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Croton Real Estate Market Update

Croton on Hudson's Real Estate numbers were up in July but still down for the year.

According to the data from the Hudson Gateway MLS for single family home sales, Croton on Hudson had a very good July compared to the same time period last year. Both sales volume and median price were up. 

For July 2012 7 homes sold at a median sale price of $620,000.
For July 2011 6 homes sold at a median sale price of $500,000. 

7 homes are under contract at a median list price of $450,000. Clearly, the coming months will be at a lower volume and median sale price. 

For the year to date, 31 homes have sold at a median sale price of $468,750.
For the same period in 2011, 37 homes closed at a median price of $549,900.

That is quite a decline, but it shouldn't be alarming. 

Simply put, all real estate is local, and while the nationwide trend is better, Croton is having a slower 2012 than 2011. It happens. It is not a large sample, and this data doesn't mean that the typical home is worth $110,000 less than last year; it simply means that the activity is lower and the transactions are at lower price points. Croton is not a big enough area to read much more into it than that. 

There are 51 Active listings at a $575,000 median list price. Consumers certainly have choices going forward. That gives the last 5 months of the year great potential if homebuyers recognize the opportunity. 

 

For more real estate commentary, log onto Westchester Real Estate Blog, authored by J. Philip Faranda, broker and owner of J. Philip Real Estate.

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

Robert Rose September 27, 2012 at 02:41 PM
Our housing prices are horrible. We bought our home in Croton in 1986 for $400,000 and it's beautiful, with a pool and tennis court and under NORMAL conditions we should bet $1.2 mil for it now. We'd be LUCKY to even get $600,000 for it now after all this time. Something has to change. This is really bad.
RubyThursday September 27, 2012 at 08:36 PM
MITT ROMNEY 2012

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