According to the Empire Access Multiple Listing Service, 82 single family homes closed in Westchester County this past week, with a median sales price of $586,000. In the same period last year, there were 96 single family home closings with a median sale price of $608,000. Given the general abysmal year that 2009 was, that makes this past week not much to write home about.
HOWEVER…overall, we are far ahead of the 2009 totals for the county. Last year through December 10, there were 3130 single family homes sold at a median price of $580,000. Thus far in 2010, we have seen 3,812 homes closed at a median sales price of $635,000.
With 248 homes pending sale, we have a strong chance of breaking the 4000 closing mark, which would be almost a 33% improvement by volume over 2009.
Low rates, more realistic sellers, and a general sense that the sky isn’t going to fall after all have contributed to the improvement in sales. Hopefully, we are in the beginning of a very steady, sustainable recovery.