The much anticipated third quarter report from the Westchester-Putnam Multiple Listing Service is now available. Seems that the tales of doom and gloom in the housing market have not effected the residential market in Westchester County. Interest rates were only up slightly and not enough to stop buyers from buying. Real estate reports are regional and this report proves that. Some highlights:
Sales of single family houses rose 5.5% for the 3rd quarter of 2007 over 2006.
There were 2,750 closed transactions during the 3rd quarter under 1% difference from 2006.
Co-op sales were up 2% while condominium sales increased just under .5%. There was a large drop in the number of multi-family homes sold, down 47%.
Properties of one million and up increased their market share from 21% at the beginning of 2006 to 28% for the 2nd and 3rd quarters of 2007.
Article from this morning's Journal News on the report from the Westchester-Putnam Multiple Listing Service, click here. and to read the entire report, click here.
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