Each quarter, Houlihan Lawrence issues a Market Report , which analyzes the real estate sales and industry for the area. I will share my thoughts about the most recent report, focusing on the Northern Westchester Market. After looking at the data, I feel that the market is, for the most part, nearly identical to last year at this time.
Year to date, Houlihan Lawrence owns 54% of the market share, which dominates the market high above the competition. That fact alone shows how much Houlihan Lawrence understands the market in Westchester County and should be a huge factor when looking to buy or sell.
In the Byram Hills School District, the report states there was a 9% increase in sales in the second quarter. While that number can seem significant, it’s really 3 more houses sold during the same time last year. Also, looking at sales from year to date, it is down 13%… a difference of 8 houses. We are on trend to sell less houses in Byram Hills while inventory remains the same.
In this area, we see a high inventory of luxury sales, which causes the market to soften a bit at this time. Because inventory is high, buyers can be meticulous on their purchase, since they have a bigger selection.
To talk more about the market and Northern Westchester, contact me today.