via Lohud

By USA Today Network | Published on April 18, 2024

Newly released data from Realtor.com for January shows that potential buyers and sellers in Westchester County saw houses sell for lower than the previous month's median sale price of $765,000.

The median home sold for $745,000, an analysis of data from Realtor.com shows. That means January, the most recent month for which figures are available, was down 2.6% from December.

Compared to January 2023, the median home sale price was up 10.4% at $745,000 compared to $675,000.

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 $829,500 median selling price in Westchester County was up 2.4% in January from $810,000 the month prior. Since January 2023, the sale price of single-family homes was up 16% from a median of $715,000.

One hundred nineteen single family homes sold for $1 million or more during the month, compared to 102 recorded transactions of at least $1 million in January 2023.

Condominiums and townhomes increased by 4.1% in sales price during January to a median of $510,000 from $490,000 in December. Compared to January 2023, the sales price of condominiums and townhomes was up 8.5% from $470,000. Eight​ condominiums or townhomes sold for $1 million or more during the month, compared to 12 recorded transactions of at least $1 million in January 2023.

In January, the number of recorded sales in Westchester County dropped by 9.8% since January 2023 from 489 to 441. All residential home sales totaled to $479.9 million.

In New York, homes sold at a median of $399,863 during January, up 8.8% from $367,356 in December. There were 8,478 recorded sales across the state during January, down 14.6% from 9,923 recorded sales in January 2023.

The total value of recorded residential home sales in New York increased by 8.6% from $5.7 billion in December to $6.2 billion this January.

Out of all residential home sales in New York, 14.12% of homes sold for at least $1 million in January, up from 12.45% in January 2023.

Sales prices of single-family homes across New York increased by 6.8% from a median of $327,631 in December to $349,990 in January. Since January 2023, the sale price of single-family homes across the state was down 12.5% from $400,000.

Across the state, the sale price of condominiums and townhomes rose 0.5% from a median of $510,266 in December to $512,779 during January. The median sale price of condominiums and townhomes is down 2.5% from the median of $525,766 in January 2023.

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.