Westchester county homes for sale have generally been on a downward trend. There are a handful of exceptions that are in a mild bull market – but such is not the case in Hartsdale NY. Hartsdale housing prices are running parallel to those of White Plains. While some parts of the county have been experiencing a mini-boom in single family home prices in White Plains and Hartsdale are still trending downward. Volume is up from the previous year, but that is that has not been reflected in the prices. Condos and coops are also following a downward trend in price that is being seen county-wide.
The median price of a single family home is down 17% from Q2 of the previous year to $433,000. This follows the pricing trend seen in White Plains homes for sale, but not in areas like Scarsdale. As some of the higher end areas have come down in price, they have started to compete with areas like White Plains and Hartsdale – causing further stress on these home prices. Volume was up significantly from the previous year – (up over 30%) but the inventory overhang of about 9-12 months is keeping prices in check.
The chart below paints a very rosy picture of condo prices in the area – but a closer look indicates a price drop. Like White Plains NY condos and Westchester condos generally, the median price for a sold condo in Q2 2010 was $415,000. The 37% price increase has more to do with the type of unit sold in 2010 then with an actual price in crease. In 2009, only one 2BR unit sold during Q2. This year, there was a much larger percentage of larger units sold. When comparing the sales price of 1 BR units in 2009 to 2010- we actually see a 6% drop in prices. Volume is up over 100% from the previous year but there is still a six month overhang of inventory.
Westchester Coops are down in price across the board Hartsdale is no exception with a 30% drop in median price. However, more 1 BR units sold this year than last year. When comparing the median price of 1 BR units a 7% drop in price was noted. The median price overall is $166,000 for Q2. The inventory overhang is around 9-11 months depending on whether you look at current contracts or closed sales.
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