Active Rain October 8, 2010

Peekskill Real Estate Market September 2010


This is the market data for September of 2010 for single family homes in Peekskill, and all information is sourced from the Westchester-Putnam MLS.

Peekskill Real Estate Market September 2010 Peekskill Westchester County

There was nowhere to go but up after a very poor August, and we may be looking at a “new normal” for this charming little city on the Hudson. The median price is up from last month but down over $160,000 from September of 2009. Transactions totals are higher, which is a good thing, but the volume of available properties- 81- means there is almost 2 years worth of inventory available, which will suppress prices. 

With 8 pending sales last month, and 4 pending sales this month after the 4 September closings, nothing new has gone into contract in the last month. When your median sales price is less than $200,000 and the median asking price is $279,000, it doesn’t take a genius to figure out that the buying public is still waiting for prices to decrease. I am working on a deal that will add a sale to the hopper and greatly increase the median price, and that is because I have clients who know and love the area. They have good reason- Peekskill is a great place to live and work, and when the buyers wake up to what they can get at these low prices, you’ll see a spike. All markets are cyclical, and I think we are witnessing the calm before a storm of activity. 

Get yourself a free Listingbook account and check out homes for sale in Peekskill. It is absolutely a buyer’s market here.

Previous posts about Peekskill are here.  

 Peekskill by the waterfront