Providing a comprehensive picture of the Connecticut (or, Westchester County) residential real estate market, our Quarterly Market Watch Reports offer an extremely valuable resource for consumers, real estate professionals, financial institutions, the media and other professionals associated with the market.
Each report includes in-depth analysis of home sales activity and prices, outlining current conditions, historical trends and emerging directions that point to where the market is headed.
2014 was the year we secured the robust gains of 2013, positioning us for strong future growth. Our metro New York markets concluded the year with unit sales very close to 2013’s vibrant levels, making it the second best year for home sales in the past seven. All indicators point to 2015 being an excellent year of continued forward movement.
For both the quarter and the year we are seeing transaction volume very similar to 2013 levels and far ahead of 2012 and 2011. The market is stable and the fundamentals are in place to end the year approximately even with 2013 on a unit basis and slightly higher on a dollar basis due to the strengthening upper end. Holding onto the gains of last year and building a firm foundation to grow both unit and dollar volume in 2015 is our goal for the remainder of the year.
After experiencing significant improvement for the past two years, the housing market has at last leveled off with unit and dollar sales year to date on track with the same period last year in most markets. We believe that the current period of more moderated yet sustainable growth is a healthy one, and we are optimistic that our housing markets will remain vibrant throughout the rest of the year. Please read the Second Quarter 2014 Market Watch for our full report.