The state of real estate market in Mahopac pretty much reflects the overall picture of the market in wider areas of Northern Westchester and Putnam counties. In short, the spring has already arrived to real estate market! It came earlier this year due to federal tax credits, and the fact that buyers need to be in contract by April 30th to qualify for the credits. More homes were put on the market in January than in previous months, at the same time, the pace of sales slowed down. The current absorption rate is 14 months (this is how long it would take for all currently listed houses to be sold if nothing else comes on market). This is an indication of a very strong buyers market.
Below are some vital numbers for Mahopac real estate (single family houses only, Mahopac school district).
Mahopac Real Estate Market Profile & Trends Overview
Total properties currently for sale (inventory) 144 (down -10% from Dec '09)
New listings in January 24 (up 41% from Dec '09)
Median List price of all current listings $525,000 (up 5% from Dec '09)
Average List price of all current listings $598,287 (up 2% from Dec '09)
January properties sold 10 (down -17% from Dec '09)
January median sales price $410,500 (down -2% from Dec '09)
January average sales price $372,100 (down -11% from Dec '09)
January sold price per square foot $184 (up 5% from Dec '09)
January average days on market (solds) 196
January months supply of inventory 14.4 (up 8% from Dec '09)
Inventory & Absorption Rate
The total inventory of properties available for sale in Mahopac school district as of January 2010 was 144, down -10% from 160 in December 2009 and down -2.7% from 148 in January 2009. January 2010 inventory was at its lowest level compared with January 2009 and January 2008.
The number of new listings in January 2010 was 24, up 41.2% from 17 in December 2009 and up 41.2% from 17 in January 2009.
January 2010 month's supply of inventory was 14.4 months, the lowest level compared with January 2009 and January 2008. However, this number is still an indication of a very strong buyers real estate market in Mahopac.
Property Sales
January 2010 property sales in Mahopac were 10, up 11.1% from 9 in January 2009 and -16.7% lower than the 12 sales in December 2009. January 2010 YTD sales of 10 are running 11.1% ahead of 2009 year-to-date sales of 9.
Prices
The median sales price in January 2010 was $410,500, up 10.1% from $373,000 in January 2009 and down -2.3% from $420,000 in December 2009. The average sales price in January 2010 was $372,100, down -9.1% from $409,211 in January 2009, and down -10.8% from $417,146 in December 2009.
Market Time
The average days on market in January 2010 was 196, up 42% from 138 in December 2009, and up 13.3% from 173 days in January 2009.
Selling price per square foot
The January 2010 selling price per square foot of $184 was up 5% from $175 in December 2009 and down -3.4% from 190 in January 2009.
Have questions about real estate market in Mahopac? Want to see a list of all sold or newly listed houses? Call, email or text me - I'd love to be of help!
Comments(0)