White Plains NY Real Estate Market Reports, March 2014

Single Family Homes

Sales

There were 13 unit sales in March. This is down 7.1% from 14 in March of 2013. Sales/list price ratio in March moved up to 97.4% from 96.4% in February.

Prices

Median price in March was $580,400. This is up 6.5% from $545,000 in March of 2013. 3-month median price of $578,950 in March was up just slightly from $560,000 in February and up marginally from $574,000 in March of 2013.

Inventory

Inventory of 98 in March was up 30.7% from 75 in February but down 14.0% from 114 in March of 2013. New listings of 41 in March were way up from 11 in February and up considerably from 23 in March of 2013. Months of supply of 5 in March was up moderately from 3.8 in February but way down from 7.6 in March of 2013.

Market Time

Days on market of 128 in March was down a little from 132 in February and down substantially from 315 in March of 2013.

Condos

Sales

There were 6 unit sales in March. This is down 33.3% from 9 in March of 2013. This is the lowest unit sales have been since 2 in October, 2010. Sales/list price ratio in March moved up to 96.0% from 94.6% in February.

Prices

Median price in March was $342,250. This is down 15.2% from $403,500 in March of 2013. This is the highest median price has been since October, 2013. 3-month median price of $335,000 in March was very slightly up from $325,000 in February but down modestly from $397,000 in March of 2013.

Inventory

Inventory of 85 in March was up 6.3% from 80 in February but down 12.4% from 97 in March of 2013. New listings of 23 in March were up substantially from 11 in February and up somewhat from 19 in March of 2013. Months of supply of 6.4 in March was up a little from 5.9 in February but down modestly from 7.6 in March of 2013. This is the highest months of supply has been since August, 2013.

Market Time

Days on market of 109 in March was up slightly from 93 in February but down considerably from 175 in March of 2013. This is the highest days on market has been since September, 2013.

Coops

Sales

There were 13 unit sales in March. This is up 8.3% from 12 in March of 2013. Sales/list price ratio in March moved down to 94.3% from 95.4% in February.

Prices

Median price in March was $140,000. This is up 35.6% from $103,250 in March of 2013. 3-month median price of $141,250 in March was down a little from $155,000 in February and down modestly from $160,125 in March of 2013.

Inventory

Inventory of 149 in March was up 1.4% from 147 in February but down 19.9% from 186 in March of 2013. New listings of 36 in March were up moderately from 28 in February and up slightly from 32 in March of 2013. Months of supply of 10 in March was very slightly up from 9.9 in February but down moderately from 14.2 in March of 2013.

Market Time

Days on market of 271 in March was way up from 157 in February and up considerably from 220 in March of 2013. This is the highest days on market has been since March, 2012.

Multi-Family Homes

Prices

3-month median price of $750,000 in March was up substantially from $215,000 in February and up considerably from $341,000 in March of 2013.

Inventory

Inventory of 12 in March was up 9.1% from 11 in February but down 14.3% from 14 in March of 2013. New listings of 1 in March were up from 0 in February and up from 0 in March of 2013. Months of supply of 10.5 in March was up a little from 9.6 in February and up somewhat from 8.6 in March of 2013. This is the highest months of supply has been since October, 2013.

Christopher Pagli - www.WestchesterCountyRealEstateMarket.com
Accredited Buyer Representative
Real Estate Associate Broker
William Raveis Legends Realty Group

914.406.9023 cell
914.332.6300 office

chris@legendsrealtygroup.net
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