Westchester County NY Real Estate Blog - Housing Market Update

May 2025 Housing Market Report

The Hudson Gateway Association of REALTORS released its May 2025 housing market report this week. Westchester County remains the region’s most competitive market.

Here are the highlights:

• Median Sale Price:  $999,000 for single-family homes (2% increase from last year).

• Closed Sales:  Up 7.4% compared to May 2024, indicating strong demand.

• Market Supply:  2.8 months (+3.7%) - still deeply a seller’s market.

• Buyer Activity:  High demand continues, especially in entry-level and mid-tier markets where inventory is scarcest.

• Market Dynamics:  Sellers continue to benefit from tight supply, though pricing competitively and timely listing remain important to attract offers.

As we near…

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Market Shifts Are Reshaping Westchester’s Peak Season

Market Shifts Are Reshaping Westchester’s Peak Season

Click the Chart for All Statistics

Spring 2025 may have brought another early peak in Westchester’s real estate market. For the third year in a row, new listings declined from April to May, bucking the pre-2020 trend where May was usually the high point. Although inventory is up from last year, it's still well below historical norms, with fewer than half as many homes for sale this spring as in 2015. Here’s a deeper dive into Westchester County’s Spring markets since 2015:

• Earlier New Listing Peak: April has outpaced May for new listings in recent years, possibly due to sellers trying to attract buyers ahead of rising competition.

• Inventory Trends: The peak in…

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Tariffs, Rates, and What It Means for Spring Buyers

Tariffs, Rates, and What It Means for Spring Buyers

President Donald Trump's recent "Liberation Day" tariffs are expected to impact the U.S. housing market by increasing construction costs and influencing mortgage rates. Following the announcement, mortgage rates fell sharply, with the average 30-year fixed rate dropping 12 basis points to 6.63%—the lowest since October. This decline reflects a market shift as investors moved from equities into U.S. Treasury bonds, which typically guide mortgage rates. At the same time, the tariffs are projected to raise new housing costs, with the National Association of Home Builders (NAHB) estimating a $9,200 increase per new single-family home due to higher prices on imported materials like lumber,…

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The Top Price Ranges Driving Westchester’s Real Estate Market

The Top Price Ranges Driving Westchester’s Real Estate Market

The chart above provides a breakdown of property showings by price range for homes listed under $2 million in Westchester County, from January 1st to March 15th. It highlights which price segments that are attracting the most buyer interest, showing trends in demand based on the number of showings per listing. Key findings:

Most Active Price Ranges:

1. $600K – $699K: The lead in every category, representing 12.19% of all showings.

2. $700K – $799K: Placed second in all categories except showings per listing (10th)

3. $1.6M – $1.69M: Second in showings per listing (21.24), despite overall low volume.

Ralph’s Take

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When to List Your Westchester Home for the Highest Offers

When to List Your Home for the Highest Offers

​According to a recent analysis by Realtor.com, the optimal time to sell your home in 2025 will be the week of April 13–19th. Homes listed during this period are expected to achieve higher selling prices, face reduced competition, and sell faster than average.​ Here’s why they consider that week ideal:

• Listings typically see a 1.1% increase in pricing compared to the average week.

• Properties often sell nine days quicker than the annual average.

• Sellers can expect 13% fewer competing listings.

Ralph’s Take

Buyers are entering the market early to get ahead of rising competition, yet many sellers have yet to list, keeping demand high and…

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Happy “pi day” (3.14)

Happy “pi day” (3.14)

Spring Housing Demand:  By late February and early March, we start to see the year's market trends take shape. Here’s how things are stacking up compared to last year:

• Weekly mortgage applications are ⬆️ year-to-date.

• The 30-year fixed mortgage rate is 6.81%, ⬇️ from 7.09%.

• Westchester’s active listings in February: -7.47%.

It's shaping up to be a busy season. In the past two weeks, I’ve shown 24 properties, written 6 offers for buyers, finalized 2 lease signings, and closed 2 transactions. One of my buyers was up against 33 competing offers in a Highest and Best.  

With demand still high, acting fast and making strong offers is key to this market. If you're…

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The “Valentine’s Day Effect” in Real Estate

The “Valentine’s Day Effect” in Real Estate

The "Valentine's Day effect" is real. Every year, the holiday sparks a surge in homebuying as couples take the next big step in their relationships. Whether it's moving in together, upgrading to a larger space, or ditching rent for a mortgage, lovebirds use the occasion as a catalyst for major financial and lifestyle decisions. Beyond romance, practical factors like skyrocketing rents and better mortgage approval odds for couples make homeownership more attractive. Plus, February is a sweet spot for buyers, with lower competition and better deals before the spring market heats up.

Ralph’s Take

Every year, Valentine’s Day sparks big decisions — couples fresh off the holiday high…

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Existing Home Sales Expected to Rise in 2025

Existing Home Sales Expected to Rise in 2025

According to ResiClub's analysis of projections from 16 top industry forecasters, U.S. existing home sales are expected to average around 4.22 million in 2025. Below, you'll find detailed forecasts alongside historical data for added context.

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Westchester’s Highest and Lowest Home Sales

Westchester’s Highest and Lowest Home Sales

In next week’s newsletter, I’ll be diving into the year-end statistics, but for now, above is a sneak peek at Westchester County’s highest and lowest sales of 2024.

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The Most Unique Home Searches of 2024

The Most Unique Home Searches of 2024

Zillow’s natural language search is redefining how we house-hunt. This AI-powered feature has opened a window into what buyers are dreaming of — and it’s not all patios and garages. Since its 2023 launch, the tool has highlighted priorities ranging from the practical to the whimsical. Think “laser tag rooms,” “spooky charm,” or even requests as niche as personal bowling alleys.

The most popular search terms were “pool,” topping the list in 38 states, and “garage,” leading in 46 states. However, some buyers got creative: at least one person in 22 states searched for “haunted” homes, a shopper in Colorado looked for a property with a “roller coaster,” and someone else scoured the entire country…

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