Why Should A Home Buyer Purchase A Home In The New Rochelle Residential Real Estate Market?

New Rochelle, New York is a neighborhood that is known for having some of the most expensive real estatearound. In addition to new construction, there are alreaddy around 11,000 homes, including apartments and condos, in New Rochelle. Although the area has expensive real estate, the current home buying market has taken a plunge and these homes are available for much less. 

New Rochelle has some of the most expensive real estate in the nation. While this statement is generally true, there has been an increasing number of condos in downtown New Rochelle go up for sale due to new construction outside the city proper. These condos sell for around $300,000 each, which has taken the housing market down from $700,000 on average a year ago to $500,000 now. 

What does this mean for the person considering a move to New Rochelle? It means you can save a substantial amount of money on a home purchase in the city right now. For the single who wishes to move into the city, there are several condos and townhouses available. The larger single-family homes are just outside the city and many of these estates go for several million dollars. While much of the city and surrounding suburbs are developed already, there is still land for sale in certain areas. This will allow a potential homeowner to purchase a piece of land and build new construction on their land. Building is generally cheaper than purchasing an existing home, and you can personalize new construction. 

There are many housing possibilities available in New Rochelle, New York. From condos and townhomes in the heart of the city to multi-million dollar estates in the outlying suburbs, this city is full of possibilities. Several suburbs still have land available for the person or family that is interested in new construction and customization. Visit www.newrochelle.com for more information about home ownership in this great city.

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