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WPCNR REAL ESTATE REALITY. Statistics from the Hudson Gateway Association of Realtors. Comment by John F. Bailey. April 8, 2019:

Westchester residential sales declined 3.5% in the first quarter of 2019 from the first quarter of 2018.

The median price (price of a middle of the market single family home the home most in demand) declined to $605,000 from $612,500 a year ago. Sales of Single Family Homes declined 5.6% from last March.

Buyers are considering co-ops and 2 to 4 family homes more than single family residences and condos..

The 2 TO 4 Family Home  median price went up over $100,000 13.8%  to $535 ,000, up from $419,052 a year ago. The average price of a 2-4: $551,007, an astounding advance of 16.2% (to this reporter). Aside: it remains to be determined whether these are speculative sales by real estate investors, or actual first home buyers.

Condos declined 1.5% in sales but gained in price with a median sale of $360,000 up 2.5% from March 31, 2018. The average condo sale was $426,251 up 2.5% over a year ago.

Co-ops hummed going up 9.7% in price (median: $170,000 up $9,000 from $155,000 from the end of last March. Average price of a coop: $193,968, about $5,000 more than last year at this time.

Single Family Homes– the in-demand market —not so good.

The Single Family Homes were down 5.6% at 983 sales, 41 homes less 1,024 in last year’s 1^st quarter. The midpoint sales figure of all sales of Single Fams, half above, half below sold above or below this price was $605,000. Down from $612,500 from a year ago, a 1.2% decline.

Average price of single family home this first quarter $758,219, down  8.1% from a year go. The higher average price reflects sales of more expensive homes inflating the median figure of $605,000 to $758,219.

The Hudson Gateway Assocation of Realtors notes:

“Westchester and Rockland Counties, the areas with the highest price points, saw an easing of critical inventory shortages which could translate to healthier spring sales a result of  better product (housing) selection and an easing of upward pressure on prices.

“Overall the entire service area (Westchester, Putnam, Rockland, Orange and Sullivan Counties)  is experiencing a high level of economic activity and very low rates of unemployment. These factors coupled with particularly attractive mortgage rates are indications that the housing market should continue on solid ground.”