Croton on Hudson Real Estate Market November 2010

J Philip Faranda December 6, 2010

 

This market report is for single family homes in the Croton-Harmon school district. All data is from the Empire Access (formerly Westchester-Putnam) MLS. Contract and asking prices are list prices, as contractual prices are not disclosed until closing. 

Croton Real Estate market November 2010

Croton is constipated.

What else can you say about a market that had 12 pending sales last month and closed only 3? Croton now has 14 homes under contract, waiting to close, either by design or, more likely, because it is hard to get across the finish line these days. I predicted a big November last month based on all those pending deals, but that will have to wait. The median sales price is down a bit from last year, but honestly, what can you read into 3 crummy sales? Croton has 3 large franchises and another big independent office. There are probably 200 licensees in the school district. And they all split 3 sales. Wow.

Inventory of active homes is down to 50 from 60 last month, typical for this time of year. December most likely will have a spike upward because of all the homes under contract, which will be welcome after the recent malaise.  

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