I have put together some data on the monthly housing sales that have occurred in Pelham, New Rochelle, Larchmont, and Mamaroneck since January 1 to May 31. The data is based on sold properties (real property) . The data is going to cover 3 the property types- Single Family Houses (SFH), Condos, and Co-ops. I have also posted the absorption rates for single family homes during the month of May in all the communities. The absorption rate is the time it takes a house on average to be absorbed into the market (usually sold) with in a predetermined time frame. For the purposed of this blog, I used 1 month (May) Please take a look at any or all of the communities you are interested in.
Absorption Rate: For single family homes in New Rochelle is 3.55 means the market is balanced. There have been 20 homes sold in New Rochelle during the month of May and there are 77 homes that are currently active. The math is 77/20= 3.55 months.
Absorption Rate: The absorption Rate for Pelham is 1.5 months. there are currently 23 active listings and 15 listing have sold within the month of May. This is a very active sellers market. The math is 23/15= 1.53 months sellers market.
Absorption Rate: The Absorption rate for Mamaroneck is 3 months and that means a balanced market. During the month of May there were 27 active listings and 9 sold listings. The math 27/9 = 3 months. Please forward this article to anyone who you feel would be interested in seeing this data. If you would like me to do a comparative market analysis (CMA) on your particular house I can do that for free and there is always no obligation.