White Plains NY Home Sales Remain Strong!

White Plains NY Home Sales Remain Strong!

The White Plains NY real estate market has been one of the most consistent in Westchester this past year.  Even in months where we see a slow down, White Plains single family home, condo, and coop sales remained strong.  

The City itself is constantly evolving and looking for ways to improve the home owner experience for those moving from New York City and its current residents.  Over the years we have seen a lot of change.  Restaurants and big-box retailers have come and gone but now we have a bit more stability amongst them.  

Now, with talks about a new development on the Westchester Pavillion Mall property, downtown will only get better.  I remember what White Plains was like in the 80's and 90's, when we only had Galleria and Mamaroneck Ave was a far cry from what it is now.  

With rapid growth comes new opportunities for all.  The housing market will only continue to strengthen and White Plains will hopefully continue to be the go-to place for anyone looking to experience NYC outside of the City.

Sales

There were 18 single family home sales in October. This is down 5.3% from 19 in October of 2014. This is the lowest unit sales have been since 7 in April, 2015. Sales/list price ratio in October moved down to 98.3% from 99.2% in September.

Prices

Median price in October was $559,000. This is down 8.7% from $612,000 in October of 2014. 3-month median price of $667,000 in October was up just slightly from $642,500 in September and up a little from $587,000 in October of 2014. Price per square foot in October was $325. This is up from $294 in September and up from $291 in October of 2014.

Inventory

Inventory of 89 in October was down 9.2% from 98 in September and down 11.0% from 100 in October of 2014. New listings of 20 in October were down slightly from 24 in September and down moderately from 29 in October of 2014. Months of supply of 4.9 in October was down a little from 5.3 in September and down slightly from 5.3 in October of 2014. This is the lowest months of supply has been since March, 2015.

Market Time

Days on market of 74 in October was up substantially from 54 in September and up considerably from 49 in October of 2014. This is the highest days on market has been since May, 2015.