“Westchester’s reported fourth quarter closings of 1,823 properties constituted a 31% increase over the fourth quarter of 2008.”
January 21, 2010
Reprinted with permission from the Westchester-Putnam Multiple Listing Service, Inc.
January 20, 2010
The Westchester-Putnam residential real estate market endured deep recession throughout 2009. The 5,824 Westchester sales reported through the Multiple Listing Service were 12% fewer than in 2008, which itself was a recessionary year. Putnam County sales (643 units) also were down by 12% from 2008 to 2009. Such low sales volumes for the Westchester-Putnam region were last recorded in 1993.
At the same time, sales activity increased with each passing quarter of 2009. In the first quarter Westchester’s sales volume had plunged 37% below 2008 levels. In the second quarter the negative year to year difference was 31%, followed by 10% in the third quarter. In the fourth quarter, sales volume finally surpassed that of a year ago, and by significant amounts. Westchester’s reported fourth quarter closings of 1,823 properties constituted a 31% increase over the fourth quarter of 2008. The single-family house sector posted a 36% increase. In Putnam County the fourth quarter house sales were 14% more than in 2008. See Westchester-Putnam Multiple Listing Service, Inc.‘s full report by clicking HERE
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