At this time last year, the First Time Homebuyer Tax Credit had come to an end with closings occurring no later than June 30th, 2010 to qualify for the tax credit. As a result of this one-time event, the first half of 2010 was frontloaded with transactions, skewing a comparison of First Half 2010 vs First Half 2011. Since data is most meaningful when put in context, it is not surprising that volume is down.
In Westchester County, the number of single family homes sold in the First Half of 2011 is down by 13%, when compared to First Half 2010. However a look at current active listings and the number of pending sales (those expected to close within the next 60 days) indicates a balanced market with a healthy number of buyers.
In Putnam County, the number of single family homes sold in the First Half 2011 is down by 14%, when compared to First Half 2010. The median sale price has increased by 4% when compared to last years median.
Total first half sales of single family homes in Dutchess County have decreased by 19% when compared to the First Half 2010 and the median sale price has gone down by 4%.
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