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.
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.
- 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
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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 Sale | Days 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 District | 1 | 6.7 | 32 | $946,250 | $1,100,000 | 37 Minutes from Hartsdale Station |
| Scarsdale Union Free School District | 2 | 10 | 49 | $1,327,500 | $1,390,000 | 34 Minutes from Scarsdale Station |
| Rye Neck Union Free School District | 3 | 5.8 | 65 | $914,500 | $1,045,000 | 45 Minutes from Mamaroneck Station |
| Briarcliff Manor Union Free School District | 4 | 8.3 | 42 | $850,000 | $925,000 | 52 Minutes from Scarborough Station |
| Rye City School District | 5 | 10 | 57 | $1,438,500 | $1,760,000 | 42 Minutes from Rye Station |
| Chappaqua Central School District | 6 | 9.0 | 42 | $826,500 | $850,000 | 53 Minutes from Chappaqua Station |
| Bronxville Union Free School District | 7 | 8.7 | 60 | $1,317,500 | $1,760,250 | 31 Minutes from Bronxville Station |
| Hastings-on Hudson Union Free School District | 8 | 6.1 | 44 | $740,000 | $880,000 | 39 Minutes from Hastings-On-Hudson Station |
| Mamaroneck Union Free School District | 9 | 4.4 | 33 | $950,000 | $1,240,000 | 45 Minutes from Mamaroneck Station |
| Byram Hills Central School District | 10 | 11.5 | 53 | $968,000 | $970,250 | 43 Minutes from North White Plains Station |
| Katonah Lewisboro Union Free School District | 11 | 9.7 | 45 | $591,750 | $635,000 | 71 Minutes from Katonah Station |
| Pelham Union Free School District | 12 | 6.1 | 35 | $827,500 | $912,000 | 33 Minutes from Pelham Station |
| Ardsley Union Free School District | 13 | 6.4 | 36 | $750,000 | $742,625 | 34 Minutes from Scarsdale Station |
| Blind Brook-Rye Union Free School District | 14 | 6.6 | 37 | $923,750 | $927,500 | 45 Minutes from Port Chester Station |
| Pleasantville Union Free School District | 15 | 5.3 | 47 | $675,000 | $750,000 | 55 Minutes from Pleasantville Station |
| Bedford Central School District | 16 | 10.3 | 58 | $660,000 | $815,000 | 67 Minutes from Bedford Hills Station |
| Yorktown Central School District | 17 | 4.2 | 52 | $525,000 | $525,000 | 59 Minutes from Mt. Kisco Station |
| Croton-Harmon Union Free School District | 18 | 6.7 | 41 | $618,000 | $601,500 | 53 Minutes from Croton-Harmon Station |
| Irvington Union Free School District | 19 | 8.5 | 55 | $794,500 | $958,250 | 45 Minutes from Irvington Station |
| Eastchester Union Free School District | 20 | 3.4 | 31 | $432,000 | $836,533 | 36 Minutes from Crestwood Train Station |
| North Salem Central School District | 21 | 11.4 | 90 | $526,500 | $526,500 | 78 Minutes from Purdy's Station |
| Harrison Central School District | 22 | 9.3 | 67 | $990,000 | $1,233,000 | 48 Minutes from Harrison Station |
| Tuckahoe Union Free School District | 23 | 6.6 | 46 | $545,625 | $870,000 | 34 Minutes from Tuckahoe Station |
| White Plains City School District | 24 | 4.4 | 42 | $387,000 | $720,000 | 39 Minutes from White Plains Station |
| Somers Central School District | 25 | 5.6 | 52 | $455,000 | $605,000 | 74 Minutes from Goldens Bridge Station |
| Union Free School District of the Tarrytowns | 26 | 4.1 | 38 | $543,000 | $720,000 | 40 Minutes from Tarrytown Station |
| Hendrick Hudson Central School District | 27 | 5.1 | 58 | $499,000 | $535,000 | 60 Minutes from Cortlandt Station |
| Dobbs Ferry Union Free School District | 28 | 5.4 | 51 | $906,500 | $950,000 | 41 Minutes from Dobbs Ferry Station |
| Lakeland Central School District | 29 | 4.0 | 37 | $358,750 | $400,000 | 60 Minutes from Cortlandt Station |
| Mount Pleasant Central School District | 30 | 5.7 | 36 | $575,000 | $579,999 | 51 Minutes from Hawthorne Station |
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