Homes By Silvat

If you’ve been watching the Westchester housing market, you know it’s still buzzing this summer. Prices remain strong—the median single-family home price hit about $1.2 million in June and held steady into July. That’s an 11% jump from last year and a big leap from $999,000 just one month earlier. The average sales price is now around $1.4 million.

Inventory is finally starting to loosen up, with over 3,400 homes on the market in July—a 114% increase year-over-year. New listings for single-family homes were up 148% compared to last July, showing more sellers are jumping in.

Homes are still selling in about 25 days on average, a touch slower than last year, but they’re closing at about 106% of asking price—proof that competition is still fierce.

For sellers, it’s still a great time to list—buyers are active and willing to compete. Properties which are ready to move in are very coveted, mostly get asking price or above. So it is very important for a property to be well presented and well priced.

For buyers, the extra inventory is a welcome change, but moving quickly and having a strong offer strategy is still essential.

Bottom line: Westchester’s summer market is lively, competitive, and offering more options than we’ve seen in quite a while.