Peekskill Real Estate Market, 1st Quarter

J Philip Faranda April 2, 2009

Overlooking the Hudson River, Peekskill is the only city of all the municipalities in northern Westchester County. When I was growing up it was where you went to do to the Department of Motor Vehicles office and little else. Today it has a far more vibrant downtown with art galleries, cafes and shopping of all kinds. And the DMV is still there. 

I started my company in 2005, and the company’s first closing was on a home in Peeksksill. I remain in touch with my clients. They have done great things to that house. Like many Manhattan dwellers, Peekskill appealed for the nearby Hudson Line train terminal, the vast array of pre war architecture, Hudson River views and the relatively affordable prices compared to much of Westchester. I continue to do business there. 

How has the market in Peekskill fared with the declining housing market? According the to data I have from the Westchester-Putnam Multiple Listing Service comparing the first quarter of 2008 for single home sales to quarter 1 of 2009, Peekskill’s market is relatively stable. 

Year # Sales  Average Price   Median Price 
2008 16  $      355,378.00  $   340,025.00
2009 17

 $      297,959.00

 $   280,000.00

Prices were down about 16% but the transaction total was actually higher in 2009 than 2008 by one for single family homes. There are 69 single family homes actively available for sale in the city. 6 are under contract or pending sale; that is a low number, but at this rate the city has about a year’s worth of inventory on the books. Not bad. 

_______________________________________________________________

  J. Philip Real Estate

You can search the MLS like an agent at http://jphilip.listingbook.com.

J. Philip Faranda ranks among New York’s premier short sale REALTORS specializing in short sales in Westchester, Rockland, Putnam & Dutchess Counties. www.NYShortSaleTeam.com. Read Phil’s short sale blog at http://NewYorkShortSaleBlog.wordpress.com.

J. Philip Serves Briarcliff Manor, Ossining, Croton on Hudson, Pleasantville, Sleepy Hollow, White Plains, Yonkers, Peekskill, Cortlandt, Tarrytown, Yorktown, Montrose, Hawthorne, Thornwood, Valhalla, Hartsdale & all of Westchester County, New York.


 

Join The Conversation

This site uses Akismet to reduce spam. Learn how your comment data is processed.