New York Towns Report Continuing Brisk Sales
by Blanche Evans
From Amherst, White Plains, and Rosendale, New York, Realtors suggest that job growth and location are reasons their towns are booming. Amherst "Welcome to Amherst, NY where you'll get the charm of a small town combined with a thriving metropolitan area," says Realtor Lisa Crist. "Browse for unique foods, distinctive fashions, original art, home accessories, or special antiques. Relax at a restaurant or tavern; the atmosphere may be casual and lively, or quietly gracious, but the menu is always tempting. Visitor accommodations include inns, bed-and-breakfasts and motels. Seventy percent of the job growth in Western New York, in the past ten years, was in Amherst. Research indicates at least 125 companies in Amherst plan facility and/or employment expansions within the next two years. If implemented, expansions translate into approximately 684,000 square feet of new space, creating an estimated 2791 positions." "Amherst is a 45-minute commute north of New York City bordering the Hudson River," says Crist, "off the Taconic State Pkwy and Route 9A. The Scarborough Train Station is north of Tarrytown, and south of Ossining. Briarcliff Manor is a prestigious small community with mostly single family homes, but there are some lovely condominiums and cooperatives as well. It is known for its excellent school system, beautiful scenery and rolling hills close to the Hudson; as well as it's 45 minute commute to Manhattan. Homes range from the high $100's for co-ops, high $300's for condos, $400's for townhouses, and $500's to multi-millions for single-family homes. Houses with Briarcliff Manor schools frequently have multiple offers and sell at, and above, the listing price. The population is under 10,000 and inventory is tight." White Plains Says Realtor Carolyn Schoemer, "White Plains is a great location, right in the center of the county with a population of 50,000. During the day there is a huge commuting population into the city which has many corporate headquarters, large train and bus stations, and many shopping malls." Schoemer explains, "White Plains offers all different types of housing ranging from small homes in the $300's to homes over a million, mostly in the southern section where the properties are larger. There are many condos, co-ops and rentals available, as well, in all price ranges. It offers convenience and an easy 35-minute commute to NYC (express stop). White Plains is known for its shopping and its low taxes. It is also known for all the corporations and businesses who make their home in White Plains, so the daytime population is significantly higher that the resident population of approximately 50,000. There is much construction going on in the downtown area with the new City Center, apartment buildings, retail stores and condominiums; the city is booming." Rosendale "According to data available through the Ulster County Multiple Listing Service, Inc., which should represent a subset of total market activity in the county, the number of closings (sales) of single family residences for March, 2005 was 91, down slightly from 93 in February, 2005 as well as March, 2004 which had 95," explains Realtor Jon Hoyt. "The median sales price in March was $238,000, down from $255,900 in February, 2005, but substantially up from March, 2004's median price of $183,000." "The declining numbers of sales, together with an increase in the number of listings and "days on market" -- the time required to sell a home -- may signal a moderation of the market, a trend which should continue for a few months before leveling," he advises. "Any increase in interest rates, perhaps coupled with increased costs in areas such as gasoline, could have an impact on affordability. Since most buyers buy at the upper limit of their affordability range, even a small increase in interest rates may have a significant effect. Unfortunately, sellers appear oblivious to this type of forecast and are pricing homes well above the market. Currently, there are 811 residences on the market at a median asking price of $324,900, significantly above the median sales price. While these sellers are welcome to test the market in their effort to attain the highest possible sales price, reluctance to timely adjust pricing may ultimately result in a lower sales price than would have been if the property been properly priced." |
