Last year around this time, NYC real estate experts were calling the first and second quarter of 2010, “The Perfect Storm”. The key components being prices that were realistic, a variety of properties to choose from and low interest rates. Locally in Armonk and Chappaqua markets, we were hopeful that the offering of excellent public schools, commute, and overall lifestyle desirability would include momentum in sales for the northern suburbs.
In the Byram Hills School District, there was a 25% growth in 2010 sales from 82 single family homes sold in 2009 to 110 sold in 2010. Prices saw a depreciation of 11.4% . The median sales price went from $1,047,250 to $927,500. It appears that our prices are back to levels around 2003.
So was it the “perfect storm”? Demand certainly increased at a time where we needed momentum. As an agent, I’m feeling more confident that the buyers are back and ready to purchase. Value pricing is what’s important to sell a home. Sellers have to be realistic if they want to sell and listen to their agent and recent sales, statistics when listing their home. Buyers will purchase if they see value.
A special thank you to my clients and friends for my best year in business in 2010 withover $13M in sales in Armonk, Chappaqua and Bedford. Here’s to 2011 and a market that continues to grow!
For more information about Armonk and the Byram Hills School District visit www.armonkhomepage.com