In February 2025, Westchester County’s real estate market exhibited notable trends, reflecting both challenges and opportunities for buyers and sellers. Here is the market update:
Sales Activity
The county recorded 217 single-family home sales in February 2025, a decrease of 8.1% compared to the same month in 2024.
This decline in sales activity may indicate a cooling market or potential buyers facing affordability issues.
Pricing Trends
Despite the drop in sales, the median sales price for single-family homes rose by 4.7% year-over-year, reaching $870,000 in February 2025.
This increase suggests sustained demand and the enduring appeal of Westchester County’s housing market.
Inventory Levels
New listings for single-family homes saw a decline, with only 578 properties on the market in February 2025—a 8.5% decrease from the previous year.
This reduction in supply could lead to increased competition among buyers and potential upward pressure on prices.
Market Dynamics
Homes spent an average of 67 days on the market in February 2025, up 39.6% from the previous year.
This longer time on the market might indicate buyers exercising more caution or a shift toward a more balanced market. Additionally, sellers received an average of 101% of their asking prices, reflecting continued strong demand.
Local Spotlight: White Plains
In White Plains, the median home sale price in February 2025 was $897,500 marking a 12.4% increase from the previous year.
This substantial rise underscores the city’s growing desirability and robust market conditions.
Conclusion
Westchester County’s real estate market in February 2025 presented a mixed landscape: declining sales and new listings contrasted with rising median prices and sustained demand. These dynamics suggest a competitive environment where strategic planning is essential for both buyers and sellers.
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*OKMLS, 02/01/2025 – 02/28/2025 vs. 02/01/2024 – 02/29/2024, Single Family, Westchester, Westchester
