What You’ll Pay
As of early July, there were some 50 residential properties on the market in Peekskill, from a four-bedroom, four-and-a-half-bathroom house, with annual taxes of $17,490, listed for $900,000 to a studio condominium listed for $74,000. A single multifamily house was listed for $649,000.
While single-family home prices have dropped elsewhere, Peekskill has yet to see a similar drop, said Kathy Kane, an associate broker with Coldwell Banker Realty. And inventory is scarce. According to data from OneKey MLS, provided by Ms. Campanelli, there were 15 single-family homes for sale in July of 2022 — almost a 29 percent drop from the number available in July of 2021. As for condominiums, the number for sale in July was about 37 percent lower than a year earlier. Only inventory of co-ops increased, to 16 units in July from 13 the year before.
According to information provided by Robert Morin, Peekskill’s assessor, the median sale prices of single-family homes, multifamily houses and condominiums have increased this year: At $485,000, the price of a single-family home was almost 12 percent higher than last year’s $433,500; condominiums, at $372,000, were up about 16 percent; multifamily houses, at $530,000, rose 10.5 percent. Only co-ops dropped, by 13 percent, to $101,500.
As for market-rate apartments, a one-bedroom at the Fort Hills Apartments can rent for upward of $2,800 a month, while a two-bedroom goes for around $4,150 and a three-bedroom can fetch $5,000.
Source: | This article originally belongs to Nytimes.com
