Monthly Archives: July 2010

Katonah NY is a Beautiful Town! | Katonah NY Real Estate

Katonah NY Real Estate

Katonah NY Real Estate

Katonah real estate sales are up 84% in 2010. In 2009 19 Katonah NY homes sold in the first half of the year. In 2010 the number of transactions jumped to 35. Good to see.

Prices also jumped 15%. The median in 2009 was $595,000 and in 2010 it rose to $684,500. These are very good numbers in a weak market. Sales are up strongly and prices are firming.

In the first half of 2010 the average home selling in Katonah NY was 2896 square feet and sold at $274 per foot. Homes also sold faster in 2010. The average days on market dropped from 202 days to 158 days.

Like surrounding areas in northern Westchester inventory remains the big problem. It is a great buyer’s market. There are currently 119 homes for sale in Katonah NY. Prices range from $379,000 to $14,000,000. The median price is $912,500.

The big number is 20 months of supply. That median price will have to come down to get rid of supply. The economy is not growing strong enough to have a big increase in demand so the only way we clear supply is take your home off the market or lower the price.

We need price adjustments to maintain the pace. Katonah Homes thanks Katonah Realtor Robert Paul.

http://www.robertpaulsells.com/

NY Daily News Reports NYC Real Estate Heating Up Again

Bedford Homes thanks the Daily News

Buyers are returning to New York to snatch up prime real estate

Buyers are returning in droves to snap up Manhattan apartments.

Spurred by rock-bottom mortgage rates, slashed home prices and tax incentives, the Big Apple’s perennial home-buying season kicked into high gear during the spring, according to a number of residential real estate reports to be released today.

Although the reports showed housing prices were either flat or up modestly compared with last year, sales of co-ops and condos reached pre-recession heights.

“Purchasers were motivated by positive, buyer-friendly market conditions,” said Pamela Liebman, CEO of brokerage firm the Corcoran Group. It created a ” ‘now is the time to buy’ mentality.”

From April through June, Manhattan’s residential real estate market logged about 3,600 sales, up 47% from a year ago and 17% higher than during the first quarter, Corcoran said.

The average Manhattan apartment sold for $1.39 million, a 4.1% increase from a year ago, and a 3.5% jump since the first quarter, said real estate research company StreetEasy.com.

A hot segment of the market was oversized, three-bedroom apartments.

“It’s like the higher end of the housing market woke up,” said Jonathan Miller, president of real estate appraisal company Miller Samuel, which compiles reports for Prudential Douglas Elliman.

Also back from the brink are bidding wars, said Corcoran’s Liebman. As inventory tightened and buyers got aggressive, more than 50% of Corcoran’s agents got caught in the middle of a price war during the quarter, she said.

Bedford Homes thanks the Daily News