Cold Spring & Philipstown Market Report 1st Quarter 2012
J Philip Faranda April 24, 2012
The first quarter of 2012 for the Cold Spring and Philipstown area indicated a very slow quarter compared to the same period last year, according to the sales data from the Empire Access MLS.
In the first quarter of 2012, there were 3 sales in Philipstown and Cold Spring at a median sale price of $392,500
In the first quarter of 2011, there were 8 sales at a median price of $520,000.
To be sure, it is a slow start.
Currently, there are 7 homes under contract pending sale at a median list price of $299,000. Clearly, the buyer activity is on the lower end of the spectrum.
Buyers do have a unique opportunity: There are 64 homes active and available on the market right now in Philiptown at a median price of $549,450. Does this mean that the available inventory is overpriced? No! It just means that the first quarter trended toward lower cost properties. What is available is an awesome opportunity for buyers to choose from a huge inventory of some great homes in a spectacular area.
The villages of Cold Spring and Nelsonville are charming and filled with convenience and beautiful architecture. The Cold Spring train station is right on the Hudson, down the hill from a beautiful downtown filled with shops, art and eateries. It is a well regarded destination for Manhattan weekenders.
In Philipstown outside the villages, you have bucolic beauty, privacy and lots of room to roam. We have a beautiful sprawling ranch on 8 acres listed that even has its own pond! $474,900 buys it and it is worth it. Click here for more information on this great example of Philipstown real estate.