This is a series of articles written about the NY suburban real estate markets in Westchester, Connecticut, Long Island and New Jersey. As the recession deepens, many would-be sellers feel stuck. There are lots of houses on the market, but prices are down, and buyers are few. …Conventional wisdom holds that well-priced, attractive and aggressively marketed homes will sell. Now that is not necessarily true, said Cynthia Lippolis, principal broker with River Towns GMAC Real Estate in Croton-on-Hudson. “I have some good listings that are priced very well and attractive, yet they are sitting there,” she said. “The economy is holding everyone back.”
By Mary Jo Patterson, Feb. 22, 2009, NYT

Link to Article

 

Also, see the 5-Year Graph of NY Suburban Sales, NYT