of sales occurring in the latter part
of 2012. Listing inventory fell to its lowest level
in 7 years; this drop, combined with a generally
elevated level of sales, resulted in a 12.1-month
absorption rate, the lowest rate in 7 years…