Lower Priced Real Estate is What is Selling in Croton

The November sales results are in for the Croton on Hudson real estate market, and it is clear that the buyers are gravitating toward the lower priced homes, leaving the higher price brackets more available for the post-holiday market.

In November 2011, there were 5 single family homes sold for a median sale price of $380,000.
In November 2010, only 3 homes sold in Croton, at a slightly higher median price of $402,500.

9 homes are under contract at a median asking price of $380,000.

All of this seems fairly consistent until you look at the available homes on the market. 48 houses are for sale, and the median asking price of the available homes is a whopping $668,500.

This is not unheard of; there is a cyclical nature to the market, not just in activity, but also in the type of buyer in the marketplace at any given time. For example, the springtime is busier due to the school year cycle where many want to be in their new home by the summer, and these homes typically have more bedrooms to suit that sort of buyer's needs. This is most likely the dynamic at play. We have seen periods where the median price in Croton has varied widely, and that is why seasonal adjustments are so valuable.

So, if you are selling a home in Croton for more than $380,000, fear not. You are part of a very attractive selection of homes that will see quite a bit of action once the holidays are over and Spring comes back into the field of vision for the consumers. If you are a consumer who is watching the market, your level of choices right now is quite high, and that will make for some decision when the time comes to pick the right nest.

For more real estate commentary, log onto WestchesterRealEsatteBlog.net.