If 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—by now the county is beginning to demonstrate a comeback. Year to date, sales across the county overall are still down versus the first eight months in 2018, but when we consider the third quarter on its own, we see an increase. For the months of July and August, unit sales and dollar volume are trending higher than the same time last year.
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 August 31, 2019, and January 1 to August 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 2% in unit sales versus the first eight months of 2019, while dollar volume is off by a somewhat higher 4%, a result of a more challenged high end market throughout the county this year. For a deeper look at how the high end has impacted the market overall, please read our Second Quarter Market Watch. Third quarter to date, unit sales have improved over the same period last year across most price ranges, increasing by 2%, while dollar volume jumped ahead by 5%.
Southern Westchester County
In the southern county, unit sales year to date have declined by 3% comparing the first eight months of 2018 and 2019, while dollar volume has declined 5%. These figures have improved so far in the third quarter, where unit sales were flat in July and August versus the same months last year, and dollar volume was ahead by 5%. Sales notably increased by a substantial amount in the $1.5 to $2.5 million price range.
Northern Westchester County
Year to date, the northern county is holding steady with 2018, with unit sales and dollar volume both standing nearly flat versus the first eight months last year. In July and August, the region experienced growth with unit sales and dollar volume both climbing ahead by 6%. A jump in the $2 to $2.5 million range contributed to this increase.
Respectfully,
Paul E. Breunich
203.913.5730
