Berkshire Hathaway HomeServices Westchester Properties Releases First Quarter Westchester Market Report for 2017
Wallingford, CT – Berkshire Hathaway HomeServices Westchester Properties has released the First Quarter 2017 Westchester Market Report, a valuable resource for anyone looking to buy or sell a home. The report examines the single family and condominium markets throughout Westchester and is an in-depth analysis of sales and emerging trends in the market.
Year over year, Westchester County saw increased sales in all home types. A 6.9% increase in single family home sales, up 2.5% for condominiums and a 9.6% increase for cooperative sales. Average price increased 10.2% for single family homes and 20.9% for condominiums. Average price for cooperatives decreased 7.9%.
High prices and oversupply in Manhattan have led to an increase in buyers looking for homes in Westchester County, and competition still remains fierce with the increase of more buyers. Most Westchester County towns saw double digit increases in average price and days on market averaged below 100 days. Trends are showing that towns with active downtown areas and in-town Metro North Railroad stations are most desirable.
Both sellers and buyers surveyed by the National Association of Realtors believe it is a good time to buy and sell. With prices on the rise and possible mortgage increases, buyers are in the market creating demand. Sellers should consider improvements and competitive pricing and get their home listed quickly as the weather starts to warm up. The only challenge for sellers is finding their next home which makes working with a Realtor® imperative in this market who can help with contingencies and options in selling and buying on the same day. Click here to view the full market report.
If you have any questions regarding this report, Berkshire Hathaway HomeServices Westchester Properties sales executives are here to help you navigate the current market with expert knowledge and exceptional service.
Berkshire Hathaway HomeServices New England, New York and Westchester Properties is a leading real estate brokerage firm with over 1,800 REALTORS® in Connecticut, Massachusetts, New York and Rhode Island. Share in our heritage and esteemed reputation as one of the most admired and respected companies in the world. By working with Berkshire Hathaway HomeServices New England, New York and Westchester Properties, our clients are aligned with a century of unparalleled financial strength, operational excellence and business ethics. For more information, visit www.bhhsWestchester.com.