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Inventory rise cools off hot home market: medians climb, but slower than before; bubble downplayed.

Publication: Westchester County Business Journal
Publication Date: 12-SEP-05 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Westchester's residential real estate market will continue to stay hot this year, but not as hot as the past few years, as a growing inventory of available traits dampens the pace of prices hikes, say.

One indication of the residential market's continued strength this year emerged in the sixth issue of Julia B. Fee Real Estate's semi-annual MarketWatch, set to be released today (Sept. 12). The study used data from the Westchester-Putnam Multiple Listing Service Inc. to conclude that the median prices of homes in 26 of the county's most affluent school districts rose 13 percent during the first haft of this year.

The number of homes sold stayed almost flat during the period, dropping one-half of a percentage point, according to MarketWatch.

"The market remains healthy and we're seeing it in the prices," said George M. Stone, managing principal of Julia B. Fee.

Stone cited the number of...

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