Jamesvitalerealtor

Jamesvitalerealtor Superior service real estate broker focused on Westchester County and the NYC Metro area.

From first-time buyers to empty nesters looking to downsize, our team can help with Results that MOVE You. ;o)

Happy Wednesday!Here's a very brief update for today:Contracts Pending increased 19.5% week over week and went back to o...
03/30/2022

Happy Wednesday!

Here's a very brief update for today:

Contracts Pending increased 19.5% week over week and went back to outpacing # New Properties [which remained flat] reversing a seven week trend of rising inventory levels.

Contracts Pending (3/20 - 3/26):
Condos = 36
Single Family Homes = 153
[Single Family Homes $1M+ = 59]

Questions?
Comments?
Concerns?

Let me know if there's anything I can help you with.

Make it a fun day,
James

Now that spring has officially sprung, I'm hoping the weather will begin to reflect that sooner rather than later... Las...
03/23/2022

Now that spring has officially sprung, I'm hoping the weather will begin to reflect that sooner rather than later...

Last week had a slight decline in overall activity. Yet, here's what's interesting when taking a deeper look at the numbers:

Approximately 80% of all properties going under contract this week were on the market for less than 30 days. An indication that there's still a large amount of pent up demand that has yet to work itself out.

At the risk of sounding like a broken record, we're expecting competition for that new perfect home to remain fierce over the short term. Even as inventory levels and mortgage rates rise.

Contracts Pending (3/13 - 3/19):
Condos = 37
Single Family Homes = 128
[Single Family Homes $1M+ = 59]

If you're looking to take advantage of the opportunity to get a great price selling a property or have concerns about paying too high a price buying a new home...

Feel free to contact me to discuss your options and have all your questions answered.

Make it a fun day,
James

Last week's cold front had zero cooling effect on the housing market:There was a hefty increase in contract pending acti...
03/16/2022

Last week's cold front had zero cooling effect on the housing market:

There was a hefty increase in contract pending activity week over week (especially for properties priced between $1-$2 Mil), coupled with another week marked by a healthy amount of new homes hitting the market.

The spring market is now in full swing, so if you’re considering buying a new home, you'll need to be fully prepared and will absolutely need to act fast when the right home presents itself...

Contracts Pending (3/6 - 3/12):
Condos = 46
Single Family Homes = 154
[Single Family Homes $1M+ = 51]

Let me know if there's anything I can help you with.

Make it a fun day,
James

Snap, crackle and POP...This week finally had a healthy increase in homes hitting the market. Meanwhile, contracts pendi...
03/09/2022

Snap, crackle and POP...

This week finally had a healthy increase in homes hitting the market.

Meanwhile, contracts pending essentially remained flat leading to the increase in total # of homes for sale.

Overall, activity levels are down from the same time period last year which is most likely a result of indecision (by both buyers & sellers) based on all the craziness that's going on throughout the world these days.

Contracts Pending (2/27 - 3/5):
Condos = 26
Single Family Homes = 117
[Single Family Homes $1M+ = 40]

As always:

If there's anything I can help you with, just let me know.

Make it a fun day,
James

03/02/2022

Does three times really make a charm?

The total # of homes for sale has been rising slightly each week for the past three weeks now. A trend (if it continues) that will be a good thing for both buyers and those sellers who are looking to relocate locally.

While a rise in inventory levels may good for everyone as far as providing more options, that won't necessarily mean it will have any effect on alleviating demand. So competition for that perfect new home will most likely remain fierce.

Contracts Pending (2/20 - 2/26):
Condos = 25
Single Family Homes = 121
[Single Family Homes $1M+ = 43]

Thanks for taking the time to read this and be sure to let me know if there's anything I can help you with.

Make it a fun day,
James

It's oh so close...Thinking about the consistent warm weather that lies ahead has me bubbling with excitement because wa...
02/23/2022

It's oh so close...

Thinking about the consistent warm weather that lies ahead has me bubbling with excitement because warmer weather means sunshine.

Anyways, our second consecutive week with a net positive gain in total # of homes for sale is in the books. Even though contracts pending outpaced new listings and homes priced $1M+ saw another uptick in activity.

That being said, housing activity is generally on par when compared to the same time period last year. Yet, there's one striking difference.

This week had a larger number of new listings hitting the market in comparison to last year. Hopefully, the trend continues.

Contracts Pending (2/13 - 2/19):
Condos = 22
Single Family Homes = 125
[Single Family Homes $1M+ = 56]

Have questions about buying or selling?

Let's have a quick chat and review all the options available to you based on your specific situation.

Make it a fun day,
James

Up, up and away...All the talk these days seems to be about how mortgage rates are expected to rise [yet not above pre-p...
02/16/2022

Up, up and away...

All the talk these days seems to be about how mortgage rates are expected to rise [yet not above pre-pandemic levels].

When you couple that with the fact that February is typically where the # of homes for sale bottoms for the year: we may very well witness THE turning point in the housing market this month.

Just sayin'

Inventory had a net positive gain this week. Largely due to a 33% drop in contract pending activity for the price bands below $800k.

Contracts Pending (2/6 - 2/12):
Condos = 29
Single Family Homes = 107
[Single Family Homes $1M+ = 48]

Whether you're thinking of buying or selling and have questions regarding your specific situation or want to know all your options...

Let's have a quick chat.

Make it a fun day,
James

A tip of the cap to:Lindsey Jacobellis Winner of Team USA's first Olympic Gold Medal at this year's winter games. That a...
02/09/2022

A tip of the cap to:

Lindsey Jacobellis

Winner of Team USA's first Olympic Gold Medal at this year's winter games. That also makes her the oldest female medalist in Winter Olympics history for Team USA.

Record setting:

That's where demand resides in today's housing market. Especially for homes priced $1M+ where contract pending activity spiked 36% this week.

Contracts Pending (1/30 - 2/5):
Condos = 34
Single Family Homes = 127
[Single Family Homes $1M+ = 49]

Need specific help with your specific situation?

Let me know.

Make it a fun day,
James

Wow! Even though Pending Activity has only outpaced # New Listings during the final week of the month...January ends wi...
02/02/2022

Wow!

Even though Pending Activity has only outpaced # New Listings during the final week of the month...

January ends with less homes for sale than it started.

What does this likely mean for home buyers moving forward?

If you’ve been standing on the sidelines, hoping for prices to drop, you may be out of luck.

Here's why:

Home prices are expected to keep climbing in 2022, yet at a slower pace than what we saw over the last 12 months. Plus, in the unlikely event that home prices were to dip, any perceived savings will likely be offset by higher mortgage rates.

So if you’re planning to buy a new home in 2022:

It's going to be of utmost importance that you act fast and be aggressive when making an offer on a home that suits your needs... kinda like the old video game, "Pac-Man."

Remember?

You spent most of the game running away from ghosts. Yet, every now and again you'd eat a POWER PELLET and suddenly you get tons of energy and then you're actually chasing the ghosts and you feel ON.

That will require proper planning and an abundance of patience.

Contracts Pending (1/23 - 1/29):
Condos = 34
Single Family Homes = 124
[Single Family Homes $1M+ = 36]

Let me know if you need specific help with your specific situation, I'm only a phone call away.

Make it a fun day,
James

And then this happened...While discussions of a potential softening in demand heading into 2022 are being had, contract ...
01/26/2022

And then this happened...

While discussions of a potential softening in demand heading into 2022 are being had, contract pending activity for home's priced $1M+ has been escalating and was accentuated by these two (2) luxury listings that went pending this week:

- A 50-acre equestrian property and former home to J.D. Rockefeller's grandchild that came with an asking price of $8.875M

- An Estate located in Bronxville that offers 1.34 acres of privacy, a 45' x 25' heated pool and almost every interior amenity you can possibly think of that was asking $7.775M

Are the good times going to keep rolling? Think positive thoughts...

Contracts Pending (1/16 - 1/22):
Condos = 22
Single Family Homes = 68
[Single Family Homes $1M+ = 21]

If you need specific help with your specific situation, whether you're looking at buying and/or selling in 2022, I'm just an email or phone call or text away.

Let me know.

Make it a fun day,
James

Is a return to normalcy on the horizon?It's been quite a different beginning for the housing market this year and some s...
01/19/2022

Is a return to normalcy on the horizon?

It's been quite a different beginning for the housing market this year and some softening in demand would be welcomed...

Less competition and a slower pace of sales (aka- a return to normal) will be a tremendous help to those buyers who struggled to secure a new home last year, while still offering homeowners the opportunity to cash out their equity gains.

So far the signs are pointing that way:

New Listings outpaced Contracts Pending, pending activity declined again for the 4th consecutive week and # Homes for Sale inched slightly higher.

Contracts Pending (1/9 - 1/15):
Condos = 28
Single Family Homes = 56
[Single Family Homes $1M+ = 17]

Stay safe, stay healthy and

Make it a FUN day,
James

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Scarsdale, NY
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