- New Developments
The severe winter weather of the first quarter pushed Westchester contract activity into the spring market. Despite the decline in closed sales, second quarter contract signings were higher than the previous spring. Overall single family price trends were generally stable, while the prices of condos and multifamily properties increased. We saw listing inventory rise for all property types as sellers continued to venture into the market. We anticipate more of the same market conditions over the coming quarters. The Putnam housing market showed stability in prices, yet there was less negotiability between buyers and sellers. Condo market price increases outpaced the single family market. Listing inventory began to return to the market, giving buyers more to choose from. The overall market is expected to show similar conditions over the remainder of the year.
Produced in conjunction with Miller Samuel, a leading independent appraisal firm, our market report series is the benchmark for residential real estate market information and an essential reference source for consumers, the media, financial institutions, government agencies, researchers and other market professionals. Each report provides an analysis of price and sales trends as well as many other metrics to give readers an idea of current conditions as well as historical and emerging market trends.
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