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Encouraging 4Q Housing Market Report

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.

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Housing Notes by Jonathan Miller

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