The end of the second quarter saw the Westchester County real estate market slipping behind the same period last year with moderate declines in unit sales and dollar volume, a trend that has persisted since the beginning of 2018. As we enter the second half of the year and close the books on July, we see that the county remains down year to date versus the first seven months last year, but July on its own performed experienced sales levels that were very similar to the same month in 2018. This consistency represents an improvement from the ongoing state of decline and leaves us feeling optimistic going forward.
The charts below illustrate sales results in Westchester across multiple price ranges in the county overall, the southern county and the northern county, for the periods of July 1 to July 31, 2019, and January 1 to July 31, 2019, compared with the same time frames last year. 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 3% in unit sales versus the first seven months of 2019. Dollar volume is off by a larger 7%, a result of a more challenged high end, particularly from $2 to $3 million. For a deeper look at how the high end has impacted the market overall, please read our Second Quarter Market Watch. In July, unit sales were very consistent with the same month last year across all price ranges, fluctuating only by single digits in most price brackets, except the $1.5 to $2 million range, where units jumped ahead by 29%, or 13 units. Overall, unit sales and dollar volume were flat in July.
Southern Westchester County
In the southern county, unit sales year to date have declined by 4% year over year, while dollar volume has seen a steeper decline of 9%. These figures improved in July, where unit sales were nearly flat, dropping just 1%, and dollar volume was down 3% versus the same month last year. Sales notably increased in the $1.5 to $2 million price sector by 49%, or 17 units.
Northern Westchester County
Year to date, the northern county is holding steady with 2018, with unit sales standing flat and dollar volume dipping just 1% versus the first seven months last year. In July, the region experienced growth with unit sales climbing ahead by 3% and dollar volume 10%, driven by an increase in sales over $2 million.
Paul E. Breunich