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Elliman Report: Westchester & Putnam Sales 4Q 2011

The price indicators for the quarter were partially mixed partially, as a result of a significant variance caused by the surge in entry-level co-op sales. The average square footage of a residential sale was 2,082, down 2.8% from 2,143 in the same period last year. As a result of the decline in size and shift in the mix to smaller sales, the fourth quarter median sales price and average sales price were nearly identical. The median sales price of a Westchester residential sale was $525,000, up 16.7% from $450,000 in the prior year quarter. The average sales price showed the opposite trend, falling 9% to $524,722 from $576,512 in the prior year quarter.

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