J. Philip's Westchester Real Estate Blog: New York: Croton on Hudson

One of the risks a real estate broker like myself incurs when commenting on the market is the perception that we as licensees puff things up to make the climate seem better than it really is. Given that we are entitled to our own opinion but not our own facts, I'll lead with the numbers on Croton's 3rd quarter real estate market.  

For the 3rd quarter of 2010, the Croton-Harmon school district had 15 single family home closings at a median sale price of $425,000.

For the 3rd quarter of 2011 which just ended September 30th, Croton had 18 single family home closings at a median sale price of $492,500.

Transaction totals are up, and median sale price has improved by almost 16%. It is an improvement. However, before we all jump for joy, consider that in the 3rd quarter of 2005, Croton had 36 sales with a median price of $600,000. We are a long way from recovered. We can take some measure of encouragement that we are headed in the right direction. This is especially the case when you consider that the housing stimulus closing deadline was over at the end of September 2010.

Looking ahead, Croton has 13 homes under contract or pending sale at a median asking price of $375,000. 54 homes remain active and for sale at a median asking price of $587,450. What this says to me is that the higher cost properties are not selling at the rate that less expensive homes are. While this does not mean that everyone should necessarily lower their price, we should note that the average days on market statistic for the homes currently for sale is 164 days, or 5 1/2 months. 5 months is a long time, especially when you consider that some of these homes are not on the market with their first listing contract.

All real estate is local, and while we are fortunate in Westchester to be relatively insulated from the catastrophic declines in the sunbelt and mid west, we are still a price sensitive market with low consumer confidence. Therefore, some homes will have to reduce their price in order to sell in the next 90 days in Croton. Failing that, inventory will bloat this coming spring and oversupply could supress prices again.

To find a home in Croton, register for a free Listingbook account. 

Previous posts on Croton. 

I have stopped doing monthly market reports in favor of quarterly version in the hope of smoothing out the data and minimizing anomalies. Even so, the results of this quarter's data for Croton-Harmon schools are impressive. All data is taken from the Empire Access Multiple Listing Service. 

In the 2nd quarter of 2010, 17 single family homes sold at a median price of $486,500. 

In the 2nd quarter of 2011, 14 single family homes sold at a median price of $592,500, over $100,000 more than the same time period last year. 

They are down three sales, but that is a massive jump and can't be attributed to just one strange month. That is for three whole months. That speaks to the fact that Croton is attracting higher priced buyers seeking more expensive homes than years past. Upscale housing is more common now than it was before, as newer subdivisions attest.  Activity there raises the median price.   

16 homes are under contract with a buyer at a median asking price of $479,450, so prices appear to be coming back in line with history, and that punctuates the strong quarter the area just enjoyed. 

59 homes are on the market at a median asking price of $529,900, or about a year's worth of inventory. If you'd like to search Croton's available homes for sale like an agent, get yourself a free Listingbook Account.

Previous posts on Croton on Hudson. 

This is the market report for single family homes sold in the Croton-Harmon school district for the first quarter of 2011. All information is sourced fom the Empire Access Multiple Listing Service. 

In the first quarter of 2011, there were 15 closings with a median sale price of $540,000. 

In the first quarter of 2010, there were 11 closings with a median sale price of $542,000. 

4 additional closings at about the exact same median is a step forward over last year. Median price is only $2000 different-negligible. Croton is enjoying what appears to be a robust Spring. 

9 homes are currently under contract at a median asking price of $550,000. This tells me that the activity is not letting up- buyers are making deals. 52 homes are active on the market and available, so buyers don't have the huge inventory to choose from as other places. 

If you'd like to search for a home in Croton or just see where home values are going, get yourself a free Listingbook account and search the MLS like an agent. 

Previous posts on Croton are here. 

This market report is for single family homes in the Croton-Harmon school district. All data is from the Empire Access (formerly Westchester-Putnam) MLS. Contract and asking prices are list prices, as contractual prices are not disclosed until closing. 

Croton had 5 closings in October at a median price of $400,000, considerably lower than the $679,000 median of a year ago. I wouldn't read too much into this, as the month just had lower prices homes close this time around. Last month the median price of homes under contract was $420,000, so a lower median sales price this month is no surprise. Expect a far higher median price in November. The median asking price of the 12 homes under contract is a very robust $679,000. 60 homes are available for sale.  

To find your dream home in Croton, get yourself a free Listingbook account. 

Previous posts on Croton on Hudson

Since I have Croton on the mind, I'll share a recent "date night" Ann and I had recently.

Hey. Get your mind out of the gutter. That's my job.

We went to Memphis Mae's, a terrific Barbecue Restaurant right in the heart of the village with fantastic ribs, wings, pulled pork, Cajun food, and plenty more. 

The decor is very nice: tin ceiling, nice, clean bar (no TV. This is not a pub, and they don't push for a bar crowd. They are about the food), and Mardis Gras beads adorn the fixtures. 

You can get anything from a snack of wings all the way up to a nice steak dinner with all the side dishes you can think of. They have all the things you might expect, like chili, catfish and brisket, but they are creative as well: we had barbecue calamari and fried oysters. As a matter of fact, the choices and combinations were mind boggling. Click on the link and check out their menu. Or, you can check out the menu here, as modeled by the lovely (and shy) former Ms. Lee. 

The prices were very reasonable as well. 

Memphis Mae's is located at Croton Commons, 173 South Riverside Ave, Croton on Hudson, NY 10520. They can be reached at 914-271-0125. 

Westchester residents have long known the strategic role our county plays in the New York City water supply. Our network or reservoirs, dams and aqueducts provide the lion's share of water to the largest city in the country, but they also give us some fantastic parks and pieces of scenery. Today I had the opportunity to drive through Cortlandt Manor and Croton on Hudson, and the reservoir views with autumn here were breathtaking.

Croton Gorge Park is the site of the Croton Dam, which along with Kensico Dam helped create the whole reservoir system. The park is open from 8am to dusk, has plenty of parking and greenery, and the view of the gorge waterfall is awe inspiring. We brought the kids today and they absolutely loved it. I saved it to the GPS favorites so Ann can bring them back whenever she wants. It is 10 minutes from our home and worth a drive far longer. If you are ever near Croton or north Westchester, this is for the bucket list. 

Croton Gorge Park is just off Route 129, north of the village of Croton on Hudson. It is about 5 minutes from Route 9A. 

Croton on Hudson is the village directly north of Ossining. It is a very charming locale on the Hudson with parks, great neighborhoods, and a large train station hub on the Metro North Hudson Line. My older brother and his family also live there. I used to camp at Croton Point Park as a Boy Scout, and I have many happy memories of the place. In the near future I'll blog about some great places to dine in Croton.  

This market report is for single family homes in the Croton-Harmon school district. All data is from the Westchester-Putnam MLS. Last month stunk. This month was much better. 

Croton had 8 closings in September at a median price of $459,000, doubling the number of sales from a year before, and at a $84,000 higher median price. Very strong. 13 homes are under contract, and 65 are available for sale. The disparity between asking price of the contracted homes ($420,000) and those available ($598,000) speaks to some lofty expectations of the unsold. If asking prices come down some, watch for even healthier numbers. 

To find your dream home in Croton, get yourself a free Listingbook account. 

Previous posts on Croton on Hudson

Previous posts on Croton on Hudson

All information is from the Westchester Putnam Multiple Listing Service. 

Previous posts on Croton on Hudson.