Westchester, Rockland, Orange Counties Single Family Home Sales Declined Slightly in 2014. Market Stable, Realtors Say

WPCNR REALITY-GO-ROUND. From the Hudson Gateway Association of Realtors. January 12, 2015:

The recovery of the real estate market in the lower Hudson region of New York continued strong throughout 2014 including its fourth quarter.

Realtors participating in the Hudson Gateway Multiple Listing Service, a subsidiary of the Hudson Gateway Association of Realtors, reported 14,169 closed residential transactions during 2014 among the four counties of the MLS’s core service area: Westchester, Putnam, Rockland and Orange. This was the highest number for any year since the 2008-2009 recession and 1.1% more than in 2013.

The highest percentage increase – 6.3% – was posted in Putnam County.  Rockland followed at 3.4%, Westchester at 0.6%, and Orange lost a little ground with a decrease of -0.8%.

Westchester, Rockland and Orange Counties all edged back on total sales of single family houses with decreases of 0.9%, 0.6% and 1.7% respectively.

However, they counterbalanced those losses with gains in their respective condominium and cooperative sectors.  Again, Putnam County stood out with an actual increase of 6.1% in single family house sales.

The fourth quarter postings of 2014 were especially strong in comparison to the fourth quarter of 2013.  There were 3,715 closings among all four counties during October through December of 2014, an increase of 6.9% over the same period of 2013, and on an individual basis each county posted an increase.

The region experienced price gains over the course of the year, mostly in the single family house sector.  The median sale price1 of a single family house in Westchester in 2014 was $635,000, an increase of 4.1% over the $610,000 posted in 2013.

In Putnam the median was $310,000 – a 0.6% increase, and in Rockland it was $400,000, a 3.2% increase.  Fourth quarter medians were of roughly the same magnitude.

Orange County continued to shed its stock of troubled properties – bankruptcies, short sales and the like – which had the effect of driving down the county’s average prices.   The median sale price of an Orange County house on an overall basis in 2014 was $231,250, a decrease of 1.4% from 2013.  There was a signal that this pattern may be ending, however.  Orange County’s fourth quarter median of $231,224 was 2.8% higher than that of 201

Inventory did not change much from year to year.  On December 31 of 2013 the number of for-sale properties posted in the MLS database was 8,942 units in all four residential categories:  single family houses, condominiums, cooperatives and 2-4 family houses. A year later in 2014 there were 143 fewer units, a 1.6% decrease that largely reflected the effect of the larger sales volumes of the past two years.

It appears that this area’s real estate market has stabilized onto a level track since 2013 and that there are no readily obvious derailments such as sharply increasing mortgage rates ahead.  2014  began with average rates of around 4.7% on 30-year conventional loans, which glided down to 4.0% in the late spring, and which have drifted around that rate point, mostly downwards, since then.  Housing here is more affordable as a result, even as prices increase at reasonable rates. The sales volumes are healthy and are supported by an appropriate level of inventory. They justify a cautiously optimistic outlook for more of the same in 2015.

 

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SILVER LAKE FREEZES OVER– WEATHER SERVICE PREDICTS WINTER PAELLA

WPCNR PHOTOGRAPHS OF THE DAY. By the WPCNR ROVING PHOTOGRAPHER. JANUARY 11, 2015:

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The Silver Lake view to the South. City Center on the horizon. Temperatures in the teens and twenties have frozen the old lake from shore to shore.

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Silver Lake View to the North from West Harrison Shore

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Silver Lake scene view northwest from White Plains Liberty Park

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  • TONIGHT–Snow and freezing rain likely after 3am. Increasing clouds, with a low around 27. Wind chill values between 20 and 25. South wind around 7 mph. Chance of precipitation is 60%. Little or no ice accumulation expected. Little or no snow accumulation expected.
  • Monday–Freezing rain and sleet before noon, then rain. High near 40. Wind chill values between 20 and 30. South wind 5 to 8 mph becoming calm in the afternoon. Chance of precipitation is 90%. New ice accumulation of less than a 0.1 of an inch possible. Little or no sleet accumulation expected.
  • Monday Night–Rain or freezing rain likely before midnight, then a slight chance of freezing rain and sleet between midnight and 3am. Mostly cloudy, with a low around 25. Wind chill values between 15 and 20. North wind 5 to 15 mph. Chance of precipitation is 60%. Little or no ice accumulation expected. Little or no sleet accumulation expected.
  • Tuesday–Sunny, with a high near 28. Wind chill values between 10 and 15. North wind 11 to 16 mph.

 

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WHITE PLAINS WEEK BEGINS 15TH YEAR COVERING WHITE PLAINS — JANUARY 9TH PROGRAM IS ON THE INTERNET NOW…ABOUT RIGHT NOW!

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2001-2015

BEGINNING ITS 15TH CONSECUTIVE YEAR OF WEEKLY NEWS CASTS

OVER 728 TELECASTS–WHITE PLAINS NEWS LEADER

ANCHORED BY PETER KATZ, JOHN BAILEY AND JIM BENEROFE

YOUR FRIENDLY NEIGHBORHOOD NEWSMEN

SEE THE JANUARY 9TH PROGRAM

AT

www.whiteplainsweek.com

ON

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MARIO CUOMO–HIS CONTRIBUTIONS TO WHITE PLAINS AND WESTCHESTER

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COUNTY CLERK TIM IDONI ON FORECLOSURE JUDGEMENTS EFFECTS ON REAL ESTATE PRICES

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CHILLER WEEK

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NEW SCHOOL SUPERINTENDENT’S NY STATE PENSION

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REAL ESTATE EXPERTS’ X-RAY OF WHAT’S REALLY HAPPENING IN HEALTH PROPERTIES, RESIDENTIAL, COMMERICAL AND INDUSTRIAL PROPERTY MARKETS

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NYSDEC WILL NOT REVIEW FASNY CONSTRUCTION PLANS UNTIL IT IS APPROVED BY THE COMMON COUNCIL.

ASSESSMENT ROLL APPEARS EVEN GOING INTO CHALLENGES OF ASSESSMENTS.

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COUNTY EXECUTIVE SURGES AHEAD WITH EFFORTS TO ATTRACT MILLENIAL GENERATION AND NYC  BUSINESSES WHO CANNOT AFFORD NYC TO COUNTY

AND MORE

 

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Always an Inspiration: Dr. Martin Luther King Breakfast January 19 in Recognition of The Man who Changed a Nation Peacefully

WPCNR MAIN STREET JOURNAL. From the Thomas Slater Center. January 10, 2014: 

Every year the Dr. Martin Luther King Breakfast held at the Crowne Plaza Hotel focuses for one day the remarkable achievement of Dr. Martin Luther King, Jr. who by emulating the Gandhi practice of non-violent, economic-based protest, virtually singlehandedly galvanized America’s leaders to end discriminatory laws against the Negro throughout the country.

Rodney and Lillian Reynolds will double team as the keynote speakers at the Thomas H. Slater Center’s 22nd Annual Dr. Martin Luther King Breakfast to be held on Monday, January 19, 2015, 8:00 a.m. at the Crowne Plaza, White Plains.
Lillian F. Reynolds is a Social Worker and Minister with extensive experience in planning, implementing and overseeing programs that meet the spiritual, emotional, intellectual, academic and social needs of youth, young adults and families.  She is the founding Project Director and now serves as the Executive Director of Grace CDF Freedom Schools®, a Ujamaa Community Development Corporation program.  Lillian is employed by the Mt. Vernon City School District as the District Homeless Student Liaison.
Rodney J. Reynolds, President of RJR Communications, Inc. is the Founder and Publisher of American Legacy magazine and Executive Producer of American Legacy Television.  Rodney founded American Legacy in 1995 and created a joint venture with FORBES Inc. Located in New York. American Legacy, celebrates African-American history and culture.
In February 2001, RJR Communications and New Millennium Studios launched American Legacy Television, a nationally syndicated TV program. In February 2009 RJR Communications assumed full control of American Legacy.
Rodney and Lillian are the proud parents of two sons, Rodney Jeremiah, and Richard Joshua. The family attends Grace Baptist Church in Mt. Vernon, New York.
With a mission To Reach and To Serve, The Thomas H. Slater Center, a community center located in White Plains, provides an array of services and programs to the residents of White Plains.
Tickets for the breakfast are $50 general, $45 seniors and $30 youth.  To make reservations, please email [email protected] or call (914) 948-6211.
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