Health & Fitness
Gary's 1st Qtr 2014 Real Estate Update
Gary's 1st Qtr 2014 Real Estate Update
While the first quarter of this year was chaotic because of all the snow and storms it was anything but that in terms of Real Estate closings. Single family house sales in Westchester County through the MLS for the 1st quarter of 2014 showed a 19% increase from the 1st quarter of 2013. Most of these transactions were negotiated during the 4th quarter of 2013 and they then closed in the first part of this year.
This sales activity was affected by a significant increase in the number of $1,000,000 plus home sales. In fact, for the 1st quarter of 2014 Million Dollar plus house sales actually made up 23% of all single family house sales in the county.
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The median price for all house sales was $600,000. Median price is when half the properties sold for less and half sold for more.
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This brings us to today where active inventory is low and multiple offers are common. It will be interesting to see if this increased sales pace continues as we progress further into 2014.
Don't hesitate to give us a call; we'd love to hear from you to discuss your real estate investments in greater detail or any other questions you may have.
Gary Leogrande, Real Estate Broker
