J. Philip's Westchester Real Estate Blog: New York: Peekskill

This is the market data for the second quarter of 2011 for single family homes in Peekskill, and all information is sourced from the Empire Access (formerly Westchester-Putnam) Multiple Listing Service.

In the 2nd quarter of 2011 there were 14 closings at a median price of $239,500. 

In the 2nd quarter of 2010, Peekskill had 16 closings at a median of $267,500. 

Prices continue to slide in Peekskill, and transaction totals are also down some. It is a good time to be a buyer, and investors know this- there are 11 homes under contract at a median asking price of only $160,000. The less expensive inventory is all that's moving. 

There are  73 active listings with a $290,000 median list price. That is over 18 months of available inventory at incredible prices compared to the bulk of Westchester County. 

I'll repeat: Now is the time to buy in in this beautiful, historic town on the banks of the Hudson. Peekskill also has a plethora of condomiums as well, and I may post a market update on that sector also. 

Get yourself a free Listingbook account and check out homes for sale in Peekskill. 

Previous posts about Peekskill are here.  

About three weeks ago I wrote a rather forgettable blog post about what $335,000 will buy you in Peekskill, New York. I really like to post these sorts of pieces because they are informative and sneakily self promotional (and I kind of lack any shame about promoting myself), but I have to admit that they aren't exactly cutting edge commentary. 

Not long after the post went live I got a call from a reporter working on a story on Westchester real estate, and I put her in touch with my clients to help with the story. The report was published in today's New York Post, and my clients were front and center with two photos and a healthy-sized quote. 

I love that. This has to be the 6th or 7th time I've gotten a client into the media, and I have to say that it I something I relish. Not everyone wants to discuss their home purchase with a reporter, but my clients saw the big picture (they started the local dog park, after all) and the opportunity to sell their community. They capitalized. 

I was quoted at the end of the piece also, and a reference was also made to my blog, which I believe was how the reporter found me to begin with. It is a nice feeling to know my efforts can occasionally yield these kind of results. I remain very bullish on Peekskill, by the way. Lots of great housing in this wonderful community on the banks of the Hudson. 

What can you buy in Peekskill for $335,000? It will buy you a pretty arts and crafts colonial with a rocking chair porch, 2 car garage, updated kitchen, and beautiful woodwork like the one our clients just closed on last week. This home has 4 bedrooms, a formal dining room, a woodburning fireplace, lovely landscaping, stained glass windows, a patio, walkup attic, and a dry, full basement. The location is also fantastic, just a 3 minute drive to the Peekskill train station. 

I love homes from the 1920's especially when the restoration job allows the original character to remain intact. 

We wish our clients many happy healthy years in their new home! 

This is the market data for September of 2010 for single family homes in Peekskill, and all information is sourced from the Empire access (formerly Westchester-Putnam) MLS.

To say that I am bullish on Peekskill is an understatement. 

Now, the good news. There are FIFTEEN homes under contract in Peekskill now, and I have one of them. It is simply too nice a place for people not to take advantage of the affordability. I said this in September:

when the buyers wake up to what they can get at these low prices, you'll see a spike. All markets are cyclical, and I think we are witnessing the calm before a storm of activity. 

Expect a powerful finish to 2010 and strong first quarter for 2011 in this wonderful Hudson River town. 

Get yourself a free Listingbook account and check out homes for sale in Peekskill. It is absolutely a buyer's market here.

Previous posts about Peekskill are here.  

This is the market data for September of 2010 for single family homes in Peekskill, and all information is sourced from the Westchester-Putnam MLS.

There was nowhere to go but up after a very poor August, and we may be looking at a "new normal" for this charming little city on the Hudson. The median price is up from last month but down over $160,000 from September of 2009. Transactions totals are higher, which is a good thing, but the volume of available properties- 81- means there is almost 2 years worth of inventory available, which will suppress prices. 

With 8 pending sales last month, and 4 pending sales this month after the 4 September closings, nothing new has gone into contract in the last month. When your median sales price is less than $200,000 and the median asking price is $279,000, it doesn't take a genius to figure out that the buying public is still waiting for prices to decrease. I am working on a deal that will add a sale to the hopper and greatly increase the median price, and that is because I have clients who know and love the area. They have good reason- Peekskill is a great place to live and work, and when the buyers wake up to what they can get at these low prices, you'll see a spike. All markets are cyclical, and I think we are witnessing the calm before a storm of activity. 

Get yourself a free Listingbook account and check out homes for sale in Peekskill. It is absolutely a buyer's market here.

Previous posts about Peekskill are here.  

I have blogged about the Peekskill Dog Park before. It just happens to be the creation of clients of mine. The story is that they got the city to dedicate underused parkland to an attraction that gets dozens of users a week. 

In 12 days, the park will have its 2nd annual fundraiser, the Peekskill Dog Splash. It will actually take place at the lake at Depew Park, and all dogs will have a chance to splash around and swim and have a good time. There will be a complimentary dog wash station, so your wet dog will go home smelling fresh and clean, which, frankly, you know you could use about now. Admit it.

If your dog is a little breed, there will be kiddie pools. There will also be music, giveaways, and you'll meet plenty of other dog aficionados and dog-o-philes who walk on their hind legs. 

Pre registration is required, so go to PeekskillDogPark.com and get your pooch in. Registration is $10, which is almost free in dog dollars. We are still enjoying nice weather in this area, and I'd expect late September to be a bit of a last hurrah for some of us in the "getting out and doing something special with our dog" department. They give us unconditional love, and they earned a play date. 

This is the market data for August of 2010 for single family homes in Peekskill, and all information is sourced from the Westchester-Putnam MLS.

OK- here goes:

Prices are way down. Only 1 home sold, so all statistics are at the mercy of a number too small to be considered a representative sample. Median price last month was $65,000 and August of last year was $289,500. There are 77 homes actively for sale- the balance is out of whack, with only 7 homes under contract at a median price of $247,500.

So sales are way down and pending sales are low. Here's the deal: Peekskill is a nice place- low taxes, affordable homes, a vibrant downtown, and proximity to Manhattan, points upstate, and all the amenities of Westchester County. You could buy a pretty nice joint here for not much money. The law of supply and demand is immutable- someone is going to get some good deals, and that someone should be you. 

Yeah, you. Or someone you know. 

Get yourself a free Listingbook account and check out homes for sale in Peekskill. It is absolutely a buyer's market here.

Previous posts about Peekskill are here.  

Peekskill is one of the older River towns in Westchester County. I have blogged about Peekskill before, and I have done quite a bit of business there. It is by far the northernmost city in Westchester county, and in addition to being affordable, the quality of life there seems to improve by the week. This is the market data for July of 2010 for single family homes in Peekskill, and all information is sourced from the Westchester-Putnam MLS.

Prices are way down. Median price last month was $305,000 and July of last year was $310,000, but this July it was $184,500. There were only 4 transaction with 75 homes actively for sale.

Now is a god time to buy real estate in Peekskill. Get yourself a free Listingbook account and check out homes for sale in Peekskill. It is absolutely a buyer's market here. 

This is the market activity for Peekskill in June of 2010. All information is sourced from the Westchester-Putnam MLS. I have blogged about Peekskill extensively before. 

Unlike the May of 2009 and 2010 comparison, prices and transaction totals are up, from a median price in June of 2009 of $237,500 to a more robust $304,750 in June 2010. There were 8 transaction in June this year, up from only 6 last June, and 9 homes are currently under contract. 64 homes are actively for sale.

64 active listings is about 8-10 months worth of inventory, not an outrageous amount but certainly plenty to choose from. Prices, while up, are at their lowest here since 2003. If you like the river towns and fancy pre war architecture, you'll like Peekskill. Now is a god time to buy real estate in Peekskill. Get yourself a free Listingbook account and check out homes for sale in Peekskill.