WESTCHESTER …The final quarter of 2013 for the Westchester
housing market was characterized by rising
sales, and falling inventory and modest price
gains year-to-date. Median sales price expanded
7.6% to $425,000 from the prior year quarter,
the second highest level in 8 years and the 4th
consecutive quarterly gain. However, average
sales price and price per square foot declined
3.5% and 6% respectively over the same period.
In the year-to-date analysis, all price indicators
were above the same period last year. Median
sales price expanded 5.1%; average sales price
increased 2.4%; and average price per square
foot rose 0.4%…

PUTNAM …There were 222 sales in the quarter, a 20.7%
jump from the same period last year. Over the
same period there was a 5.9% decline in the
number of listings in inventory, falling to 701. The
combination of rising sales and falling inventory
resulted in a 9.5 month absorption rate, the fastest market pace in 7 years. Price indicators
were generally mixed as compared to the prior
year quarter. Median sales price slipped 3% to
$284,500, while average sales price expanded
3.3% to $346,352 from the same period last