home prices rising in westchester. search our real estate database to find out how much
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By Lohud Staff | Published on March 4, 2024
Newly released data for November shows that potential buyers and sellers in Westchester County saw houses sell for higher than the previous month's median sale price of $700,000.
The median home sold for $730,000, an analysis of data from Realtor.com shows. That means November, the most recent month for which figures are available, was up 4.3% from October.
Compared to November 2022, the median home sale price was up 5.6% at $730,000 compared to $691,000.
Realtor.com sources sales data from real estate deeds, resulting in a few months' delay in up-to-date data. The statistics don't include homes currently listed for sale, and aren't directly comparable to listings data.
Looking only at single-family homes, the $794,500 median selling price in Westchester County was up 5.9% in November from $750,000 the month prior. Since November 2022, the sale price of single-family homes was up 9.6% from a median of $725,000.
One hundred two single family homes sold for $1 million or more during the month, compared to 127 recorded transactions of at least $1 million in November 2022.
Condominiums and townhomes decreased by 7.7% in sales price during November to a median of $520,000 from $563,250 in October. Compared to November 2022, the sales price of condominiums and townhomes was up 7.8% from $482,500. Nine condominiums or townhomes sold for $1 million or more during the month, compared to 15 recorded transactions of at least $1 million in November 2022.
In November, the number of recorded sales in Westchester County dropped by 29.4% since November 2022 from 591 to 417. All residential home sales totaled to $496.1 million.
In New York, homes sold at a median of $355,946 during November, down 7.5% from $385,000 in October. There were 9,431 recorded sales across the state during November, down 26.3% from 12,789 recorded sales in November 2022.
The total value of recorded residential home sales in New York decreased by 14.4% from $7.9 billion in October to $6.8 billion this November.
Out of all residential home sales in New York, 12.5% of homes sold for at least $1 million in November, up from 11.85% in November 2022.
Sales prices of single-family homes across New York decreased by 10.1% from a median of $344,828 in October to $310,166 in November. Since November 2022, the sale price of single-family homes across the state was down 20.5% from $390,138.
Across the state, the sale price of condominiums and townhomes rose 1.4% from a median of $499,387 in October to $506,527 during November. The median sale price of condominiums and townhomes is up 3.6% from the median of $489,013 in November 2022.
The median home sale price used in this report represents the midway point of all the houses or units listed over the given period of time. The median offers a more accurate view of what's happening in a market than the average sale price, which would mean taking the sum of all sale prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high sale.