WESTCHESTEROverview- Listing inventory fell to lowest first quarter total in four years.- Current supply is just below the 10-year average.- While sales are up, contract volume surged above year ago levels.- Overall price indicators were mixed indicating stability.Key Trend Metrics (compared to same year ago period)- Median sales price rose 2.6% to $390,000.
- Average sales price slipped 2.5% to $521,595.
- Number of sales increased 5.6% to 1,348.
- Listing inventory fell 17.5% to 5,587 units.
- Days on market was 220 days, up 3.8%
- Listing discount was 10%, down from 12.5%.- Monthly absorption rate was 12.4 months, down from 15.9 months.
By Property Type1 Family Market
- Median sales price was $515,000, up 1%.
- Number of sales increased 2.8% to 776.2-4 Family Market
- Median sales price was $350,000, up 6.9%.
- Number of sales rose 5.6% to 76.Co-op Market- Median sales price was $140,000, down 3.1%.
- Number of sales increased 8% to 283.Condo Market
- Median sales price was $310,000, down 0.8%.
- Number of sales increased 13.3% to 213.Luxury Market (upper 10% of all 1 family sales)
- Median sales price was $1,793,750, down 16.1%.
- The luxury threshold was $1,260,000.