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Westchester County 2018 Third Quarter Market Report Summary
In Westchester County, new listings were down by 6%, 1% and 11% for single family, condo and co-op homes respectively, impacting the number of sales for the quarter. Average price for all home sales increased slightly to $691,950 while average days on market dropped 6% to 63 days. Competition among buyers is high with the County maintaining over 98% list to sale pricing and sales increasing in towns where more homes were listed for sale when compared to last year. Buyers seem to be following the inventory.
In the high end of the market, the number of homes sold over $2 million remained flat year over year (only 2 fewer than in the third quarter of 2017) with average prices increasing slightly to $2.9 million. Harrison, Mamaroneck, North Castle, and the Town of Rye all had more luxury sales this quarter when compared to the third quarter of 2017.
Seasonal shifts once seen in year’s past with buyers making decisions in Spring and Fall have not held true in the Northeast. This combined with impending loan rate increases, high consumer confidence and strong economy should drive sellers to the market and not wait until Spring of 2019.
If you have any questions regarding this report or real estate questions in general, Berkshire Hathaway HomeServices Westchester Properties sales executives are here to help you navigate the current market with expert knowledge and exceptional service.
VIEW WESTCHESTER COUNTY MARKET REPORT