Providing a comprehensive picture of the Westchester County (or, Connecticut) residential real estate market, our Quarterly Market Watch Reports offer an extremely valuable resource for consumers, real estate professionals, financial institutions, the media and other professionals associated with the market.
Each report includes in-depth analysis of home sales activity and prices, outlining current conditions, historical trends and emerging directions that point to where the market is headed.
Home sales in the first quarter of 2014 built upon the strong 2013 annual sales results. We saw heightened demand for properties in the mid to upper price ranges as well as new construction, while sales of homes priced at the top of the market were relatively quiet due to low inventory. Condominiums and co-ops continued to experience vibrant demand. Since every market is different, please read the First Quarter 2014 Market Watch for the details on your community.
The pace of the housing recovery picked up speed in 2013, and by year’s end activity spread to encompass previously quiet segments of the market including the luxury, new construction and even raw land segments. Condominiums and co-ops experienced particularly strong volume growth, breaking the trend of previous years and satisfying pent-up demand. Since every market is different, read the 2013 Year-End Market Watch to learn more about your community.
Driven by improved consumer confidence, the third quarter market results are the highest we have seen post-recession in most of our housing markets. With activity at a five-year high, a quick snapshot of the market reveals that inventory levels and days on market are still declining, that prices are level while the median selling price is rising, and that the luxury market is starting to come back. Since all real estate is local, please read the Third Quarter 2013 Westchester Market Watch for a detailed analysis of your community.