Westchester County NY Real Estate Blog - Pricing

30 Years of National Homeownership Month

30 years of National Homeownership Month 

Homeownership remains a cornerstone of the American Dream — but getting started can feel overwhelming. Nearly 1 in 4 Gen Z and Millennial adults say they’re anxious about where to begin and who to trust. And 69% of U.S. adults mistakenly believe mortgage rates are at all-time highs. Add Redfin’s headline about “500,000 more sellers than buyers,” and hesitation is understandable. But here’s what’s missing:

• 72% of renters are more worried about rising rents and their long-term finances.

• While rates are up from pandemic lows, they’re still under the historical average of 7.7%; and projected to dip in the year ahead.

• 22 of the top 50 metro areas have returned to…

74 Views, 0 Comments

More Homes Selling to the Highest (Cash) Bidder

More Homes Selling to the Highest (Cash) Bidder

Westchester County’s housing market has strongly favored sellers in recent years, with many buyers forced to offer above the asking price just to stay competitive. According to my research, 56.2% of homes in Westchester sold for more than the listed price last year.  With all-cash offers becoming more frequent,  HousingWire is reporting that New York ranks second in the nation with 40.4% of purchases made in cash. It begs the question: What makes cash offers so appealing to sellers?

1. Fewer Risks: No appraisal and mortgage approvals are required.

2. Can Close “As-Is”: The ability to close with issues like open permits or code violations which lenders will typically…

170 Views, 0 Comments

Inside Westchester County's Bidding Wars

Inside Westchester’s Bidding Wars

The Westchester County housing market continues to see a high volume of homes selling above their asking price. My analysis of single-family home sales by school district reveals that 56.2% of closed sales last year sold above list price. Of the 39 school districts I reviewed, 30 had a majority of sales close above asking, while only 9 districts fell below the 50% mark. Every school district, with the exception of Bronxville (99.3%) and Tuckahoe (96.8%), had an average sale-to-list price ratio above 100%.

311 Views, 0 Comments

Think Prices Are Dropping? Not in New York

Think Prices Are Dropping? Not in New York

According to Realtor.com, 18% of home listings nationwide had price reductions last month, marking the highest percentage for any April since 2016. While the article doesn’t define what constitutes a "healthy" rate, historical trends suggest that around 10% to 15% of active listings typically undergo a price cut. Many Southern and Western states reported reductions above 15%, and nearly all states experienced an increase in price reductions compared to last year. In Westchester County, 224 out of 1,328 active listings in April had a price drop, a 6.67% increase from the same period in 2024.

Ralph’s Take

What does this mean for Westchester County? I track price reduction…

187 Views, 0 Comments

What If You Bought Your Home in 1995?

What If You Bought Your Home in 1995?

According to ResiClub's analysis of the Freddie Mac House Price Index, U.S. home prices surged by an impressive 300% from March 1995 to March 2025. Despite market fluctuations over the past three decades, homeowners experienced substantial gains in home equity, highlighting the enduring value of real estate as a wealth-building tool. Some may argue that stocks offer superior returns, noting that the S&P 500 Index rose by roughly 926% over the same period, but consider this:

• Leverage: Home price gains can yield far higher returns on a buyer’s down payment due to mortgage leverage.

• Opportunity Cost: Choosing to skip homeownership often means paying rent and underinvesting in…

140 Views, 0 Comments

Equity Flex: Baby Boomers are Driving the Market

Equity Flex: Baby Boomers are Driving the Market

Despite millennials entering their peak home-buying years, baby boomers outpaced them significantly in home purchases over the past year. According to the 2025 Home Buyers and Sellers Generational Trends Report by the National Association of Realtors (NAR), baby boomers accounted for 42% of all home buyers, a sharp contrast to the 29% share held by millennials. This marks a notable decline in millennial participation, down from 38% the year before. Additional findings:

• Silent Generation (ages 79–99): purchased highest share of new construction.

• Baby Boomers (ages 60-78): the largest share of buyers and sellers.

• Gen Xers (ages 45-59): made up 24% of home…

126 Views, 0 Comments

Locked-In & Loaded: Homeowners Sitting on a Mountain of Equity

Locked-In & Loaded: Homeowners Sitting on a Mountain of Equity

According to new numbers from FHFA and BatchService via ResiClub, the national average loan-to-value ratio (LTV) sits at just 62.2%. That means the typical homeowner today owns nearly 40% of their home outright — a powerful financial position. 

For reference: If a home is worth $400,000, and the mortgage balance is $320,000, the LTV is 80% (20% equity). A lower LTV = stronger footing. Nationally, that figure has plummeted, with some states far below average.

Ralph’s Take

This aligns perfectly with what we’re seeing in Westchester. Many sellers aren’t under pressure — they’ve built up significant equity and are comfortably locked into ultra-low…

189 Views, 0 Comments

The Longer a House Sits, The Less It Sells For

The Longer a House Sits, The Less It Sells For

Overpricing your house could cost you more than you think.

Homes that sit on the market tend to sell for less — and it usually comes down to pricing. When a property is listed at or just below market value, it often sells quickly, sometimes with multiple offers. But overprice it, and things stall. Interest fades, and sellers end up cutting the price or accepting less. Today’s buyers are savvy. With market data at their fingertips, they know when a price is off — and many won’t bother engaging with a seller who seems unrealistic.

126 Views, 0 Comments

Zillow Downgrades 2025 Home Price Forecast

Zillow Downgrades 2025 Home Price Forecast

Zillow has revised its U.S. home price forecast via ResiClub, now predicting just a 0.8% increase from February 2025 to February 2026, down from earlier projections of 1.1% and 2.9%. This reflects rising inventory levels nationally and ongoing affordability issues, which are dampening buyer demand. Zillow expects only 4.1 million existing home sales in 2025, significantly below pre-pandemic levels.

• 2025 existing home sales projected at 4.1M, down from 5.3M in 2019.

• Temporary spring sales boost expected, followed by a seasonal dip.

• Single-family rents forecasted to rise 3.6%; multifamily rents up 2.5%.

• Rents continue climbing, 3.6% for single-family homes,…

99 Views, 0 Comments

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

…

171 Views, 0 Comments