Westchester housing market ticked up in Q1

Tri-State /
Apr.April 08, 2020 12:15 PM
115 Drake Smith Lane in Rye City (Credit: Zillow)

115 Drake Smith Lane in Rye City (Credit: Zillow)

 

Home sales and prices improved slightly in the first quarter of 2019 in Westchester County, but inventory shrunk significantly year-over-year. According to LoHud, 1,050 homes sold at a median price of $641,250, up 6.7 percent and 6.9 percent, respectively. But active listings fell 26 percent year-over-year, according to data from brokerage Houlihan Lawrence. During the first quarter, 44 luxury homes – defined as over $2 million – sold, a 51 percent increase over the same period last year. The priciest sale was a home in Rye that went for $4.2 million, a 20 percent discount from its original asking price. Given the coronavirus pandemic, closed sales are expected to decline dramatically in the second and third quarters. [LoHud] – James Kleimann


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