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JUNE 3– THE BOWMAN REPORT
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enjoying the warmer weather as summer begins. My team and I have continued assisting our neighbors, advocating for the district in Congress, and spending time in our community.
I was also grateful to be able to speak with so many of you this month as I was out in our community. I joined a memorial in Mamaroneck to commemorate the lives of members of our community who have lost their lives to the COVID-19 pandemic. As Americans continue to be infected and others live with the lingering effects of Long COVID, we must strengthen our healthcare system, fight for Medicare for All, and research the effects of COVID to save lives.
BRUSH UP YOUR SHAKESPEARE! FROM JUST OFF-BROADWAY FAME TO ON THE TOWN IN WESTCHESTER. SHAKESPEARE’S MEASURE BY MEASURE GETS BRUSHED UP BY ARMONK PLAYERS!
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JUNE 3–APRIL MEDIAN SALES PRICES FOR SINGLE HOMES UP 32% IN WESTCHESTER, SALES OF SINGLES UP 11.3%
WPCNR REALTY REALITY. From the Hudson River Gateway Association of Realtors (edited) June 3, 2024:
Last week’s report by the Hudson Gateway Association of Realtors (HGAR), based on data supplied by OneKey® MLS, also indicates that sales of single-family homes in the Bronx, Putnam and Sullivan counties decreased in April. The largest decline was in Putnam at 32.3%, followed by the Bronx at 31.4% and Sullivan at 22.2%.
Westchester County
Sales of condos in April experienced the highest jump at 32.5%, compared to single home sales with an 11.3% gain.
Co-op sales, however, saw a decline of 15.1%.
The median sales price for single-family homes keeps climbing – this time by 16.4% to $870,000. In April 2023, the median was $747,500.
Co-op median sales prices rose by 5.6% to $190,000, while the median for condos declined by 10.3% to $477,500. This time last year, the median stood at $532,500.
New listings for all property types increased, with single-family homes taking the lead at 11.3%, followed by condos at 10.8% and co-ops at 1.7%. Pending sales for all properties are up by 16.5%.
Inventory fell for all property types with co-ops experiencing a 38.9% drop, followed by single-family homes with a 25.2% decline and condo, at 11.8% less. As of April, there were just 2.4 months of supply availability, which is down 17.2% from last year.
New listings of single-family homes rose in the Bronx, Westchester, Putnam, and Orange counties, while pending sales for all property types increased in every region except Rockland and Orange counties. Westchester showed the highest amount of new single-family listings at 11.3% over this time last year, while Putnam County had the highest growth in overall pending sales at 17.6%.
Condos in Rockland and Orange counties saw double-digit jumps in median sales prices, while median sales prices for condos in the Bronx and Westchester decreased by double-digits. Rockland County’s median priced condo sold for $390,000 – an increase of 12.6%. Conversely, new listings for condos declined in both Rockland and Orange counties, while increasing in the Bronx, Westchester, and Putnam counties.
Co-op median sales prices were also on the rise in the Bronx, Westchester, Rockland, and Orange counties. Orange County experienced the highest gain of 95%, with a median price of $195,000, up from just $100,000 in April 2023.
However, demand continues to outpace supply. Single-family homes in Westchester County saw the largest drop at 25.2%. “While inventory remains low across our region, signs are pointing to a more vibrant spring and summer market with both new listings and pending sales growing,” said Lynda Fernandez, HGAR CEO. “The fact that property sales continue to rise is also a good indicator of the consistent demand for housing in our region.”