Westchester Real Estate Market Update: Spring 2024

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Sound Shore Sellers Rejoice! Buyers Act Fast in Strong Spring Market

The spring selling season is here, and the Westchester County real estate market is booming, especially in Southern Westchester and the Sound Shore communities! As a local expert specializing in Pelham, Larchmont, New Rochelle, Mamaroneck, Rye, Harrison & Bronxville, I'm here to provide you with a data-driven update on the market as of March 30, 2024.

Low Inventory Creates a Fast-Paced Market

Good news for sellers: inventory is incredibly low, with only a 1.87 Months Supply currently available. This means homes are flying off the market quickly, with buyers facing high competition.

Sellers Market: Be Prepared for Bidding Wars

The current market favors sellers. With such low inventory and high demand, multiple bids are becoming the norm. The List to Sold Price ratio sits at an impressive 102.7%, indicating that sellers are often exceeding their asking price.

Fast Sales: Don't Miss Out on Your Dream Home

Homes are not lingering on the market. Days on market are down a significant -21% compared to last year. Buyers need to be ready to act fast and move quickly on properties that catch their eye.

Healthy Market Growth for Buyers and Sellers

While competition is fierce, the overall market is healthy and stable. The median sold price in Westchester County has grown 4% to a healthy $785,000. This is a positive sign for both buyers and sellers, indicating a strong and predictable market.

Ready to Make Your Move in the Sound Shore?

Whether you're a buyer looking for your dream home or a seller ready to capitalize on the hot market, I can help you navigate the competitive landscape of the Sound Shore communities. With my local expertise and proven track record, I'll guide you through every step of the process, ensuring a smooth and successful transaction.

Contact Jennifer Meyer, Compass Real Estate Today!

Let's discuss your real estate goals in Pelham, Larchmont, New Rochelle, Mamaroneck, Rye, or Harrison.

Don't miss out on this exciting market!

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