IRVINGTON MARKET UPDATE JAN/FEB 2018

IRVINGTON MARKET UPDATE JAN/FEB 2018

 Here is a quick update on how the real estate market in Irvington is doing so far in 2018. I put together data from January 1st through Feb 15th, sort of a "mid-quarter" summary. Here are the highlights:
​

• Average list price (LP) in Irvington was $134,991, up from $105,773 of Jan 2017. 
• Average home values in Irvington have increased by as much as 15%.  
• Average days on the market (DOM) went down from 118 to 112.
• Last month there were 8 homes sold and 127 active listings.
• In January 2017 there were 15 homes sold and 170 active listings. 
• Lowest Single Family Home Sale: 87 Delmar Pl, $46,500
• Highest Singe Family Home Sale: 73 Webster St, $224,900

    
The year-over-year data shows continued growth in the real estate market in Irvington. Inventory remains low, as we see 57 fewer homes on the market today compared with 1 year ago. I expect that trend to continue as many homeowners are still waiting for their home values to rise above "Pre -08' crash" levels before putting their homes on the market. 

    Irvington continues to develop and expand. There is significant investor activity, with many "house-flippers" buying property to renovate and resell. Each time one of these renovated homes is sold, the market pushes up a little bit higher. Last year, the highest sale price for a single family home was $205,000. This year, a home has already sold for $225,000!!

    Well, that's all I have for now. but If you have any questions, please let me know!

​                                          -Silvio