From the desk of Paul Breunich, President and Chief Executive Officer of William Pitt and Julia B. Fee Sotheby’s International Realty
After major media outlets from Bloomberg to The Wall Street Journal cited inaccurate data to report on the real estate market in Westchester County earlier this year, we made the commitment to provide an accurate summary of the market on a monthly basis to ensure consumers are armed with the facts.
We last looked at Westchester, including multiple price ranges in the county overall, the southern county and the northern county, in our October report, which you can read here. Today we present our findings on the fourth quarter to date—the period of October 1 to November 30, 2018—as well as year to date through November 30. All data is provided by the Hudson Gateway Multiple Listing Service.
We will continue to deliver a more highly detailed review in our quarterly reports. We hope you find this information valuable in evaluating your own real estate needs, and invite you to contact one of our sales associates if we can assist you in any way
Westchester County Overall
Year to date, Westchester is down 4% in unit sales and 3% in dollar volume compared to the first 11 months of 2017, a similar trend to what we have seen throughout the year. Fourth quarter to date, unit sales are down 3% and volume a slight 1%. The $3 to $4 million range witnessed an uptick while all other price ranges fell behind.
Southern Westchester County
The year to date figures in the southern county are similar to those from the county as a whole: units are off 4% and volume 2% year over year. Fourth quarter to date, unit sales slipped behind the same time last year by 6% and dollar volume by 3%. Again, the $3 to $4 million range experienced a surge while sales declined in other price ranges.
Northern Westchester County
As with the southern county, the northern county is behind 2017 year to date, with unit sales decreasing by 6% and volume by 5% year over year. Yet if October saw unit sales pacing evenly with the same month last year, quarter to date the region has now begun to pull ahead, with units increasing by a slight 2% and volume by 4% compared to the same time last year.
Paul E. Breunich