🏡🏡The Real Estate Market for Harrison, NY Spring 2023!
Introduction:
In this blog post, we will delve into the current state of the real estate market in Harrison, NY. Based on data from April 2023, RealtorTom has provided valuable insights to help potential homebuyers and sellers gauge the market conditions accurately. By analyzing key metrics such as unit sales, median sale price, inventory, days on market, months of supply, and median sale price per square foot, we aim to provide a comprehensive overview of the Harrison real estate market.
Unit Sales:
In April 2023, there were 7 unit sales of single-family homes, condos, and co-ops in Harrison, NY. This number remained unchanged compared to the same period in the previous year, indicating a stable level of sales activity.
Median Sale Price:
The median sale price for properties in Harrison witnessed a significant increase, reaching $1,699,455 in April 2023. This represents a notable surge of 21.4% compared to the same month in 2022. The upward trend in median sale price suggests a strong demand for real estate in Harrison, indicating a favorable market for sellers.
Inventory:
The number of available properties for sale in Harrison experienced a substantial decline. In April 2023, there were 44 properties on the market, marking a significant decrease of 42.1% compared to April 2022. This decline in inventory indicates a decrease in the number of options for buyers, potentially leading to a more competitive market.
Days on Market:
The average number of days a property spent on the market decreased in April 2023. Properties in Harrison stayed on the market for an average of 66 days, indicating a decrease of 22.4% compared to the same period last year. This suggests that properties are selling more quickly, reflecting a strong demand and a favorable market for sellers.
Months of Supply:
The months of supply metric measures the theoretical number of months it would take to sell all the current inventory of homes at the current sales pace. In April 2023, the months of supply in Harrison stood at 3.47, indicating a decrease of 19.6% compared to April 2022. A lower months of supply value typically signifies a seller's market, where demand exceeds supply.
Median Sale Price per Square Foot:
The median sale price per square foot is a useful indicator for comparing property values. In April 2023, the median sale price per square foot in Harrison rose to $417, representing a substantial increase of 26.3% compared to the same period in the previous year. This rise suggests that properties are commanding higher prices, further emphasizing the strong market conditions for sellers.
Conclusion:
The real estate market in Harrison, NY, based on data from April 2023, exhibits several notable trends. The market is experiencing stable unit sales, with no change compared to the previous year. However, the median sale price has surged by 21.4%, indicating a robust demand for properties. Decreasing inventory, shorter days on market, and a decline in months of supply suggest a market favoring sellers. Additionally, the median sale price per square foot has seen a significant increase, further illustrating the positive market conditions for sellers.
If you are considering buying or selling a property in Harrison, NY, it is essential to take these market dynamics into account. Consulting with a reputable local real estate agent can provide you with tailored advice and expertise to navigate the current market conditions successfully.
No comments:
Post a Comment