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Will Westchester home sales get better or worst in 2025?

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Real Estate Agent with Coldwell Banker Realty/Coldwell Banker Commercial NRT 30SA0872839 

Will Westchester home sales get better or worst in 2025?

The residential real estate market in Westchester County is projected to experience significant growth in 2025. Key factors influencing this outlook include:

Market Growth

  • Sales Increase: Experts anticipate a 15% growth in home sales for 2025, building on the momentum from 2024.

  • Strong Spring Season: The spring selling season of 2025 is expected to be the most active in a decade, indicating robust buyer interest.

Buyer Demand

  • Millennial Buyers: With approximately 45.5 million individuals at the average first-time homebuyer age of 35, a substantial influx of millennial buyers is anticipated.

  • High Rents Driving Purchases: Elevated rental costs are motivating more individuals to consider homeownership, further boosting demand.

Inventory and Pricing

  • Inventory Levels: While there has been a recent increase in available homes, inventory remains relatively low, contributing to sustained competition among buyers.

  • Price Appreciation: Home prices in Westchester County have been rising, with a 5.9% increase over the past year, and this trend is expected to continue into 2025.

Mortgage Rates

  • Stabilizing Rates: After a period of high mortgage rates, forecasts suggest a decline to below 6% by mid-2024, potentially enhancing affordability and encouraging more buyers to enter the market.

Economic and Policy Factors

  • Tax Policies and Infrastructure Funding: Recent election outcomes have provided clarity on tax policies and infrastructure funding, contributing to a more stable real estate environment.

  • Development Projects: Significant residential developments, particularly in areas like Yonkers, are expected to add thousands of homes to the market, potentially impacting supply and demand dynamics.

In summary, the Westchester County residential real estate market is poised for a strong performance in 2025, characterized by increased sales activity, sustained buyer demand, and continued price appreciation.

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Richard Weeks
Dallas, TX
REALTOR®, Broker
Great information, thanks for sharing.  I hope you have a great day.
Jan 14, 2025 04:27 AM
Thomas Santore Lic Associate Real Estate Broker

Thank you,

Tom S

Jan 14, 2025 06:11 AM