Thomas Roberts

How is the Real Estate market in New Rochelle, NY you must look at the absorption rate for single family houses.

The current absorption rate in New Rochelle, NY for single family houses that match the criteria of 3 and 4 bedroom 1and 2 bathroom houses is 58.69 weeks per unit. Here is the math. As of April 15, 2009 there are 54 homes on the market in New Rochelle, NY with the above mentioned criteria. From March 15, 2009 to April 15, 2009 4 homes sold. Multiply 4 by 12 = 48 houses divide 48 houses by 52 weeks in a year and you get .92 houses sell per week. Divide 54 active units by .92 and you get 58.69 weeks to absorb the 54 units that are currently on the market. This is a statistical analysis that was pulled from data on the MLS. Homes sell for a variety of reasons in a variety of time frames and each individual home may take more or less time than what the statistics are saying.

Here are some other interesting real estate statistics about New Rochelle, NY. Between April 17, 2008 to April 17, 2009 there were 184 single family homes in New Rochelle, NY that sold. The criteria I used were 3 bedroom 1 bathroom single family homes as a starting point and going up in size houses from there. The lowest priced single family home sold in New Rochelle for $185,000 had 3 bedrooms 1 bathroom with 1050 square feet on a .060 lot. The highest priced home that sold in New Rochelle was a newly constructed home on the New Rochelle/ Scarsdale border that had 6 bedrooms 5 bathrooms with 4343 square feet on .32 acres for $1,800,000.

If you would like to know your homes current value in New Rochelle, NY send me an e-mail and I can do a free market analysis for you.

I do not know if anyone watched Chris Mathews speak with Jim Kramer from Mad Money about the economy and the G20 in London. They were basically saying that it is possible that the worst of the financial crisis and recession is behind us and that we are starting to turn the corner. They also said that we have a long way to go however the worst is over. At least that is what I took from the interview. How does everyone feel about this?