Westchester getting cheaper
October 30, 2008 12:19PM
Sellers in both Westchester and Rockland counties are reducing their home prices by 5 to 25 percent, brokers say. Greg Rand, a managing partner at Prudential Rand Realty, said a home in Westchester that listed for $800,000 a year ago could sell today for $675,000. Westchester brokers say the market will have bottomed out when prices return to 2004 levels, which, for a typical single-family Westchester home, was $685,000. In the third quarter of this year, by contrast, the median sales price was $710,000.
[Post]
The Real Deal reserves the right to delete any comment it finds to be rude, obscene, racist, sexist, bigoted, irrelevant or repetitive, as well as inappropriate comments about anyone's personal appearance. The Real Deal does not endorse any comments posted on its Web site nor does it verify the veracity of comments or the identity of posters.
Comments
Anonymous
2004? As if lending practices were not shoddy in 2004. Prices will retract to 2001/2002 levels. The brokers wish to keep his undeserved commissions afloat.
Comment #1 Posted By: Anonymous 10/31/08