Sales of single-family homes in Westchester County rose slightly from April to May, yet lagged behind the booming pace of the two previous spring seasons, according to the New York State Association of Realtors (NYSAR) in its monthly housing market survey.
Of 390 existing single-family homes sold in Westchester in May ”“ up 4 percent from April, but down 7.1 percent from May 2006 ”“ the median sales price was $675,000. That was up 5.8 percent from April yet below median sale prices for the same month one and two years ago that topped $700,000.
In neighboring Putnam County, house sales jumped by nearly 64 percent from April to May and well surpassed sales in May of the two previous years. Of 90 existing single-family homes sold there ”“ up from 55 in April ”“ the median sale price was $398,750. That was a 7.2 percent increase from the previous month yet nearly 10 percent below the county”™s median price of $442,500 a year ago.
May home buyers were notably active, too, in Orange County, which saw a nearly 32 percent jump from April. Of 242 single-family homes sold there ”“ down 17.4 percent from the peak volume of May 2005 ”“ the median sale price was $318,450. That was up 6.4 percent from April but down slightly from the county”™s median price a year ago of $320,000.
In Dutchess County, house sales rose 4.5 percent from April to May. Of 209 single-family homes sold ”“ down 17.1 percent from May 2006 ”“ the median sale price was $346,000, up slightly from April.
In Rockland and Ulster counties, house sales dropped from April to May. In Rockland, which had a 7.6 percent decline in monthly sales, the median price was $505,000 for 121 houses sold. In Ulster, where monthly sales dropped by 3.7 percent in May, the median sale price for an existing single-family home was $261,000. That marked an increase of 2.7 percent from April and 12.5 percent from May 2006.
Statewide, sales of existing single-family homes in May rose by more than 14 percent from April, NYSAR reported. The statewide median sale price in May was $239,000, down 3.2 percent from April. The statewide median was up slightly from the May 2006 median price of $235,000.
“While there has been a softening in completed sales compared to the most recent boom markets, sales activity in New York state remains at historically strong levels with the anticipated slowing in median price growth,” said NYSAR CEO Charles M. Staro. “The April-to-May increase in sales provides a solid starting point for the late spring and summer market, which is typically the most active in our state.”
