Market Conditions in 10533>Question Details

housebuyer, Home Buyer in New York

westchester, new york housing market

Asked by housebuyer, New York Wed Dec 3, 2008

does anyone know the % fall in price for westchester compared to the rest of new york and the country?

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Westchester is a somewhat different market than other Counties in New York State. I cannot speak about the rest of the country because each market has different characteristics.

Westchester is close in proximity and is an easy commute to New York City which has keep prices from dropping as much as other regions. It also has a mix of cooperative apartments, condominiums and single family homes. Because of this not only are peolpe moving into the area but people within Westchester are able to move up or down in price point while stay in the area. Finally, in lower Westchester there is very limited vacant land to build on unlike the upper parts of the County and other regions of the State.

All that being said, prices in all regions have slide somewhat but your question must be a little more specific. The question is what percentage have prices changed since a particular year. Sales in general have dropped about 27% since this time last year but prices have not adjusted nearly that much. Every price point is different and when one factors in the specific town and other factors the numbers can vary drastically.

In general prices today if you wish to generalize can fluctuate anywhere from 2004 to 2008 prices. The Westchester Board of Realtors has statistics. We can also get the information but more specific data is needed to provide you with accurate and responsible information.

You can go our Company's or my personal website to access more information.

Steve Geiger
Licensed Associate Broker
Houlihan Lawrence, Inc.
http://www.houlihanlawrence.com/stevengeiger
sgeiger@houlihanlawrence.com
914-328-8400 ext 375
1 vote Thank Flag Link Tue Feb 24, 2009
Hi, Visit http://www.WCBR.net, this is the Westchester County Board Of Realtors site and will give you all the info you need on statistics in Westchester. As for the rest of the country visit http://www.Realtor.org and you will get that info. Please let me know if I can be of further assistance or if you have a problem navigating those sites.

Sincerely,

Christopher Pagli
Associate Broker
Legends Realty Group
914.406.9023
1 vote Thank Flag Link Wed Dec 3, 2008
Different Westchester communities have had differing rates of appreciation or depreciation this year. Yonkers and Scarsdale are apples and oranges. You can’t compare them. Same goes for Tarrytown vs. Larchmont and ETC
Westchester County Board of Realtors can help you out with general statistics for Westchester. (WCBR.net) but all towns are lumped together. This makes the information less useful. A good agent should be able to supply you with statistics that are very local. I have given clients information that pertains to the elementary school district. they are interested in .
Also, appreciation and depreciation will differ in different prices ranges. So that if prices are down in the $3 Million plus category, it does not mean that prices are down in the $500,000 - $1,000,000 category. Or they may be down a different percent.
Get under the numbers and find an agent who can make sense of the numbers for you.
0 votes Thank Flag Link Wed Dec 3, 2008
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