County Market Watch study notes sale price increases.

The fourth issue of the Julia B. Fee Market Watch, an extensive study of the housing market in Westchester county, illustrates that sales prices throughout the county continued to appreciate during early 2004, proving strength and stability within the market. Rye Neck,- Ardsley and Mamaroneck showed the largest increases in median sales price per school district over the past six months.

Out of the 26 school districts listed within the report, 23 showed an increase in median units sold over the past six months, while 16 out of 26 showed an increase in median units listed. The report also illustrates that 18 of the districts listed experienced an increase in average days on the market, while eight of the markets saw a decrease of the average days on the market.

"Over the past six months, we've seen a continuation of price appreciation on property throughout the majority of Westchester county's school districts," said George M. Stone, managing principal of Julia B. Fee Real Estate. "This median price increase has also been accompanied by a logical decrease of inventory in properly listings,"

According to the Market Watch, Rye Neck experienced the largest increase in median home sale price during the first six months of 2004--to $901,500 from $670,000 during the same period in 2003--showing an astonishing increase of over $231,500. Another strong indicator of the vitality of the market within the Rye Neck school district was the increase in the amount of homes listed. The amount of recorded homes listed for sale during the same period in 2003 nearly doubled in 2004, going from 57 to 102.

Another market that experienced strong growth was Ardsley, showing a median home sale price of $702,500, which was up by more than $173,500 over the same six-month period in 2003.

Mamaroneck showed more than a $145,000 increase of median home sale price during the same time period, going to $913,750 from $768,500 in 2003. The Bedford school district saw median home sale prices rise by $120,000 going to $890,000 from $770,000, indicating overall continued vitality and strength, county wide.

This edition of the Market Watch is a semi-annual compilation of the current state of residential sales in the majority of the submarkets within Westchester county. The information provided draws upon data collected by the Westchester Multiple Listings Service, which has been compiled by market experts at Julia B. Fee Real Estate. The Julia B. Fee Market Watch is the only statistical report that breaks down the market by school districts and allows the community to view data in such a specialized market as Westchester county. The firm distributes this information to home owners in the area and prospective home buyers in order to present market data that is specific to each neighborhood rather than the usual regional or national macro trend reports that are readily available.