"Houses Sold and Sales vs. List Price in Our Communities
First Quarter, 2009
By Bill Primavera
The Home Guru
As published in The Examiner, April, 2009
To present an overview of how real estate sales are doing in a sampling of communities served by The Examiner in Westchester and Putnam Counties, here is a gathering of statistics to show how many homes sold in the first quarter of 2009, compared with the first quarter of 2008, and how median and sales vs. list prices compare.
There are some anomalies that tend to throw statistics off in a short three-month time frame, and this must be taken into consideration when evaluating the market situation today. For instance, no homes sold in the first quarter of 2008 in Mt. Kisco, and in Carmel, the sales price to list price ratio was thrown off and tallied in at an unrealistic high of 99.1% simply because one home, the lowest priced sale, sold at a considerably higher price than listed.
But generally, it shows how home sales are faring in the economy. With a few bumps in some markets, the number of sales and the median prices have fallen, but the good news is that the sales vs. list price percentages are holding up in Northern Westchester and Putnam with all in the mid- to high 90 percentile.
And, here’s a note to potential sellers who are hesitating to throw their hat into the ring in the house sales arena: at the end of the first quarter and beginning of the second, buyers are b-a-c-k. There have been busy offices in both Westchester and Putnam as phones are ringing again with calls from buyers who had been sitting on the sidelines while sales activities plummeted.
Now that mortgage interest rates are the lowest since World War II, and we have the $8,000 credit for first time homebuyers, the gates are open, and there are even bidding wars here and there. So call your realtor if your lifestyles preferences call for you to sell.
This flurry of activity should be reflected in the next quarterly report. But, here’s what happened in the first quarter of 2009.
Armonk:
Number of single family homes sold in first quarter of 2009 – 5
Number of single family homes sold in first quarter of 2008 – 12
Median price for homes sold in first quarter of 2009 – $1,250,000
Median price for homes sold in first quarter of 2008 – $970,499
Lowest priced home, list price, 2009 - $725,000
Lowest priced home, selling price, 2009 - $675,000
Highest priced home, list price, 2009 – $2,997,000
Highest priced home, selling price, 2009 - $2,875,000
Average sales price percentage of list price, 2009 – 94.17%
Average sales price percentage of list price, 2008 – 93.42%
Mount Kisco:
Single family homes sold in first quarter of 2009 – 5
Single family homes sold in first quarter of 2008 – 0
Median price for homes sold in first quarter of 2009 – $525,000
(No homes sold in Mt. Kisco, first quarter of 2008)
Lowest priced home, list price, 2009 - $369,000
Lowest priced home, selling price, 2009 - $349,000
Highest priced home, list price, 2009 – $979, 444
Highest priced home, selling price, 2009 - $900,000
Average sales price percentage of list price – 94.64%
(No homes sold in Mt. Kisco, first quarter of 2008)
Yorktown
Number of single family homes sold in first quarter of 2009 – 25
Number of single family homes sold in first quarter of 2008 – 38
Median price for homes sold in first quarter of 2009 – $375,000
Median price for homes sold in first quarter of 2008 – $463,500
Lowest priced home, list price, 2009 - $250,000
Lowest priced home, selling price, 2009 - $220,000
Highest priced home, list price, 2009 – $659,000
Highest priced home, selling price, 2009 - $600,000
Average sales price percentage of list price, 2009 – 94.06%
Average sales price percentage of list price, 2008 – 92.09%
Mahopac:
Number of single family homes sold in first quarter of 2009 – 24
Number of single family homes sold in first quarter of 2008 – 33
Median price for homes sold in first quarter of 2009 – $418,500
Median price for homes sold in first quarter of 2008 – $405,000
Lowest priced home, list price, 2009 - $184,900
Lowest priced home, selling price, 2009 - $153,000
Highest priced home, list price, 2009 – $759,000
Highest priced home, selling price, 2009 - $725,000
Average sales price percentage of list price, 2009 – 93.18%
Average sales price percentage of list price, 2008 – 95.86%
Carmel:
Number of single family homes sold in first quarter of 2009 – 12
Number of single family homes sold in first quarter of 2008 – 7
Median price for homes sold in first quarter of 2009 – $324,000
Median price for homes sold in first quarter of 2008 – $350,000
Lowest priced home, list price, 2009 - $185,000
Lowest priced home, selling price, 2009 - $230,000
Highest priced home, list price, 2009 – $599,900
Highest priced home, selling price, 2009 - $595,500
Average sales price percentage of list price, 2009 – 99.1%
Average sales price percentage of list price, 2008 – 95.58%
Putnam Valley:
Number of single family homes sold in first quarter of 2009 – 9
Number of single family homes sold in first quarter of 2008 – 17
Median price for homes sold in first quarter of 2009 – $342,450
Median price for homes sold in first quarter of 2008 – $355,350
Lowest priced home, list price, 2009 - $209,000
Lowest priced home, selling price, 2009 - $209,000
Highest priced home, list price, 2009 – $589,000
Highest priced home, selling price, 2009 - $550,000
Average sales price percentage of list price, 2009 – 94.47%
Average sales price percentage of list price, 2008 – 94.43%
Bill Primavera is a Westchester, NY-based realtor ( This e-mail address is being protected from spambots. You need JavaScript enabled to view it ) and marketing practitioner ( This e-mail address is being protected from spambots. You need JavaScript enabled to view it ) who can be reached for questions or comment directly at 914-522-2076.
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