Housing market remains weak
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- April
- 24
Trends in sales of existing homes clearly favored buyers in March as median prices declined across the Lower Hudson Valley.
Year-over-year price declines were most severe in Westchester and Putnam counties, while Rockland prices turned negative again after producing year-over-year gains in February. Sales were also down in all three counties, according to numbers released yesterday by the New York State Association of Realtors.
Westchester’s median sales price tumbled to $508,900, down 17.1 percent from $613,750 in March 2008. Sales fell 30.7 percent. Though the year-over-year comparisons are weak, the sales decline was an improvement over February’s year-over-year decline of 41.8 percent.
Putnam’s median also plunged, down 20.2 percent to $318,000 as sales dropped 18.2 percent.
Rockland’s median fell the least, down 5.5 percent to $437,000 in March, an improvement over a year-over-year price decline of 13.2 percent in February. The county’s sales were down 13.9 percent, more than reversing a 7.3 percent gain in sales a month earlier.
Across New York, sales of existing homes were up in 11 of 59 counties reporting results. Median sales prices rose year-over-year in 23 counties.
The state’s median sales price of $225,000 was up 10 percent from March 2008, though sales were down 25.3 percent. The statewide numbers include partial data from three counties in the state.
Complete data is unavailable for — Bronx, Hamilton and New York — in the Realtors’ survey.
This entry was posted
on Friday, April 24th, 2009 at 4:14 pm by Frank Brill.
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