David Buck-The Real Estate Analyst, Houlihan Lawrence Katonah Office

Happy New Year and Best for 2021. our report provides a look back at our New York #NorthofNYC residential real estate markets in 2020. While the pandemic changed our way of life in many ways, it reinforced the importance of home and having enough space for living and often for working. Read-on for County-Wide data and please reach out at [email protected] with specific questions about markets around Katonah, Somers, North Salem etc. In 2020, the real estate market in #Westchester, #Putnam, and #Dutchess Counties experienced a surge in sales. Low inventory numbers indicate that demand remains strong. It is anticipated that the market during the first half of 2021 will continue to be robust. Learn more here: http://hlre.co/35cdrVQ.

#NorthofNYC #KatonahRealEstate #SomersRealEstate #2Q2020MarketReport With the COVID-19 pandemic and massive (hopefully temporary)unemployment caused by shut-downs, our markets showed resilience as median sale price grew in Westchester and Dutchess while falling in Putnam. Some positive macro boosts to market: 1-Employment rebounded for June 2020 +4.8M jobs, 2-Low interest rates helping housing affordability and 3-Stocks rebounded with a 2Q 2020 S&P 500 gain of 20% gain erasing nearly all YTD losses.

#HLKatonah #RealEstateTrend #DavidBuckRealEstateAnalyst #LocalUpdate Sharing selected school districts from our service area. Despite pandemic impact Median Sold Price YTD through 6/30/20 GAINS in Somers and North Salem with MODERATE DROP for Katonah-Lewisboro. Units sold increased in three selected markets in June as seller and buyer clients adjust to new operating environment after COVID-19. Impact of sharp Y/Y listing drop being worked through with strength seen in May. Contact me with specific questions or to receive 2Q 2020 Houlihan Lawrence quarterly report out shortly. I am available for your real estate needs, reach me at [email protected] or (914) 299-1674.

#Reopening #KatonahRealEstate #SomersRealEstate Please reach out with your real estate questions at [email protected] or (914) 299-1674. As our communities reopen, @HoulihanLawrence is too. We will continue to meet any challenges that lie ahead with courage, humanity and compassion. We have virtual tools to work initially without in-person contact including virtual paperwork and video meetings. We also have procedures with safety in mind including PPE and social distancing to allow in-person showings and meetings.

#RealEstate #Economy #Jobs SOMETHING POSITIVE to highlight!May Jobs report from Bureau of Labor Statistics (BLS) is a large POSITIVE upside. Conclusion-May was viewed as a possible bottom for US employment with a dramatic drop in jobs month-month expected (down 8.3M estimate. The sharp fall did NOT occur as May jobs rose month-month. -May non-farm payroll (jobs) rose 2.5M month-month versus a consensus 8.3M drop. -Unemployment rate fell month-month to 13.3% down 1.4 points ...versus consensus of ~20%. -Update for May 2020 shows 21M unemployed persons down 2.1M. -Reminder that March 2020 unemployment rate prior to COVID-19 pandemic-related shutdown was just 3.6%. -Recovery from artificially-depressed levels of employment as re-openings occur state-state combined with near record-low mortgage rates should bode well for real estate activity. See more

#REALESTATE #EXISTINGHOMESALES #NAR Existing homes data (National) plummet 17.8% for April to seasonally-adjusted level of 4.33M while prices rise. -I am available to talk about local-market data for Northern Westchester and Putnam county and I am available virtually to help you with your real estate needs, you can reach out via Messenger or via email at [email protected] -Some analysis of National Association of Realtor’s (NAR) release today of April 2020 data whi...ch importantly reflect a full month of COVID-19 lockdowns which were national in scope. -First, headline data is weakest since 2010 and YOY sales dropped by 17.2%. -Single-family homes data was slightly better reflecting weakness in condo and coop sales with single-family homes dropping 16.9% month-month in April and by 15.5% from one year ago. -Northeast region showed a 16.9% drop month-month for April and an 18.2% decline YOY. -Lower inventory helped the (National) median price for an existing single-family home jump 7.3% YOY for April to $288,700. -Northeast median price for an existing home was $312,500 up 8.7% YOY. -NAR Chief Economist Lawrence Yun highlighted There appears to be a shift in preference for single-family homes over condominium dwellings, and This trend could be long-lasting as remote work and larger housing needs will become widely prevalent even after we emerge from this pandemic. -Why wait to list? While caution is understandable, there are ways to list your house to use virtual tools including virtual open houses and practice social distancing and sanitizing to limit risk. -Why wait to buy? Per Freddie Mac data, the April commitment rate on a 30-year fixed mortgage was 3.31% down from 3.45% and a 2019 average rate of 3.94%. While some lenders have tightened credit scores, I can refer you to resources to get pre-qualified before beginning a home search. See more