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2007 Second Quarter Residential Real Estate Sales Report
Half way through 2007 the Westchester-Putnam housing market appears to have leveled out as to sales volume and key price points. So far this year, January through June, realtors participating in the Westchester-Putnam Multiple Listing Service have reported 4,269 closed residential transactions, just 1 % more than during the first half of 2006. That rate of closings, if sustained for the rest of the year, would yield a 12-month total of about 9,800 sales and would result in 2007 ranking fifth in total sales volume after 2005, 2004, 1999 and 1998.
The second-quarter postings, largely resulting from market activity during the early months of 2007, were somewhat weaker than those of the corresponding period of 2006. Single-family house sales in Westchester increased by just 1% but condominium and cooperative sales each decreased by about 3%, and multi-family house sales decreased one-third from last year. Putnam County house sales were down by 12% from last year.
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