The Sky is NOT Falling: Condominium and Cooperative Sales in White Plains, NY:
By Ruthmarie Hicks
(Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605)
The recent stats released for Westchester County, NY show that for those who are fence-sitting in anticipation of major price adjustment – will probably have a long wait or become permanent renters. This was particularly true of the condo/cooperative market which is the major entry point for most first-time buyers. County-wide single family median home sales prices were up 1.9%, condominiums up 3.2% and cooperatives down 1.8% over the 3rd quarter of 2006. The only “bargains to be had were in multifamily residences where median prices went down 0.3%. The volume of sales was also up for single family homes (3.9% ) and condos (1.4%) but down slightly for cooperatives (-2.7%). The dark spot in the market was multi-family homes where volume was down significantly (-32.6%). I decided t...