2010 was an exciting year for Westchester real estate! Below is a summary of the past 4 years’ average and median price performance by school district or ZIP code. Why 4 years? Because that is how long it’s been since the peak of the market (4Q2007)! The magnitude of losses from 2007-2010 might surprise you, especially as compared with the equity markets (whose returns are also tallied below).


I find it particularly interesting to see where people are buying – check out the chart below, which has single family home sales broken out by price range.

At the end of 2009, I wrote: “I continue to believe that residential property prices are in the process of stabilizing and that the bottom is already behind us.” Despite interest rates off their lows and continuing economic uncertainty, I still believe that the bottom is behind us. In fact, a recently published market update from the Westchester-Putnam Association of Realtors said that “the median sale price of a Westchester single family house in the fourth quarter of 2010 stood about 3% above the 2009 level. Probably all of that 3% increase constituted true price appreciation.” Q4 condo and coop prices were also higher, by 3% and 2%, respectively, from 4Q2009.

My goal for 2011 is to help as many buyers and sellers as I can. In these challenging times, it is especially important to be represented by a team of professionals who work strongly on their clients’ behalf. My team of attorneys, inspectors, financial professionals and other vendors will continue to provide you and your referrals with outstanding service.