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Sales swelled 29 percent in the quarter with increases in nearly every community. The median sales price fell, however, 13 percent.
“I think Putnam County did pretty good,’’ said Dottie Herman, CEO of Douglas Elliman. “They’re on the way up.”
Sales jumped dramatically in Putnam Valley, where 29 homes changed hands. Last year, just 12 homes were sold in the first quarter in that community. The increase represents a 142 percent improvement.
Sales also were way up (275 percent) in the Lakeland School District. Brewster (27 percent) and Carmel (18 percent) also saw big gains. Mahopac declined by 6 percent. Haldane (11 percent) and Garrison (14) also saw declines.
The median sales price fell in most of the communities. Garrison (58 percent) showed a big drop. Lakeland (19 percent), Brewster (18 percent) and Haldane (13 percent) saw double-digit dips.
Condos also did well in Putnam in the first quarter. Sales increased by 47 percent, and the median sales price rose 12.8 percent.
Herman believes milennials -- the population in the 19-34 age range -- are beginning to emerge as homeowners. They are finding properties and value and Putnam.
“They are late to buy housing,’’ Herman said. “Many of them had college loans to pay off and then it was hard to get financing, even though the rates were pretty low. Now, we’ll see more of them come into the market, and they’ll be looking for properties with value.”
Click here for the first quarter report from Douglas Elliman.
Click here for the first quarter report from Houlihan Lawrence.
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