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Scarsdale NY – Housing and Market Statistics for Third Quarter 2009
First, apologies for posting this so late.  A family illness has been creating a time squeeze and although this may be a bit dated, it is good to have a third quarter reference to look back on.
Scarsdale NY housing has been in the cross hairs of the housing recession for a while now.  Initially,  it was resistant to the correction taking place in other parts of the country.  Eventually the forces that had hit other parts of the country so dramatically, came home to roost even in the most resilient areas of Westchester.  Real estate values in Scarsdale NY came under prssure as inventories swelled.  The drop was severe. However, some of the numbers show  signs of  a bottom being at hand.
Cooperatives: The number of co-ops sold are  down 15% over the previous year.   This is a trend that has been seen in other parts of the county and reflects the difficulties in obtaining financing.   Currently there is a nearly 8 month inventory on the market. However, prices remain slightly higher than the previous year, (5.4%) indicating a market that is stabilizing.   There are some mixed signals here.  the inventory is still high however, the pricing is surprisingly robust.
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