White Plains NY Real estate Market Update October 2014

The White Plains NY Real Estate Market continued to see strong sales through Septmber with 16 single family homes closing.  Much of this is residual from the busy summer months and the numbers are down from 19 in September 2013.  The median home price was $542,000 which is down 4.3% from $566,750 this time last year.  Inventory levels of 92, a pretty healthy number but down from 95 in August and down considerabley from 130 in Sept 2013.  The average days on market was 65 down substantially from 133 last September.

White Plains condo sales of 15 were not far behind single family homes, hovering over coop sales, and down 25% from 20 in September 2013.  The median price was $380,000 which is also down from $420,000 in September 2013.  Inventory of 91 units is up 11% from 82 in August and 5.8% this time last year.  New listings are way up and the months if supply as well.  The average days on market of 82 is down considerably from 125 in August and 132 in Septmeber 2013.

There were 12 White Plains coop sales in September which is unchanged form last year.  This is the lowest unit sales have been since 8 in February 2013.  The median price was $167,000, up 28.2% from $130,250 in September 2013.  Inventory levels of 130 are the same as August and new listings of 26 are up from 20 in August but way down from 41 in September 2013.  Days on market of 134 in September was up somewhat from 107 in August but down substantially from 228 in September of 2013. This is the highest days on market has been since April, 2014.

Overall The White Plains Real Estate Market is still going strong and if you are considering buying or selling there your chances are good!

Ever Wonder How The Grammy Voting Process Works?

Many often wonder how the voting process for the Grammy's actually works.  It's not easy and many people are involved, more then you realize.  Here's how they do it,

1. More than 20,000 artistic entries are submitted for consideration, and members vote one round, making up to five selections in each category.

2. A "star chamber" of experts -- about 150 from the various fields -- reviews round one's selections and casts secret ballots to determine the final nominations, honing the choices in each category from 15 to five.

3. Grammy voters review the final list, the nominations (now five in each category), and place one vote in up to 20 categories (according to their fields of expertise), then mail in their votes on a paper ballot. Accounting firm Deloitte tallies the votes and places winners' names in sealed envelopes.

Christopher Pagli
Accredited Buyer Representative
Real Estate Associate Broker
www.WestchesterCountyRealEstateMarket.com

914.406.9023

Chris@LegendsRealtyGroup.net 

Tarrytown NY Real Estate Market Update October 2014

As expected, Tarrytown Single Family and Condo sales have cooled down a bit from the busy spring market.  There were 4 single family sales which is up from 2 in September 2013 along with the sales/list price ratio of 97.6%.  The median price was $517,500, up from $492,500 this time last year.  Please note that this is the lowest the median price has been since March 2014.  

 

Inventory levels of 26 are up 13% from 23 in August but down 25.7% from 35 in September 2013.  The average days on market of 83 is way up from 52 in August and a bit from 70 in September 2013.

 

Tarrytown Condo sales were a total of 4 as well which is also up from 3 this time last year but the sales/list price ratio decreased 1%.  The median price was #340,000, down from $499,000 in September 2013 and is the lowest the median price has been since April 2014.  

 

Inventory levels of 19 units is down 9.5% from 21 in August and 40.6% from September 2013.  The average days on market of 36 is down considerably from 147 in september 2013.

 

We should see more inventory come on in the coming months as many try to get a jump on the spring market.  It seems that it starts earlier and earlier every year.  The bottom line is that serious buyers will be out anytime of year.  So if you are considering selling your home have your agent analyze the amount of inventory, absorption rate, and guide you accordingly.

 

Christopher Pagli - www.WestchesterCountyRealEstateMarket.com

Accredited Buyer Representative

Real Estate Associate Broker

William Raveis Legends Realty Group

914.332.6300 office

914.406.9023 cell

 

Chris@LegendsRealtyGroup.net

mrwestchester.blogspot.com

This Is Not Your Average Open House...

The debate on whether open houses are effective or net seems to never end.  Quite often I hear valid reasons why they are or are not worth the time.  Here is my perspective...I hold open houses for all of my properties, period.  I have been hired  by a seller to sell their home.  That means I will market the property in every way possible to bring a ready, willing, and able buyer through the door.  Marketing a property is like a puzzle, all the pieces and avenues come together to complete the sale.  

Many say that open house are a way for agents to pick up buyers or a chance for nosey neighbors to come through and snoop.  So what if an agent picks up a buyer at an open house?  The buyer willingly showed up to the open house and was obviously impressed by the agent.  In NY, we are technically supposed to ask the sellers permission to work with the buyer since they came to the open house, did you know that?  Meeting a buyer at an open house doesn't necessarily mean they are going to work with you, YOU have to be able to convert them.  

As for nosey neighbors, I don't mind if they come through because you never know who they know looking to move into the neighborhood.  I sold a home to a neighbor's mother who had been looking in the neighborhood for the right property to come on the market, it was mine.  

I try to be as creative with my open houses and never, ever, hire clowns or give away TV's.  I don't want the focus to be taken away from the home, that is why we are all here.  If they have to be enticed by fluff and carnies, they aren't real buyers.  That's just me, others may have success with it but I stick to marketing and great sign placement.

As agents we should travel down every avenue of marketing because WE never know when or how we will meet that ONE buyer for a property, all we need is one.  

Christopher Pagli - www.WestchesterCountyRealEstateMarket.com

Accredited Buyer Representative

Real Estate Associate Broker

William Raveis Legends Realty Group

914.406.9023

Chris@LegendsRealtyGroup.net