By Dean Bender, for Houlihan Lawrence

Oct. 18, 2017:   The third quarter saw mixed results for the Westchester real estate market, with some communities, notably Yonkers and White Plains, seeing significant sales growth, while others experiencing declines.

The number of single-family home sales in Westchester declined 5.5 percent, from 2,111 in Q3 of 2016 to 1,995 in Q3 of 2017. The median sale price for single-family homes in Westchester rose 1.8 percent to $680,000. 

The Westchester luxury market ($2 million and higher) remained steady but is showing signs of softening, with a 13.5 percent drop in the number of sales. Yet the median price went up 5 percent, to $2,625,000.

Low inventory in Westchester:  Low inventory, especially for the more affordable "starter homes," continues to be a problem in Westchester. For homes priced under $500,000 in Westchester, there was a 25.1 percent drop in the number of active listings (686 in Q3 2016, compared to 514 in 2017).

Westchester's highest sale of the quarter in Bronxville:  Westchester's highest sale of the quarter was a 1927 brick Georgian at 11 Eastway in Bronxville. This is also the highest sale of the year in Bronxville. Houlihan Lawrence agents handled both sides of the sale, with Susan Kelty Law representing the seller and Sheila Stoltz, the buyer. 

Strong sales numbers in Yonkers and White Plains:  Some areas of Westchester had particularly good sales numbers for this quarter compared to the same period last year. In Yonkers, the number of sales of single-family homes rose 13 percent and in White Plains, they went up 19 percent.

Mixed bag for local school districts:  Certain school districts also had strong numbers, with the number of homes sold going up 13 percent in Ardsley, 14 percent in both Rye City and Eastchester, and 27 percent in Briarcliff Manor. But the numbers of sales dropped 23 percent in Somers, 21 percent in Lakeland, and 19 percent in both the Dobbs Ferry and Katonah-Lewisboro districts.

Condo prices rise:  The Westchester condo market remained steady, with 405 sales recorded this quarter compared to 404 in Q3 of 2016. The median condo sale price in the county rose 4.3 percent, to $385,000. The Westchester co-op market fared better, with the number of sales going up 10.1 percent; the median price rose slightly, to $165,000.

Buyers seeking value in Putnam:  In Putnam, the median price remained steady at $340,000, but overall home sales dropped 11 percent. Low inventory is a problem here, too, with a 15 percent dip in the number of active listings and a 15.8 percent decline in pending sales.

Surge in Poughkeepsie and East Fishkill: In Dutchess, single-family home sales rose 2.5 percent and the median price went up 7 percent, to $269,950. The number of active listings dropped 9.2 percent. Highlights in Dutchess include a 24 percent increase in the number of sales in the Town of Poughkeepsie and an 11 percent rise in East Fishkill.

Pictured here:  Bronxville office of Houlihan Lawrence.

Photo by A. Warner