2018 A Lackluster Year for Westchester-Putnam, Dutchess Real Estate.

WPCNR REALTY REALITY. Special to WPCNR From Houlihan Lawrence. January 8, 2018 (Edited):

Home sales in Westchester County were down 4.6% from the prior year while sales in Putnam County were up slightly by 3%.

Locally, White Plains, Greenburgh and Valhalla home sales rose 4% and the median price went up 5%.

Dutchess County sales declined 6.6% for the year.

The real estate markets in the suburbs north of New York City finished 2018 with generally slower sales, higher inventory in most markets and a decline in pending sales, according to a report released today by Houlihan Lawrence.

Meanwhile, median sale prices were somewhat higher in all three counties: Westchester ($650,000, up 1.2%), Putnam ($350,000, up 4%) and Dutchess ($281,500, up 8.3%).

Number of homes for sale in Westchester grew by 9.5% with the New York City Gateway submarket (Mount Vernon, Yonkers, New Rochelle and Pelham) posting the highest increase in inventory of 35.2%.

Putnam’s inventory remained virtually unchanged from the prior year while inventory in Dutchess declined by 11.8 %.

The number of pending sales in Westchester and Putnam fell 10.9% and 11.4 %, respectively, while pending sales in Dutchess declined by 17.2%.

Here are some highlights from the year-end report:

  • Westchester communities reporting double-digit increases in total sales for the year included Peekskill (33%), Hastings (25%), Rye Neck (26%), Greenburgh (14%), Pleasantville (13%) and Somers (10%).  Rivertown communities such as Peekskill and Hastings continue to attract buyers from New York City.
  • In Dutchess, the sales leaders were Clinton (27%), Beacon (20%) and East Fishkill (14%). Dutchess is enjoying an influx of residents from Brooklyn looking for a more relaxed country lifestyle, especially in the Village of Beacon which is undergoing a downtown revival.
  • In Putnam, Haldane, Mahopac and Brewster all posted double-digit sales gain for the year of 33%, 11% and 12%, respectively.

NYC Gateway

(Mount Vernon, New Rochelle, Pelham and Yonkers)

Homes Sold: down 8%

Median Sale Price: up 5%

Lower Westchester

(Bronxville, Eastchester, Edgemont, Scarsdale and Tuckahoe)

Homes Sold: down 11%

Median Sale Price: down 9%

Rivertowns

(Ardsley, Dobbs Ferry, Hastings, Mount Pleasant, Pleasantville, Tarrytown, Briarcliff Manor, Elmsford, Irvington Ossining, Pocantico Hills)

Homes Sold: down 2%

Median Sale Price: up 2%

Median Sale Price: up 5%

Sound Shore

(Blind Brook, Harrison, Mamaroneck, Port Chester, Rye City and Rye Neck)

Homes Sold: down 1%

Median Sale Price: up 2%

Northern Westchester

(Bedford, Byram Hills, Chappaqua, Katonah-Lewisboro, North Salem, and Somers)

Homes Sold: down 7%

Median Sale Price: up 1%

Northwest Westchester

(Croton-on-Hudson, Hendrick Hudson, Lakeland, Peekskill and Yorktown)

Homes Sold: down 4%

Median Sale Price: up 4%

Putnam County

(Brewster, Carmel, Garrison, Haldane, Lakeland, Mahopac and Putnam Valley)

Homes Sold: up 3%

Median Sale Price: up 4%

Southwest Dutchess

(Beacon, East Fishkill, Fishkill, La Grange, Poughkeepsie, City of Poughkeepsie and Wappinger)

Homes Sold: down 3%

Median Sale Price: up 10%

Southeast Dutchess

(Beekman, Dover, Pawling and Union Vale)

Homes Sold: down 12%

Median Sale Price: up 8%

Northwest Dutchess

(Clinton, Hyde Park, Milan, Pleasant Valley, Red Hook and Rhinebeck)

Homes Sold: down 14%

Median Sale Price: up 9%

Northeast Dutchess

(Amenia, North East, Pine Plains, Stanford and Washington)

Homes Sold: down 13%

Median Sale Price: down up 11%

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