I am from Ossining. I grew up here and no place is closer to my heart. The village lies on the banks of the Hudson River and is an amalgam of densely populated somewhat urban sections as well as more bucolic subdivisions as you go inland. Ossining is a hilly place, with streams, brooks and a nice mix of pre war homes and newer baby boom era housing.
This data is for the village of Ossining only and is taken from the Westchester-Putnam Multiple Listing Service. It compares the sales of single family homes from the first quarter of 2006 through to the first quarter of 2009. I cut the data off at March 27 of each year so the numbers would be consistent.
|Year||# Sales||Average Price||Median Price|
|2006||29||$ 486,939.00||$ 431,500.00|
|2007||26||$ 465,923.00||$ 413,500.00|
|2008||19||$ 464,559.00||$ 420,000.00|
|2009||8||$ 405,688.00||$ 385,500.00|
There was a downward trend from the high point of 2006 until the wheels came off in 2009. Nothing new here; the pool of borrowers is tiny, prices are down, and the number of sales is down more than 50%. The thing that comes to mind for me is not just the market. There are 9 real estate firms in the 10562 (Ossining) zip code with 80 licensees ostensibly serving the area. There are also more agents from numerous firms in nearby Briarcliff that also service the village which probably doubles the number of agents. That is an awful lot of agents to split up 8 sales. I work all of Westchester and neighboring areas, so my wagon isn’t hooked up to one marketplace.
Ossining will certainly bounce back, but money needs to circulate again for more people to take advantage of the lower prices. There are 62 active listings for single family homes alone in the village, making now an exceptional opportunity to buy.
You can search the MLS like an agent at http://jphilip.listingbook.com.
J. Philip Faranda ranks among New York’s premier short sale REALTORS specializing in short sales in Westchester, Rockland, Putnam & Dutchess Counties. www.NYShortSaleTeam.com. Read Phil’s short sale blog at http://NewYorkShortSaleBlog.wordpress.com.
J. Philip Serves Briarcliff Manor, Ossining, Croton on Hudson, Pleasantville, Sleepy Hollow, White Plains, Yonkers, Peekskill, Cortlandt, Tarrytown, Yorktown, Montrose, Hawthorne, Thornwood, Valhalla, Hartsdale & all of Westchester County, New York.