Is Westchester County, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Westchester County is a seller's market

Buyer's
Market

Difference Since January 2023

Since last year, Westchester County has remained a Seller's Market.

Key Takeaway

Westchester County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Westchester County, NY

How much do homes in Westchester County, NY cost?

Median Sold Price

$672,756

$356/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

+$22,524(+3.5%)

Key Takeaway

Homes in Westchester County have sold for 3.5% more than they did a year ago.

Summary: The median home sold price in Westchester County was $672,756 in January 2024, up 3.5% from last year, and the median price per square foot was $356.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 $188K$188.8K
0.4%
2 $393.5K$425K
+8.0%
3 $670.2K$689.3K
+2.9%
4 $903K$966K
+7.0%
5+ $1.2M$1.3M
+2.7%

Summary: Westchester County housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.4%, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 7%, and 5+ bedroom homes increased by 2.7%.

Median Sold Price Compared To Nearby Counties

Fairfield County
+6.7%
Rockland County
+5.9%
Westchester County
+3.5%
Bronx County
-3.4%

Housing Supply in Westchester County, NY

How many homes are available in Westchester County, NY?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
2,8962,846-1.7%

Summary: The Westchester County real estate market had 2,846 homes for sale in January 2024, a 1.7% decrease compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 553549
-0.7%
2 588590
0.3%
3 650617
-5.1%
4 562554
-1.4%
5+ 543536
-1.3%

Summary: The Westchester County housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 0.7%, 2 bedroom homes increased by 0.3%, 3 bedroom homes decreased by 5.1%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes decreased by 1.3%.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
597492-17.6%

Asking Price vs. Sold Price

206 Homes Were Sold
Under Asking

74 Homes Were Sold
At Asking

212 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Westchester County, you could pay more than the asking price. 43.1% of homes here sold above asking price last month.

Summary: A total of 492 homes were sold or pending in Westchester County in January 2024, down by 17.6% month-over-month. Of the 492 sold homes, 42% were sold under asking, 15% were sold at asking, and 43% were sold over asking.

Days on Market for Westchester County, NY

How long does it take to sell a home in Westchester County, NY?

Average Sale Time

Jan 2023Jan 2024CHANGE
56 Days45 Days-20.7%

Summary: Homes in Westchester County had an average of 45 days on market in Jan 2024, down by 20.7% compared to last year.

Breakdown of Home Sale Times

257 Homes Were Sold
Under 30 Days

174 Homes Were Sold
In 30 - 90 Days

60 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Westchester County are selling fast, if you're buying plan to act quickly.

Summary: During January 2024, 492 homes were sold in Westchester County; 52% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

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