Q3-2024
MARKET REPORT
EXECUTIVE SUMMARY
In the third quarter of 2024, the real estate market north of New York City experienced its first notable shift in over three years. After an extended period of dwindling inventory due to high demand, we are now observing an increase in available listings across most of our markets, offering much-needed relief to buyers.
Westchester County has seen an uptick in inventory, with listings increasing by an average of 3% year-over-year. Some areas have experienced inventory rises as high as 22%. The median sale price in Westchester has continued to rise, driven by a resilient buyer pool. The average sale price rose 7% to $1,323,585, and the median sale price reached $999,000, up 8% from the previous year. This demonstrates that demand remains strong even as more options become available.
Putnam County saw an overall increase in inventory of 5%. The median sale price rose significantly to $580,000, a 14% increase, reflecting sustained demand. In contrast, Dutchess County continues to face inventory constraints, although overall sales and prices have risen. The average sale price in Dutchess climbed 15% to $588,319, indicating continued buyer interest despite lower inventory levels.
The luxury market has also shown strong growth, with Westchester County reporting a 24% increase in transactions over $2 million, and Putnam and Dutchess Counties experiencing surges well above 30%. These figures underscore the continued attractiveness of high-end properties in the region, even amidst broader market shifts.
These developments, coupled with indications from the Federal Reserve regarding potential rate cuts, may encourage sellers hesitant to enter the market to reconsider. The opportunity to capitalize on increased inventory and sustained buyer demand could prompt more movement among homeowners, particularly those looking to trade up or down.
Overall, the trends observed in the third quarter of 2024 suggest meaningful changes in the market, marking a shift in a landscape that has remained relatively flat for years. As we move forward, the sustained resilience of the buyer pool, coupled with increasing inventory levels, points towards a dynamic and evolving market environment.
With Warm Regards,
Liz Nunan President and CEO
WESTCHESTER COUNTY
SingleFamilyHomeOverview
NEW YORK CITY GATEWAY
MountVernon,NewRochelle,Pelham,Yonkers
LOWER WESTCHESTER
Bronxville,Eastchester,Edgemont,Scarsdale, Tuckahoe
THE RIVERTOWNS
Ardsley,BriarcliffManor,DobbsFerry,Elmsford, Hastings,Irvington,MountPleasant,Ossining, Pleasantville,PocanticoHills,Tarrytown
GREATER WHITE PLAINS
Greenburgh,Valhalla,WhitePlains
THE SOUND SHORE
BlindBrook,Harrison,Mamaroneck,Port Chester,RyeCity,RyeNeck
TABLE OF CONTENTS
THIRD QUARTER2024
NORTHERN WESTCHESTER
Bedford,ByramHills,Chappaqua,KatonahLewisboro,NorthSalem,Somers
NORTHWEST WESTCHESTER
Croton-Harmon,HendrickHudson,Lakeland, Peekskill,Yorktown
WESTCHESTER COUNTY
CondominiumOverview
WESTCHESTER COUNTY
Co-OperativeOverview
PUTNAM COUNTY
Brewster,Carmel,Garrison,Haldane,Mahopac, PutnamValley
PUTNAM COUNTY
CondominiumOverview
DUTCHESS COUNTY
SingleFamilyHomeOverview
SOUTHEAST DUTCHESS
Beekman,Dover,Pawling,UnionVale
SOUTHWEST DUTCHESS
Beacon,EastFishkill,Fishkill,LaGrange, Poughkeepsie,Poughkeepsie/City,Wappinger
NORTHEAST DUTCHESS
Amenia,NorthEast,PinePlains,Stanford, Washington
NORTHWEST DUTCHESS
Clinton,HydePark,Milan,PleasantValley,Red Hook,Rhinebeck
DUTCHESS COUNTY
CondominiumOverview
WESTCHESTER COUNTY
SINGLE FAMILY HOMES
QUARTERLY MARKET OVERVIEW
SUPPLY DEMAND ANALYSIS
NEW YORK CITY GATEWAY
SINGLE FAMILY HOMES
MEDIAN SALE PRICE
NEW YORK CITY GATEWAY
SINGLE FAMILY HOMES
MOUNT VERNON, NEW ROCHELLE, PELHAM, YONKERS
Click on a School district to obtain the latest monthly market report.
SUPPLY DEMAND ANALYSIS
OF SEPTEMBER 30, 2024
30, 2023
MARKET HISTORY
LOWER WESTCHESTER
SINGLE FAMILY HOMES
HOMES SOLD
MEDIAN SALE PRICE
Source: Onekey MLS, Single-family homes, Zone 6
LOWER WESTCHESTER
SINGLE FAMILY HOMES
BRONXVILLE, EASTCHESTER, EDGEMONT, SCARSDALE, TUCKAHOE
Click on a School district to obtain the latest monthly market report.
SUPPLY DEMAND ANALYSIS
AS OF SEPTEMBER 30, 2024 AS OF SEPTEMBER 30, 2023
MARKET HISTORY
THE RIVERTOWNS
SINGLE FAMILY HOMES
HOMES SOLD
ARDSLEY BRIARCLIFF MANOR DOBBS FERRY ELMSFORD HASTINGS IRVINGTON
THE RIVERTOWNS
SINGLE FAMILY HOMES
ARDSLEY, BRIARCLIFF MANOR, DOBBS FERRY, ELMSFORD, HASTINGS, IRVINGTON, MOUNT PLEASANT OSSINING, PLEASANTVILLE, POCANTICO HILLS, TARRYTOWN Click on a School district to obtain the latest monthly market report.
SUPPLY DEMAND ANALYSIS
OF SEPTEMBER 30, 2024
30, 2023
Source: Onekey MLS, Single-family homes, Zone 3
GREATER WHITE PLAINS
SINGLE
GREATER WHITE PLAINS
SINGLE FAMILY HOMES
GREENBURGH, VALHALLA, WHITE PLAINS
Click on a School district to obtain the latest monthly market report.
SUPPLY DEMAND
ANALYSIS AS OF SEPTEMBER 30, 2024 AS OF SEPTEMBER 30, 2023
MARKET HISTORY
THE SOUND SHORE
SINGLE FAMILY HOMES
HOMES SOLD
MEDIAN SALE PRICE
THE SOUND SHORE
SINGLE FAMILY HOMES
BLIND BROOK, HARRISON, MAMARONECK, PORT CHESTER, RYE CITY, RYE NECK Click on a School district to obtain the latest monthly market report.
SUPPLY DEMAND
ANALYSIS AS OF SEPTEMBER 30, 2024
30, 2023
MARKET HISTORY
NORTHERN WESTCHESTER
SINGLE FAMILY HOMES
HOMES SOLD
MEDIAN SALE PRICE
NORTHERN WESTCHESTER
SINGLE FAMILY HOMES
BEDFORD, BYRAM HILLS, CHAPPAQUA, KATONAH-LEWISBORO, NORTH SALEM, SOMERS
Click on a School district to obtain the latest monthly market report.
SUPPLY DEMAND ANALYSIS
AS OF SEPTEMBER 30, 2024
OF SEPTEMBER 30, 2023
MARKET HISTORY
NORTHWEST WESTCHESTER
SINGLE FAMILY HOMES
HOMES
SOLD
CLICK ON A SCHOOL DISTRICT FOR THE LATEST MONTHLY MARKET REPORT. CROTON–HARMON
MEDIAN SALE PRICE
NORTHWEST WESTCHESTER
SINGLE FAMILY HOMES
CROTON–HARMON, HENDRICK HUDSON, LAKELAND, PEEKSKILL, YORKTOWN
Click on a School district to obtain the latest monthly market report.
SUPPLY DEMAND ANALYSIS AS OF SEPTEMBER 30, 2024
SEPTEMBER 30, 2023
MARKET HISTORY
WESTCHESTER COUNTY CONDOMINIUMS
QUARTERLY MARKET OVERVIEW
SUPPLY DEMAND ANALYSIS
Source: Onekey MLS, Condominiums
WESTCHESTER COUNTY
QUARTERLY MARKET OVERVIEW
SUPPLY DEMAND ANALYSIS
PUTNAM COUNTY
SINGLE FAMILY HOMES
HOMES
PUTNAM COUNTY
SINGLE FAMILY HOMES
BREWSTER, CARMEL, GARRISON, HALDANE, LAKELAND, MAHOPAC, PUTNAM VALLEY Click on a School district to obtain the latest monthly market report.
SUPPLY DEMAND
ANALYSIS
AS OF SEPTEMBER 30, 2024
OF SEPTEMBER 30, 2023
MARKET HISTORY
PUTNAM COUNTY CONDOMINIUMS
QUARTERLY MARKET OVERVIEW
SUPPLY DEMAND ANALYSIS
DUTCHESS COUNTY
SINGLE FAMILY HOMES
QUARTERLY MARKET OVERVIEW
SUPPLY DEMAND ANALYSIS
SOUTHWEST DUTCHESS
SINGLE FAMILY HOMES
SOUTHWEST DUTCHESS
SINGLE FAMILY HOMES
BEACON, EAST FISHKILL, FISHKILL, LA GRANGE, POUGHKEEPSIE TWP, POUGHKEEPSIE CITY, WAPPINGER
Click to obtain a specific town/city monthly market report.
SUPPLY DEMAND ANALYSIS
OF SEPTEMBER 30, 2024
TEN-YEAR MARKET HISTORY
SOUTHEAST DUTCHESS
SINGLE FAMILY HOMES
HOMES SOLD
Source: Onekey MLS.
MEDIAN SALE PRICE
SOUTHEAST DUTCHESS
SINGLE FAMILY HOMES
BEEKMAN, DOVER, PAWLING, UNION VALE
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SUPPLY DEMAND ANALYSIS
AS OF SEPTEMBER 30, 2024 AS OF SEPTEMBER 30, 2023
MARKET HISTORY
NORTHWEST DUTCHESS
SINGLE FAMILY HOMES
HOMES SOLD
Source: Onekey MLS.
CLICK TO OBTAIN A SPECIFIC TOWN/CITY MONTHLY MARKET REPORT.
NORTHWEST DUTCHESS
SINGLE FAMILY HOMES
CLINTON, HYDE PARK, MILAN, PLEASANT VALLEY, RED HOOK, RHINEBECK
Click to obtain a specific town/city monthly market report.
SUPPLY DEMAND ANALYSIS AS OF SEPTEMBER 30, 2024 AS OF SEPTEMBER 30, 2023
MARKET HISTORY
NORTHEAST DUTCHESS
SINGLE FAMILY HOMES
HOMES SOLD
TO OBTAIN A SPECIFIC TOWN/CITY MONTHLY MARKET REPORT.
Source: Onekey MLS.
MEDIAN SALE
PRICE
NORTHEAST DUTCHESS
SINGLE FAMILY HOMES
AMENIA, NORTH EAST, PINE PLAINS, STANFORD, WASHINGTON
Click to obtain a specific town/city monthly market report.
SUPPLY DEMAND ANALYSIS AS OF SEPTEMBER 30, 2024
30, 2023
MARKET HISTORY
DUTCHESS COUNTY
CONDOMINIUMS
QUARTERLY MARKET OVERVIEW
SUPPLY DEMAND ANALYSIS
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