This market report is for single family home activity in the Ossining school district for August of 2010. All information is derived from the Westchester-Putnam Multiple Listing Service.
The numbers are up, which is encouraging we we distance ourselves from the stimulus. The number of transactions is up 40% from August of 2009 and the median price is up almost $20,000. Encouraging stuff.
Another fact from the data: For both 2008 and 2009, homes that sold in the first 90 days got a higher percentage of asking price than homes that took over 90 days- about 2% in 2010 and a whopping 4.5% in 2009. Moral of the story: price it right in the beginning and you'll sell, and sell for more. 2% at a median price of about $400,000 is $8,000!!! There's your stimulus! Who needs the government? In 2009 the market was awful, but aggressively priced homes still sold fast.
Available inventory is high (150), with lots of choices on the market. 22 homes are under contract, which has been steady since June and bodes well for the coming months.
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