westchester real estate buyer's market

Good Time to Buy in Westchester! Westchester Real Estate Buyer’s Market

It’s a good time to buy in Westchester! Westchester real estate market has turned into a buyer’s market. Compared to Q1 2019, there are now more school districts in Westchester in a buyer’s market than a seller’s market. There are only 6 school districts in a Seller’s market (versus 16 school districts in Q1 2019) and 16 school districts in a Buyer’s Market (versus 8 school districts in Q1 2019) and the rest are in a balanced market.

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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 districts. 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 2nd 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 higher). The Months Supply of Homes for Ardsley, Blind Brook, Tuckahoe, Edgemont and Croton-Harmon are in the mid-6 range which tips towards a balanced market.

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.

One thing to note is this gives a general overview of the real estate market. There may be desirable neighborhoods within each school districts that are experiencing a seller’s market.

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  • Edgemont Union Free School District
  • Croton-Harmon Union Free School District
  • Briarcliff Manor Union Free School District
  • Irvington Union Free School District
  • Bronxville Union Free School District
  • Chappaqua Central School District
  • Harrison Central School District
  • Katonah Lewisboro Union Free School District
  • Scarsdale Union Free School District
  • Rye City School District
  • Byram Hill Central School District
  • Bedford Central School District
  • North Salem Central School District
  • Ardsley Union Free School District
  • Blind Brook- Rye Union Free School District
  • Tuckahoe Union Free 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.

  • Eastchester Union Free School District
  • Lakeland Central School District
  • Union Free School District of the Tarrytowns
  • Yorktown Central School District
  • Mamaroneck Union Free School District
  • White Plains City School District

Westchester School Districts in a Balanced Market

These school districts are in a balanced market.

  • Hendrick Hudson Central School District
  • Dobbs Ferry Union Free School District
  • Pleasantville Union Free School District
  • Somers Central School District
  • Mount Pleasant Central School District
  • Rye Neck Union Free School District
  • Hastings-on Hudson Union Free School District
  • Pelham Union Free School District

Q2 2019 Westchester School Districts Real Estate Metrics with Commute

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)Metro North Train to Midtown Manhattan
(Minutes)
Edgemont Union Free School District16.732$946,250$1,100,00037 Minutes from Hartsdale Station
Scarsdale Union Free School District21049$1,327,500$1,390,00034 Minutes from Scarsdale Station
Rye Neck Union Free School District35.865$914,500$1,045,00045 Minutes from Mamaroneck Station
Briarcliff Manor Union Free School District48.342$850,000$925,00052 Minutes from Scarborough Station
Rye City School District51057$1,438,500$1,760,00042 Minutes from Rye Station
Chappaqua Central School District69.042$826,500$850,00053 Minutes from Chappaqua Station
Bronxville Union Free School District78.760$1,317,500$1,760,25031 Minutes from Bronxville Station
Hastings-on Hudson Union Free School District86.144$740,000$880,00039 Minutes from Hastings-On-Hudson Station
Mamaroneck Union Free School District94.433$950,000$1,240,00045 Minutes from Mamaroneck Station
Byram Hills Central School District1011.553$968,000$970,25043 Minutes from North White Plains Station
Katonah Lewisboro Union Free School District119.745$591,750$635,00071 Minutes from Katonah Station
Pelham Union Free School District126.135$827,500$912,00033 Minutes from Pelham Station
Ardsley Union Free School District136.436$750,000$742,62534 Minutes from Scarsdale Station
Blind Brook-Rye Union Free School District146.637$923,750$927,50045 Minutes from Port Chester Station
Pleasantville Union Free School District155.347$675,000$750,00055 Minutes from Pleasantville Station
Bedford Central School District1610.358$660,000$815,00067 Minutes from Bedford Hills Station
Yorktown Central School District174.252$525,000$525,00059 Minutes from Mt. Kisco Station
Croton-Harmon Union Free School District186.741$618,000$601,50053 Minutes from Croton-Harmon Station
Irvington Union Free School District198.555$794,500$958,25045 Minutes from Irvington Station
Eastchester Union Free School District203.431$432,000$836,53336 Minutes from Crestwood Train Station
North Salem Central School District2111.490$526,500$526,50078 Minutes from Purdy's Station
Harrison Central School District229.367$990,000$1,233,00048 Minutes from Harrison Station
Tuckahoe Union Free School District236.646$545,625$870,00034 Minutes from Tuckahoe Station
White Plains City School District244.442$387,000$720,00039 Minutes from White Plains Station
Somers Central School District255.652$455,000$605,00074 Minutes from Goldens Bridge Station
Union Free School District of the Tarrytowns264.138$543,000$720,00040 Minutes from Tarrytown Station
Hendrick Hudson Central School District275.158$499,000$535,00060 Minutes from Cortlandt Station
Dobbs Ferry Union Free School District285.451$906,500$950,00041 Minutes from Dobbs Ferry Station
Lakeland Central School District294.037$358,750$400,00060 Minutes from Cortlandt Station
Mount Pleasant Central School District305.736$575,000$579,99951 Minutes from Hawthorne Station
Source: Niche 2019 Best School Districts in Westchester County and HGMLS

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