Right now is a really great time to be buying a home in Westchester or the Hudson Valley. Man, do I hate saying that. As I’ve explained before, I hate the phrase “great time to buy” for a couple of reasons. First, people have different needs, and a market that’s great for one person might be terrible for another person. Second, while markets tend to move together, we … [Read more...]
Homes in Westchester and the Hudson Valley are STILL Cheaper Than They Have Been in a Generation
Right now is a really great time to be buying a home in Westchester or the Hudson Valley. Man, do I hate saying that. As I've explained before, I hate the phrase "great time to buy" for a couple of reasons. First, people have different needs, and a market that's great for one person might be terrible for another person. Second, while markets tend to move together, we … [Read more...]
Are Home Prices in the Manhattan Suburbs Due? — The Big City Exodus Theory
Are home prices in the New York City suburbs on the rise? We're not seeing it in the data just yet. Even with home sales up pretty robustly for the past five years, home prices in the Manhattan suburbs have been relatively flat since their financial crisis correction back in 2008-2010. At some point, you have to think that increasing demand with a flat supply is going to … [Read more...]
Why is the Westchester Average Sales Price Down, When Sales Are Way Up?
Why are Westchester prices down? If you look at the Westchester single-family housing market, comparing the year-to-date 2016 to 2015 as of the end of May, what you find is a little perplexing: sales are up 12%, but prices are sharply down across the board: down 7% on average, 5% at the median, and 4% in the price-per-square-foot. And by "perplexing," I mean "if … [Read more...]
Homes in Westchester and the Hudson Valley are More Affordable Than in a Generation
I have always hated it when real estate professionals say "it's a great time to buy." It always seems so self-serving, and I know it immediately causes suspicion. So I'm not going to SAY that it's a great time to buy a home right now. I'm just going to show you. Specifically, I'm going to show you that the monthly payment you need to make to buy an averaged priced home … [Read more...]