Yorktown Real Estate Market August 2010

J Philip Faranda September 19, 2010

As the beads of persipration gathered on my furrowed brow, I –

Wait, this is a market report. Sorry. *ahem*

Yorktown is a large town in northern Westchester County served by both the Yorktown and Lakeland School districts. It is is very post-war suburban in character- the vast majority of homes are 60’s and 70’s era ranches, splits and raised ranches, with larger colonials in the newer developments. 

This data is for the Yorktown school district only and is taken from the Westchester-Putnam Multiple Listing Service. It compares the sales of single family homes from August of 2010 to August of 2009.

Yorktown Real Estate Market August 2010 Yorktown

As my grandfather would say, Yorktown’s August market was not-ah so good. Transactions were about half of last August’s closed volume, and the median price was down over $61,000.  July was also a rather lean 8 closings, so buyers are sitting on their hands right now. One instructive thing is that the average asking price of the 19 pending sales is only $389,000, so the public is not looking to spend as much in Yorktown as much as before. 

As with Croton on Hudson, prices are on a downward trend in Yorktown. When prices do fall, transactions will bounce back. We just got an accepted offer in Yorktown this past week, and it was a tough time getting the sellers to accept the buyer’s offer. There is still some resistance to the downward pressure on pricing. Human nature I suppose, but when sellers adjust they’ll move. Until then, they wait. 

To check out the 137 available properties Yorktown has to offer, register yourself for a free Listingbook account

 

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