CORTLANDT, N.Y. -- Coldwell Banker Residential Brokerage’s Barrie Scaglione is preparing for an active spring real estate season.
Scaglione, an associate real estate broker and branch manager of the Coldwell Banker Residential Brokerage office in Croton-on-Hudson, said real estate professionals who are affiliated with her office are working with homebuyers and sellers who are prepared to make a move following what has been a very challenging winter.
“March is going to tell us a lot,’’ Scaglione said. “I have no doubt, from what I’m hearing, that it’s going to be pretty solid over the next few months. But buyers and sellers need to be properly prepared by working with a qualified real estate professional who can guide them through the process.”
Sales of single-family homes and condominiums increased slightly by a percent in Northern Westchester County in 2014 compared to the prior year. In addition, the median selling price for a single-family home in the region only increased by 1 to 2 percent from 2013. While the slight increase in sales and prices is slow and steady, Scaglione said there are positive signs for the housing market.
“There’s a lot of pent-up demand,’’ Scaglione said. “We continue to see some encouraging signs. For example, mortgage rates are still low and the price of fuel has been low. Consumers are more optimistic about the economy and the unemployment rate is down. These are positive factors for the housing market.”
Scaglione said the low inventory of for-sale homes has resulted in slower sales activity over the last few weeks. The inventory has been almost flat the first three months of 2015. Inventory is down almost 2 percent compared to last year’s inventory.
“The supply of for-sale homes has been restricted, so if you’re thinking of selling, now is the ideal time to put your home on the market,” she said. “With fewer homes on the market, sellers will face less competition and their homes are more likely to draw interest and sell faster.”
However, Scaglione noted that the current climate has its advantages for buyers and sellers. Buyers have the advantage of low mortgage rates and benefit from more purchasing power. Sellers have a buyer pool that has fewer homes to choose from.
“If buyers don’t have a lot of homes to select from, there could be situations where multiple offers are presented for a single property. At the same, because interest rates are so low, buyers have the advantage of being able to afford more. It’s a win-win for buyers and sellers,” Scaglione said.
For more on buying and selling in Cortlandt, Croton and surrounding regions, contact Scaglione at 914-482-1087, 914-810-5300 or 914-271-8500. Her email is email@example.com. Her listings are also available on her website .