Is Westchester County, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Westchester County was a Neutral Market.
Key Takeaway
Westchester County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Westchester County, NY
How much do homes in Westchester County, NY cost?
Median Sold Price
$681,099
$361/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Westchester County have sold for 4.7% more than they did a year ago.
Summary: The median home sold price in Westchester County was $681,099 in March 2024, up 4.7% from last year, and the median price per square foot was $361.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185.8K | $189.9K | +2.2% |
| 2 Bedrooms | $393.9K | $429.6K | +9.1% |
| 3 Bedrooms | $674.9K | $695.2K | +3.0% |
| 4 Bedrooms | $910.3K | $975.2K | +7.1% |
| 5+ Bedrooms | $1.3M | $1.3M | +4.2% |
Summary: Westchester County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.2%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 4.2%.
Median Sold Price Compared To Nearby Counties
| Fairfield County | $534.9K | $574.7K | +7.4% |
| Rockland County | $580.1K | $612.3K | +5.5% |
| Westchester County | $650.4K | $681K | +4.7% |
Housing Supply in Westchester County, NY
How many homes are available in Westchester County, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3,002 | 3,292 | +9.7% |
Summary: The Westchester County real estate market had 3,292 homes for sale in March 2024, a 9.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 546 | 570 | +4.4% |
| 2 Bedrooms | 636 | 689 | +8.3% |
| 3 Bedrooms | 633 | 700 | +10.6% |
| 4 Bedrooms | 605 | 662 | +9.4% |
| 5+ Bedrooms | 582 | 671 | +15.3% |
Summary: The Westchester County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 4.4%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 10.6%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 15.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 453 | 396 | -12.6% |
Asking Price vs. Sold Price
157 Homes Were Sold
Under Asking
62 Homes Were Sold
At Asking
177 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Westchester County, you could pay more than the asking price. 44.7% of homes here sold above asking price last month.
Summary: A total of 396 homes were sold or pending in Westchester County in March 2024, down by 12.6% month-over-month. Of the 396 sold homes, 40% were sold under asking, 16% were sold at asking, and 45% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 77 Days | 57 Days | -26.0% |
Summary: Homes in Westchester County had an average of 57 days on market in Mar 2024, down by 26% compared to last year.
Breakdown of Home Sale Times
190 Homes Were Sold
Under 30 Days
121 Homes Were Sold
In 30 - 90 Days
85 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Westchester County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 396 homes were sold in Westchester County; 48% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
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