Update on the current Pawling Real Estate Market:
I have been doing these reports for quite a while now under the Prudential Serls name. At this time I am proud to announce that Prudential Serls Prime Properties has been invited to become one of the founding companies of the Berkshire Hathaway Home Services global real estate network. Effective February 4, 2014, the company has been operating under a new name, Berkshire Hathaway Home Services Hudson Valley Properties.
Our company is joining a brand owned and operated by the most respected company in the world, Berkshire Hathaway*, led by the most revered investor in modern history, Warren Buffet. The value proposition of our new company to the public is tremendous!
As the leader in the Hudson Valley marketplace for over 22 years, Prudential Serls Prime Properties has been committed to being at the forefront of real estate trends and client services, changing with the market to better serve the public’s needs. We are the same local company you have come to know and trust, now with an even greater regional and global marketing presence. Our office is in the same location in the Village next to CVS pharmacy and directly in front of Vinnie’s Deli. Look for the Cabernet Awnings on East Main Street.
Ok now that you have been brought up to speed on our company let’s review some information on the market. As you know this was one of the roughest winters we have had in long time. Lots of snow and cold temperatures. The horrible weather suppressed market activity and closings in February and March were lower than we had hoped. Due to the fact that snow was on the ground later than what we have seen in the past few years the spring market got off to a later start than normal. In speaking with agents from our office, activity has begun to pick up and phones are starting to ring. We are also getting busy putting new listings on our local Multiple Listing Services. I do think that home values are firming and continue to be on a very slow uptick in our area. Pricing is still a major factor on the sale ability of your home. Make sure your agent does a Comparative market analysis for your property and takes the time to explain how and why they arrived at the price they feel your home should be listed at.
Taxes here in Pawling have become a negative. I showed a home in the Village the other day that is 1539 sq feet in size and built on a slab foundation in 1950, the taxes are $10,723 with Star included!!! To me that’s just absurd, and my buyer felt the same way. Many agents in the office have acquired there Connecticut Licenses and buyers for Pawling are looking more and more into Connecticut properties due to the lower tax burden.
Here are some statistics from Westchester Putnam MLS regarding the number of homes currently on the market in Pawling in a given price range, and the number of solds in the last 6 months as of 4/24/14
$200,000 to $300,000 23 Active on the market and 13 Sold
$300,000 to $400,000 25 Active on the market and 6 Sold
$400,000 to $500,000 14 Active on the market and 1 Sold
$500,000 to $600,000 5 Active on the market and 0 Sold
$600,000 to $1,000,000 16 Active on the market and 2 Sold
Let’s hope that as temperatures warm up the local market will continue to do so as well.
That’s it for now and I hope all of you have an enjoyable spring season.