Health & Fitness
Croton Real Estate Market in August was a Step up From '10
Croton is up, but remains far from the peak
The August sales figures are in from the Empire Access Multiple Listing Service, and the single family home sales in Croton on Hudson show a marked improvement from last August.
In August of 2011, 7 homes closed in the Croton-Harmon school district at a median price of $520,000.
In August of 2010, only one home closed for $425,000. This was toward the end of the housing stimulus, but that figure is low.
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Given the state of the economy, 7 closings for almost $100,000 higher than last year is a marked improvement. Historically, however, it is far from a high water mark for the area. For example, in 2005, Croton had 13 closings at a median sale price of $649,000. Like just about everywhere else, we are off from the peak of the market when irrational exuberance was the driving force behind the market results.
There are currently 8 homes under contract for sale at a median asking price of $437,500. This indicates that lower priced homes are moving more than more expensive properties. Pending sales volume, while not high at 8, is far from sickly.
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It remains a buyer's market. 57 homes are active and available on the market at a median asking price of $550,000. As we go into the autumn market, which typically slows down toward Thanksgiving, buyers have both the luxury of choice and the likelihood of sellers feeling pressure to sell before year's end. One can only wonder how many more homes would have been put under contract in the past month has the debt ceiling controversy not occurred and a few tidbits of good news has been thrown our way.