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Report: 2012 Real Estate Market Picks Up in Rye Area

More single-family homes were sold in Rye, Port Chester and Rye Brook in 2012 than in 2011.

The pace of residential real estate sales picked up considerably in 2012 in the four counties of the lower Hudson region – Westchester, Putnam, Rockland and Orange, according to the Realtor firms participating in the Hudson Gateway Multiple Listing Service (HGMLS), a subsidiary of the Hudson Gateway Association of Realtors.

The Realtors reported a regional sales aggregate of 11,481 residential units consisting of single-family houses, condominiums, cooperatives, and in the case of Westchester, 2 to 4 family buildings as well. This was a 15 percent increase over 2011’s total of 9,973 sales.

In all of Westchseter County, single-family home sales median price in Q4 was $545,000, a 3.8 percent increase from a median price of $525,000 in Q4 2011. For the full year, median sale price was $587,000, down from the full year median price of $600,000 in 2011.

Single-family home sales in the Sound Shore region were up 53 percent in the fourth quarter of 2012, according to Houlihan Lawrence. 

View the charts below for a look at number of homes sold and median sales price.

Homes Sold in Blind Brook, Port Chester and Rye City School Districts

Q4 2012 Q4 2011 Percent Change Full Year 2012 Full Year 2011 Percent Change Blind Brook 12 17 -29% 61 55 11% Port Chester 19 11 73% 79 51 55% Rye City 34 19 44% 153 132 16%

In the Sound Shore area, 156 homes were sold in Q4 of 2011, up from 102 in Q4 of 2011. In total, eight percent more homes were sold in 2012 than 2011 and the median price dropped by about 6 percent.

Median Sale Price of Single Family Homes in Rye, Port Chester and Rye Brook

Q4 2012 Q4 2011 Percent Change Full Year 2012 Full Year 2011 Percent Change Blind Brook $754,250 $745,000 1% $767,500 $779,000 -2% Port Chester $512,000 $392,250 31% $406,000 $425,000 -5% Rye City $1,725,000 $2,025,000 -15% $1,570,000 $1,514,000 4%

 To read more about the trends in Westchester County, click here. 

*All of the above information was provided by Houlihan Lawrence's Q4 2012 Market Report. 

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