Summer is upon us! We have already experienced several heat waves, and the remainder of July and August are looking to be just as hot.
The record-breaking is not only taking place in the temperatures. A mild winter and warm spring led to an amazing first quarter in the Edgemont real estate market. The second quarter continued the trend with an increase in sales activity.
It is our pleasure to provide you with our 2012 Second Quarter Edgemont Market Report which details the residential single-family real estate statistics for Edgemont. This report utilizes data from the Hudson Gateway MLS, and focuses on transactions closed in the second quarter of 2012 (April 1 – June 30).
Market Snapshot (Compared to the same period in 2011):
• Edgemont’s average sales price for the second quarter
• The “Days on Market” average increased.
• Price per square foot increased.
The decrease of already historically low mortgage rates has likely led to the increase in buyer activity. However, because more buyers are utilizing lending agencies to buy, the lengthy banking process has led to an increase in the time it is taking for homes to transfer title.
With the Spring Market now completed, the beginning of the third quarter is looking bright. There are already 27 homes in contract waiting to close, and this number already beats last year’s stats.
If you are interested in obtaining a more comprehensive market report, or a customized service proposal, let us know. Please call us at 914-723-5555.