White Plains, New York October 2008 Market Reports

Having just sold a terrific arts and crafts colonial in Gedney Farms in White Plains I thought it would be interesting to see what the market is doing in that community.

129 single family homes on the market in White Plains with prices that range
$384,000 to $2,497,285;
Average price for homes on the market is $967,643
The median price is $699,999
The average days on the market for active listings is 114
There are 16 houses that have conditional contracts and
there are 9 houses that are in pending status

During the month of October 11 houses sold with prices ranging from
$350,000 to $1,400,000
Average days on the market for sold houses was 167
Average price for sold homes was $851,182
The median price for sold homes was $745,000

SOLD during the month of October
2004 / DOM 16 / 123
2005 / DOM 30 / 117
2006 / DOM 25 / 159
2007 / DOM 18 / 135
2008 / DOM 11 / 167

The absorption rate in the City of White Plains on 3/31/08 was 49 weeks and at the end of October it was 50.98. This indicates that the market has not slowed further in the past six months but it is a strong buyer's market.

The City of White Plains is the county seat of Westchester County, New York. It is located in the south-central of Westchester, about 4 miles (6 km) east of the Hudson River and 2.5 miles (4.0 km) northwest of Long Island Sound. It is bordered to the north by the town of North Castle, to the north and east by the town/village of Harrison, to the south by the town/village of Scarsdale and to the west by the town of Greenburgh. As of the 2000 census, the city had a total population of 53,077, while a 2006 census estimate put the city's population at 57,081.^[1] White Plains is one of the edge cities that have developed outside of New York City. According to the mayor of the city, the daytime weekday population is estimated at 250,000.^[3]

^{There are about 18 different communities throughout White Plains from Prospect Park with it's wonderful Victorians to Battle Hill, Gedney Farms, the Highlands and Hillair Circle. There is something for everyone with all styles of housing and a broad price range. There are 3 outdoor swimming pools, an ice skating rink, 50 acres of open passive space, 1 public golf course, 3 country clubs and 14 active play areas. There is world class shopping with The Westchester Mall with Nordstroms and Neiman Marcus as anchors, the Ritz Carlton is new to Westchester County and White Plains is a 35 minute train ride into New York City.}

^{White Plains Library
White Plains School District
White Plains Hospital
White Plains Historical Association
White Plains Performing Arts Center
White Plains Beautification Foundation}

^{Copyright 2008, Miriam Bernstein and Westchester Real Estate Blog, All Rights Reserved}