Westchester getting cheaper

October 30, 2008 11:49AM

Sellers in both Westchester and Rockland counties are reducing their home prices by 5 to 25 percent, brokers say. Greg Rand, a managing partner at Prudential Rand Realty, said a home in Westchester that listed for $800,000 a year ago could sell today for $675,000. Westchester brokers say the market will have bottomed out when prices return to 2004 levels, which, for a typical single-family Westchester home, was $685,000. In the third quarter of this year, by contrast, the median sales price was $710,000.

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