Lead Stories, News

HGAR touts Westchester’s housing market

by Custom Author

Sales of homes in Westchester County continued booming in 2021. The flourishing sales in the county is leading to thriving statistics across the Hudson Valley with  numbers higher than compared to the past three years according to Hudson Gateway Association of Realtors, HGAR.

“We have long known that  Westchester County is a desirable place to live,” Westchester County Executive George Latimer said. “No one is fleeing Westchester
County–and anyone who says that is just pushing rhetoric. We have urban, suburban and even rural settings; we have an excellent mass transit system and a top class educational system. Business, small and large, is booming here in Westchester and our housing market reflects all of this and more.”

According to HGAR, Quarter No. 2 of 2021 continued the trends seen in the first quarter—strong buyer demand and low inventory in most market segments, coupled with low interest rates, drove multiple offers for above asking price on many properties.
• Single-family median sales price increased 17.7% to $835,500.
– Compared to $710,000 in second-quarter 2020 and $702,500 in the same period of 2019.
– In May, the National Association of REALTORS reported that the median sales price of existing homes rose by 24% more than the previous year—the highest
increase since 1999.
• Single-Family closed sales were up 54.4% to 1,828.
• Condos closed sales were up 95.6% to 401.
• Co-ops closed sales were up 47.1% to 509.
• Condos median sales price increased 3.8% to $405,000.
• Co-ops median sales price held steady at $190,000.

HGAR CEO and President Richard Haggerty said: “Residential home sales in Westchester County for the second quarter of 2021 continued a remarkable
recovery from the depths of the Covid-19 crisis a year ago, with strong gains both in the number of sales as well as increased median sales prices, and at this juncture these trends show no signs of abating,” said Richard Haggerty, president and CEO of HGAR. For information on programs to assist with homeownership, visit https://homes.westchestergov.com/homeownership. (Submitted)