Westchester New York River Towns – Housing and market statistics for 4th Quarter 2009
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The river towns comprise the towns/villages in Westchester that are located along the Hudson River. This blog covers the lower Westchester region primarily in the town of Greenburgh. Sleepy Hollow is included since it shares a school district with Tarrytown. Initially I ran these statistics on Tarrytown and Sleepy Hollow, but the sales volume was too low to create reliable statistics.
In general, prices in the river towns such as Tarrytown NY showed some signs of stabilization in the river towns. Certainly the area has been badly beaten up over the past few years, so it was good to see a slowdown in declining prices.
Cooperatives:
The pricing for cooperatives was dicey because during the 4th quarter there were practically no 2BR sales. This skewed the price point dramatically downwards. Although the number indicates a decline of over 34% from the previous year, this market is nowhere near that unstable. Because of the unusual sales pattern decent sales figures were almost impossible to come by. However the increase in sales volume of 120% indicates a recovering market. The 6 month inventory reflects a slowly declining market. So the numbers indicate a level or slightly declining market creating some good news for buyers and sellers a like.
Condominiums:
Condos went up in price quite dramatically. But that increase doesn’t impress me so much because it probably reflects the sale of high end units at Hudson Harbor in Tarrytown – skewing prices northward. However sales volume for the river towns is up 67%. There is considerable inventory on the market indicating that although sales are up – price declines may continue for a while.
Single Family Homes:
Single family homes showed 5.5% declines over 2008 which is far less severe than in previous years. There is still an 8 month inventory hanging over the market, but sales volume was up 31% over the 4th quarter of 2008.
© 2010 Ruthmarie G. Hicks – https://thewestchesterview.com. All rights reserved.
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