This year the number of land sales completed in Westchester and Putnam counties is up 20% from last year, how will this affect the market?

A 20% increase in land sales in Westchester and Putnam counties signals strong demand, which could have several effects on the market moving forward:

1. Higher Land Prices – Increased demand and limited inventory will likely push land prices up, especially for well-located parcels with infrastructure access.

2. Scarcity of Prime Land – With more sales closing, the best parcels (those with utilities, good zoning, and development potential) are becoming harder to find. This could shift interest toward less conventional sites or redevelopment opportunities.

3. Increased Development Activity – More land transactions typically lead to a rise in new construction. Developers who secured land at lower prices earlier may start building, while those buying now will have to price projects higher to maintain margins.

4. Tighter Inventory for Buyers – Buyers seeking land for custom homes or investment may face stiffer competition. This could make negotiation tougher and increase interest in off-market deals or creative financing solutions.

5. Zoning & Municipal Impacts – With more land being developed, towns may start adjusting zoning laws or increasing regulations to manage growth. This could mean longer approval times for subdivisions or infrastructure improvements.