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.

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