This is the market data for August of 2010 for single family homes in Peekskill, and all information is sourced from the Westchester-Putnam MLS. OK- here goes: Prices are way down. Only 1 home sold, so all statistics are at the mercy of a number too small to be considered a representative sample. Median price last month was $65,000 and August of last year was $289,500. There are 77 homes actively for sale- the balance is out of whack, with only 7 homes under contract at a median price of $247,500. So sales are way down and pending sales are low. Here's the deal: Peekskill is a nice place- low taxes, affordable homes, a vibrant downtown, and proximity to Manhattan, points upstate, and all the amenities of Westchester County. You could buy a pretty nice joint here for not much money. The law of supply and demand is immutable- someone is going to get some good deals, and that someone should be you. Yeah, you. Or someone you know. Get yourself a free Listingbook account and check out homes for sale in Peekskill. It is absolutely a buyer's market here. Previous posts about Peekskill are here. 
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