Natasha Pazdzerskaia

The real estate market in Brewster showed some healthy signs in February 2010. Namely, the number of closings shot up 33% comparing with January 2010, and the number of all properties currently listed for sale decreased 4%. Of course, it is not much in a greater scheme of things, and the absorption rate (or the number of months it will take to sell all inventory in Brewster without anything new coming on the market) is still high, but one can always hope, right?

Lately, while in the office scheduling appointments and answering the inquiries from potential buyers, I noticed a great increase of activity. Just a few weeks ago, on a good day we were making 2-5 appointments a day, now it can be up to 15-20. Those are for real estate agents showing their clients properties and making offers! More prospective buyers are also calling in and inquiring about our listings. These are definitely the signs of improvement.

Now, let's get back to Brewster real estate market snapshot. Remember that the data below is for single family houses only in Brewster school district.

Market Profile & Trends Overview

Total properties currently for sale: 132
Newly listed properties in February: 23
Median list price/current listings: $399,900
Average list price/current listings: $456,322
Number of properties sold in February: 8
February median sales price: $350,000
February average sales price: $436,813
February average days on market/sold listings: 214
February months' supply of inventory: 16.5

Property Sales

February property sales were 8, up 166.7% from 3 in February 2009 and 33% higher than 6 sales last month. February 2010 sales were at their highest level compared to February 2009 and 2008. February YTD sales of 14 are running 75% ahead of last year's year-to-date sales of 8.

Prices

the median sales price in February was $350,000, up 4.5% from $335,000 in February 2009 and down -1.4% from $355,000 last month. The average sales price in February was $436,813, up 37.9% from $316,667 in February 2009 and up 14.4% from $381,667 last month.

Inventory & Absorption Rate

The total inventory of properties available for sale as of February was 132, down -3.6% from 137 last month and down -13.2% from 152 in February 2009. February 2010 inventory was at its lowest level compared with February of 2009 and 2008. The number of new listings in February 2010 was 23, down -28.1% from 32 last month and up 15% from 20 in February of last year.
The February 2010 months' supply of inventory was 16.5 months, which is a sign of a strong buyers' market, at the same time, it is the lowest compared with February 2009 and 2008.

Market Time

The average days on market shows how many days the average property is on the market before it sells. That number for February 2010 in Brewster was 214, up 75.4% from 122 days last month and up 12.6% from 190 days in February of last year.

Selling price per square foot

The selling price per square foot is a great indicator for the direction of property values. Since median sales price and average sales price can be impacted by the 'mix' of high or low end properties in the market, the selling price per square foot is a more normalized indicator on the direction of property values. The February 2010 selling price per square foot of $191 was up 4.8% from $182 last month and up 0.7% from 189 in February 2009.

Do you have any questions or would like more information about sold or listed properties in Brewster or in nearby communities? Email, call or text me!

The pace of sales has slowed down considerably in Somers' Heritage Hills in February 2010. There were only 3 sales recorded in February '10 as opposed to 9 sales in January '10 and 16 in December '09! Of course, we could blame the cold and wet weather in February, however, it usually takes 30-45 days from accepted offer to the closing table, so the contracts would have to be signed much earlier than February...

The current inventory in Heritage Hills consists of 38 units on the market, and absorption rate now stands at 4 months (this is how long it will take to sell off everything that's currently listed without any new units coming on the market). Sellers' market in Heritage Hills as I proclaimed just a few months ago, is now officially gone and history. But even though the absorption rate is higher today than it was at the end of 2009, the real estate market in Heritage Hills is still doing much better here than in surrounding towns, where the absorption rates can be anywhere between 15 and 30 months! These days, the most showing appointments we are scheduling are for Heritage Hills units.

Below are some vital numbers for the Heritage Hills condo units as of February 28 2010:

Currently listed - 38
Average price/currently listed - $402,886
Median price/currently listed - $389,479
New units listed in February - 13
Sold in February - 3
Average sale price - $312,666
Median sale price - $299,000

Of currently active listings there are:

1BR - 6 units priced between $229,500 and $419,000
2BR - 24 units priced between $299,000 and $549,000
3BR - 8 units priced between $365,000 and $699,000

Questions? Would you like to see the details about specific condo units in Heritage Hills? Don't hesitate to call, email or text me for more information.

Here are the quick February '10 numbers of real estate sales in Northern Westchester and Putnam counties (detailed breakdown by individual school district is coming soon).

Northern Westchester (Somers, North Salem, Katonah, Bedford, Chappaqua)

Single Family Homes Units Sold: 36
Single Family Homes Average Sales Price: $1,173,351
Single Family Homes Median Sales Price: $950,000
Single Family Homes Average Days on Market: 187

Condo Units Sold: 6
Condo Average Sales Price: $390,333
Condo Median Sales Price: $307,000
Condo Average Days on Market: 218

Putnam county

Single Family Homes Units Sold: 24
Single Family Homes Average Sales Price: $325,625
Single Family Homes Median Sales Price: $289,250
Single Family Homes Average Days on Market: 250

Condo Units Sold: 3
Condo Average Sales Price: $279,500
Condo Median Sales Price: $275,000
Condo Average Days on Market: 174

Have questions on the state of the market in your neighborhood? Call, email or text me for a complimentary Comparative Market Analysis (CMA)!

The state of the real estate market in Carmel, New York, pretty much reflects that of the surrounding towns. There was more listing activity with less sales reported in January 2010. Plus, currently there are over 23 months worth of active listings on the market, which translates into a very strong buyers market.

Below are the vital numbers for Carmel real estate market (as defined by school district, single-family houses only).

Market Profile & Trends Overview

Total properties currently for sale 212
New listings in January 48
Median list price/active listings $375,000
Average list price/active listings $441,983
January properties sold 9
Median sales price $257,000
Average sales price $289,256
January sold price per sq foot $165
Months supply of inventory 23.6

Inventory & Absorption Rate

The total inventory of properties available for sale in Carmel school district as of January was 212, down -3.2% from 219 last month and up 1.9% from 208 in January 2009. The number of new listings was 48, up 77.8% from 27 last month and up 50% from 32 in January of last year.
The January 2010 months supply of inventory of 23.6 months is a sign of a very strong buyers market in Carmel.

Property Sales

January property sales were 9, up 50% from 6 in January of 2009 and -25% lower than the 12 sales last month. January YTD sales of 9 are running 50% ahead of last year's year-to-date sales of 6.

Prices

The median sales price in January was $257,000; up 2.6% from $250,500 in January of 2009 and up 3.2% from $249,000 last month. The average sales price from January was $289,256; up 17.3% from $246,583 in January of 2009 and down -0.6% from $209,979 last month.

Market Time

The average days on market shows how many days the average property is on the market before it sells. The days on market for January was 271, up 97.8% from 137 days last month and down -16.6% from 325 days in January of last year.

Selling Price per Square Foot

The selling price per square foot is a great indicator for the direction of property values. Since median sales price and average sales price can be impacted by the 'mix' of high or low end properties in the market, the selling price per square foot is a more normalized indicator. The January 2010 selling price per square foot of $165 was up 5.4% from $156 last month and down -6.3% from 176 in January of last year.

Overall, the real estate in Carmel (NY) strongly favors buyers right now. Combine this with great variety of housing choices, federal tax credits, low mortgage rates - all of these translate into a really fantastic time to buy - what are you waiting for?

The pace of real estate sales slowed down in January in Katonah-Lewisboro school district. As in surrounding towns, there were significantly more new listings and less sales recorded in January 2010 comparing with December 2009. Overall, there is a very strong buyers market in the single family house segment of Katonah-Lewisboro real estate.

Below are some vital numbers for Katonah-Lewisboro real estate market (as defined by school district, single family houses only).

Market Profile & Trends Overview

Total properties currently for sale (inventory) 137
New listings in January 35
Median list price of all current listings $895,000
Average list price of all current listings $1,291,109
January number of properties sold 10
January median sales price $644,750
January average sales price $688,530
January average days on market 192
January sold price per square foot $262
January month's supply of inventory 13.7

Inventory & Absorption Rate

The total inventory of properties available for sale in Katonah-Lewisboro school district as of January was 137, down -4.2% from 143 last month and up 2.2% from 134 in January of last year.
You can see a list of currently listed houses for sale in Katonah at this Coldwell Banker website.

The January 2010 months supply of inventory (absorption rate) was 13.7 months, which is an indication of a very strong buyers market.

Property Sales

January real estate sales in Katonah-Lewisboro were 10, up 233.3% from 3 in January of 2009 and -44.4% lower than 18 sales last month. January 2010 sales were at their highest level compared to January of 2009 (3) and 2008 (7). January YTD sales of 10 are running 233.3% ahead of last year's year-to-date sales of 3.

Prices

The median sales price in January was $644,750, up 35.7% from $475,000 in January of 2009 and up 1.4% from $636,000 last month. The average sales price in January was $688,530, up 28.7% from $535,000 in January of 2009 and down -22% from $882,983 last month.

Market Time

The average days on market in Katonah-Lewisboro school district in January 2010 was 192, up 16.4% from 165 days last month and up 113.3% from 90 days in January of last year.

Selling Price per Square Foot

The selling price per square foot is a great indicator for the direction of property values. Since median sales price and average sales price can be impacted by the "mix" of high or low end properties in the market, the selling price per square foot is a more normalized indicator on the direction of property values.The January 2010 selling price per square foot of $262 was up 4.5% from $251 last month and down -4.7% from 275 in January of last year.

Questions? Comments? Want to see a list of all sold properties? Interested in a complimentary Comparative Market Analysis (CMA) for your home? Feel free to email, call or text me - I'd love to be of help!