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Sales increased 12 percent over the same time period from last year, according to the second quarter report from Houlihan Lawrence. The median sale price for a single family home rose 2 percent.
“The trends we have been seeing quite some time are continuing,’’ said Roberto Vannucchi, Executive Vice President for Douglas Elliman. “The numbers are very stable. Low inventory and a lack of quality inventory continues to drive our market. Six or 12 months ago we were seeing the same thing, and I think it’s going to continue throughout the year.”
Activity was particularly brisk in Putnam Valley, where 35 homes exchanged hands in the second quarter. That represents an 85 percent increased compared to the second quarter in 2014.
In Mahopac, sales climbed 15 percent and Carmel sales rose 9 percent. For the region, there were 188 home sales compared to 168 in the second quarter last year.
Prices also climbed. Mahopac saw a 13 percent increase over the second quarter in 2014, to $343,000. Prices dropped in Lakeland (10 percent) and Garrison (5 percent) but rose in all of the other communities in the Houlihan Lawrence report (Brewster, Carmel, Haldane and Putnam Valley).
“The numbers were strong,’’ said Joe Rand, Managing Partner for Better Homes & Gardens Rand Realty. “You have to be careful with Putnam because it’s such a small geographic area. You don’t want to read too much into one quarter. But it’s definitely moving in the right direction.”
Sales of Putnam County condos also moved in the right direction. Sales rose 22 percent, and the median sale price rose 5.3 percent to $240,000. The median sale price for a Putnam County condo is at its highest figure since 2008 and $39,000 more than just two years ago.
Declining unemployment, historically low interest rates and the advance of millennials into the real estate marketplace have kept activity robust.
Realtors always believe now is the best time to buy. Rand goes even further this year.
“My personal view is it’s about as good a situation you’ll get in the next 10 years,’’ said Rand, who purchased his first home this year after years of living in a condominium. “It doesn’t make sense to wait.”
Click on the links for Market Reports for Douglas Elliman and Houlihan Lawrence.
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