3 Things you Must Know About Buying a Home in Westchester County this Fall

Here are 3 key things to know about buying a home in Westchester County this fall:

1. Low Inventory, High Competition

The housing inventory in Westchester continues to be low, especially for single-family homes. Buyers are facing stiff competition, often leading to bidding wars. Be prepared to act quickly, have your financing in order, and consider offering above the asking price if you want to stand out.

2. Interest Rate Environment

Interest rates have remained elevated compared to recent years, making it crucial to lock in a good mortgage rate. Higher rates may reduce your purchasing power, so keep an eye on potential changes in federal policies that could impact rates this fall.

3. Neighborhood-Specific Market Trends

Westchester County is diverse, with different areas experiencing different market dynamics. Some neighborhoods are seeing significant price appreciation, while others may offer more opportunities for deals. Research or work with a local real estate expert to understand which areas align with your budget and preferences, especially as fall can bring new listings but also a rush to close deals before the winter.