This is the market report for single family homes sold in the Ossining school district for the first quarter of 2011. All information is sourced fom the Empire Access Multiple Listing Service.
In the first quarter of 2011, there were 28 closings with a median sale price of $369,500.
In the first quarter of 2010, there were 44 closings with a median sale price of $442,000.
These are significant differences. I stopped doing monthly market reports because 30 day spans in these small communities had results all over the place. Quarterly reports had more statistical significance. Therefore, the decline in the number of closings and the lower price is not an anomoly.
23 homes are currently under contract at a median asking price of $449,500. This bodes better in terms of prices, but with 135 listings active and available there is still a huge imbalance in the favor of buyers.
It remains to be seen if we are indeed in the midst of a double dip.
One thing is for certain: Now is a good time for buyers. If you'd like to search for a well priced home in Ossining, get yourself a free Listingbook account and search the MLS like an agent.