WPCNR THE REALTY RECORDER. February 24, 2010: Rand Realty citing White Plains Multiple Listing Service statistics on White Plains sales in the October, November December 2009 quarter showed that 104 White Plains homes were on the market, and that the average sale price for the 48 homes sold  in that period continued to drop, off 24%.2 from the identical final quarter of 2008.

There were 13 more home sales in the final quarter of 2009 than there were in the final quarter of 2008. The Median Selling Price (meaning exactly half of the 48 homes sold sold for above the median price, and half below it), continued to fall…off 22.5%. That median price is $542,000, down from $700,000 in 2008.

The average selling price was $583,832 for the 48 homes sold in the last quarter, down from the $770,003 average sale price for the 35 homes sold in 2008.

The average time it takes to sell a home continues to be about five months  and 3 weeks. There were 104 homes on the market as of January 1.

In contrast, when all of Westchester County home sales in the fourth quarter are taken into account, across the county the Average Selling Price only declined 1.2% as opposed to the  24.2% decline in White Plains average selling price. This could be taken to mean high end homes are not coming on the market, and that those that are on the market are selling for less than they used to, a lot less. But at least half the homes sold above the $542,500 level.

In the fourth quarter, White Plains homeowners who sold their homes averaged selling their homes for 5.6% less than they originally listed them for. For example if you put your home on the market for $600,000, you could expect to have to take it down $33,000 more before selling.  Across the county homeowners were settling for 7.4% less than their asking price in the final quarter.

There were 54 homes put on the market in White Plains last quarter, and the inventory was 104 as of December 31, 2009.

Rand notes that "median prices fell 25% (in White Plains), however that does not necessarily mean your home lost 25% of its value.