Is Westchester County, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Westchester County has remained a Neutral Market.
Key Takeaway
Westchester County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Westchester County, NY
How much do homes in Westchester County, NY cost?
Median Sold Price
$697,492
$367/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Westchester County have sold for 7.3% more than they did a year ago.
Summary: The median home sold price in Westchester County was $697,492 in May 2024, up 7.3% from last year, and the median price per square foot was $367.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $184.5K | $195K | +5.7% |
| 2 Bedrooms | $399.9K | $436.7K | +9.2% |
| 3 Bedrooms | $672.1K | $705K | +4.9% |
| 4 Bedrooms | $910.3K | $999K | +9.7% |
| 5+ Bedrooms | $1.2M | $1.3M | +10.5% |
Summary: Westchester County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.7%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes increased by 10.5%.
Median Sold Price Compared To Nearby Counties
| Bergen County | $589.6K | $650.5K | +10.3% |
| Fairfield County | $538.7K | $581.7K | +8.0% |
| Rockland County | $582.3K | $626K | +7.5% |
| Westchester County | $650K | $697.4K | +7.3% |
| Bronx County | $575.8K | $572.9K | -0.5% |
Housing Supply in Westchester County, NY
How many homes are available in Westchester County, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3,876 | 4,268 | +10.1% |
Summary: The Westchester County real estate market had 4,268 homes for sale in May 2024, a 10.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 594 | 614 | +3.4% |
| 2 Bedrooms | 757 | 816 | +7.8% |
| 3 Bedrooms | 894 | 976 | +9.2% |
| 4 Bedrooms | 825 | 939 | +13.8% |
| 5+ Bedrooms | 806 | 923 | +14.5% |
Summary: The Westchester County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 3.4%, 2 bedroom homes increased by 7.8%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 13.8%, and 5+ bedroom homes increased by 14.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 546 | 645 | +18.1% |
Asking Price vs. Sold Price
207 Homes Were Sold
Under Asking
75 Homes Were Sold
At Asking
363 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Westchester County, you could pay more than the asking price. 56.3% of homes here sold above asking price last month.
Summary: A total of 645 homes were sold or pending in Westchester County in May 2024, up by 18.1% month-over-month. Of the 645 sold homes, 32% were sold under asking, 12% were sold at asking, and 56% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 51 Days | 43 Days | -16.6% |
Summary: Homes in Westchester County had an average of 43 days on market in May 2024, down by 16.6% compared to last year.
Breakdown of Home Sale Times
421 Homes Were Sold
Under 30 Days
137 Homes Were Sold
In 30 - 90 Days
86 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 May 2024, 645 homes were sold in Westchester County; 65% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
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