Westchester real estate market continues to be strong

Q1 2019 Westchester Real Estate Market Continues to be strong

The good news is overall Westchester real estate market continues to be strong in the first quarter of 2019. There are 16 school districts in a Seller’s market, only 8 school districts in a Buyer’s Market and the rest are in a balanced market. Overall, the Westchester real estate market continues to be strong.

How can you tell if you are in a buyer’s or seller’s market? A good indicator is the Months Supply of Homes for Sale, which is computed as the number of homes currently for sale divided by the average number of homes sold. A balanced market usually has 5-6 Months Supply of Homes for Sale, a Buyer’s market has more than 6 Months Supply of Homes for Sale and a Seller’s market has less than 5 Months Supply of Homes for Sale. We know most Westchester buyers search by school district. To make it easy for you, we looked at the Months Supply of Homes for Sale and Days on Market of the Westchester School districts to determine whether those school districts were in a Buyer’s market or a Seller’s market. The data below is based on 1st Quarter 2019 home sales data and Niche 2019 Best School Districts in Westchester. We will be updating this report every quarter.

Westchester School Districts in a Buyer’s Market

These are the Westchester School districts in a Buyer’s market. As you can see in the table below, the homes in these districts have more homes for sale than being sold (Months Supply of Homes for Sale is high) and it is taking longer to sell homes in these markets (Days on Market is high).

If you are a buyer in these school districts then you are in luck. You have the upper hand and can negotiate on prices. While if you are trying to sell your home in these markets, then you really should be realistic with your pricing otherwise your home will sit on the market for a long time.

  • Scarsdale Union Free School District
  • Bronxville Union Free School District
  • Byram Hill Central School District
  • Katonah Lewisboro Union Free School District
  • Bedford Central School District
  • North Salem Central School District
  • Harrison Central School District
  • Rye City School District
  • Chappaqua Central School District

Westchester School Districts in a Seller’s Market

These are the Westchester School districts in a Seller’s market. As you can see in the table below, there are not enough homes in the market for sale in these districts (Months Supply of Homes for Sale is low) and homes are selling fast (Days on Market is low).

If you are a buyer in these school districts then you are probably chasing after the same homes that a lot of potential buyers are looking at. You are likely in a competitive market with bidding wars. While if you are a seller thinking of selling your home in these school districts then you are in luck. You have the upper hand. If you price your home right, you can have a multiple offer situation and selling your home will be quick.

  • Rye Neck Union Free School District
  • Briarcliff Manor Union Free School District
  • Hastings-on Hudson Union Free School District
  • Pelham Union Free School District
  • Ardsley Union Free School District
  • Pleasantville Union Free School District
  • Yorktown Central School District
  • Eastchester Union Free School District
  • White Plains City School District
  • Union Free School District of the Tarrytowns
  • Tuckahoe Union Free School District
  • Hendrick Hudson Central School District
  • Dobbs Ferry Union Free School District
  • Lakeland Central School District
  • Mount Pleasant Central School District
  • Somers Central School District

Westchester School Districts in a Balanced Market

These school districts are in a balanced market.

  • Edgemont Union Free School District
  • Blind Brook- Rye Union Free School District
  • Irvington Union Free School District
  • Croton-Harmon Union Free School District

Q1 2019 Westchester School Districts Real Estate Metrics

School District
Niche 2019 Best School Districts in Westchester County Ranking Months Supply of Homes for SaleDays on Market (Median)Median Sales Price (Single Family Homes, Condos and Coops)Median Sales Price (Single Family Homes)
Edgemont Union Free School District1578$482,500$1,115,000
Scarsdale Union Free School District27.586$1,101,500$1,125,000
Rye Neck Union Free School District34.6118$643,750$696,000
Briarcliff Manor Union Free School District43.378$775,500$793,500
Rye City School District57.950$829,500$1,312,500
Chappaqua Central School District66.755$760,000$840,000
Bronxville Union Free School District710.325$1,230,000$1,726,000
Hastings-on Hudson Union Free School District83.559$610,000$767,500
Mamaroneck Union Free School District93.538$661,500$995,500
Byram Hills Central School District107.582$982,500$982,500
Katonah Lewisboro Union Free School District117.163$589,750$594,500
Pelham Union Free School District124.685$620,000$829,500
Ardsley Union Free School District134.246$728,500$728,500
Blind Brook-Rye Union Free School District145.022$1,144,500$1,249,000
Pleasantville Union Free School District153.885$491,750$723,700
Bedford Central School District167.464$500,000$712,000
Yorktown Central School District172.847$509,500$514,500
Croton-Harmon Union Free School District185.584$518,000$515,955
Irvington Union Free School District195.788$395,000$889,000
Eastchester Union Free School District202.856$463,000$686,000
North Salem Central School District219.180$535,000$535,000
Harrison Central School District227.371$1,110,000$1,320,000
Tuckahoe Union Free School District234.983$525,000$614,750
White Plains City School District243.466$397,950$640,000
Somers Central School District254.780$457,500$505,000
Union Free School District of the Tarrytowns264.182$391,500$625,000
Hendrick Hudson Central School District274.170$475,000$484,200
Dobbs Ferry Union Free School District283.763$800,750$682,000
Lakeland Central School District293.446$325,000$368,000
Mount Pleasant Central School District303.548$572,500$641,250
Source: Niche 2019 Best School Districts in Westchester County and HGMLS

Source: Niche 2019 Best School Districts in Westchester County and HGMLS

You may also be interested in:

Thinking of Living in Westchester County, NY?

Which Westchester School Districts Provide School Bus Transportation?

Private School versus Public School

Mom-to-Be Jamie Robinson’s Move to Scarsdale, NY

How long are the waitlists for Fairfield County’s Metro-North train station parking? 

Follow us on InstagramFacebook and subscribe to our Monthly Newsletter.