Found 4 blog entries tagged as Westchester Housing Market Update.

Inside Westchester’s Bidding Wars

Bidding wars in Westchester County, New York

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%.

Highest Percentage of Sales Over Ask:
    1.  Hendrick Hudson:  77.8%
    2.  Rye Neck:  72.2%
    3.  Elmsford:  70.8%
    4.  Irvington:  69.4%
    5.  Ardsley:  68.4%
    6.  Peekskill:  67.9%
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Two weeks ago, I launched a three-family listing, and the turnout blew us away.

Over 100 people showed up to the open house. Anticipating a strong turnout, I brought backup: my father (our broker), a sales agent, and a mortgage pro — and we could still barely keep up.

We received 4 offers on the first day, and by Thursday's "Highest and Best" deadline, that number had grown to 16.

The seller accepted an above-asking offer with exceptional terms. ????

An open house visitor asked: Which markets get the highest bids over asking?

What a great Question! We’ll dive into that tomorrow.

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The financial markets were all over the place this week.

Stocks dropped early on, and bonds weren’t spared either. As bond prices fell, yields jumped — pushing mortgage rates higher. The average 30-year fixed mortgage rate now sits at 7.1%, the highest level since February 19th.

But here’s the silver lining: Volatility works both ways.

Last Friday, the average rate had dipped to 6.55% — the lowest point so far this year. That drop sparked a surge in activity: mortgage applications jumped 20%, hitting their highest level since September 2024, while refinance demand soared 35% in just one week.

Savvy buyers should be ready to lock in lower rates during the dips as they move through the homebuying process.


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We're all closely watching how markets are reacting to the Trump administration’s newly imposed tariffs — but first, a few thoughts on March’s real estate activity.

Nationally, the market is moving — but prices aren’t surging.

For the first time this year, weekly home sales topped 2024 levels. Inventory is up 30% year over year. And the median home price? Just 1% higher than this time last year.*  

Locally, inventory levels remain nearly identical to last year.

Last month, 883 new listings came on the market in Westchester County — a slight uptick from the 878 in March 2024. That represents a modest 3.6% increase. But the median home price is up 9.47%.**

More homes will hit the market as the season…

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