Berkshire Hathaway HomeServices New England Properties' Monthly and Quarterly Market Reports are availble for all towns in Westchester County, New York; Connecticut; Rhode Island and Massachusetts. Subscribe to receive an email every month with up-to-the-minute data.
Westchester County 2018 First Quarter Market Report Summary
Welcome to Berkshire Hathaway HomeServices Westchester Properties’ First Quarter 2018 Westchester County Market Report, our examination of the single family and condominium markets throughout the county compared with trends across the state, Northeast and nationwide.
Westchester County sales were down by 2.9% in the first quarter while average price remained flat at $601,375. Average days on market for all home types dropped to 87 days (a 9.4% decrease), while the median sales price for single family homes and cooperatives were up by 1.9% and 8.4% respectively. Condominium median prices dropped by 2.3% year over year. Luxury home sales – those priced over $2 million – decreased by 22.9% to 54 total sales when compared to first quarter 2017. Homes sold in the $2-$3 million range were strongest with 36 sales.
Sales professionals are reporting many active buyers in the market looking for similar-style homes. Results from a recent survey by Realtor.com® stated that the ‘typical spring home buyer’ is on the hunt for a three-bedroom, two-bathroom house with a garage and updated kitchen. The survey also shows that increasing rental costs are pushing more young adults toward homeownership, with 23 percent of buyers between the ages of 18 and 34 reporting rising rents as a trigger for their recent home purchase.
If you have any questions regarding this report, 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