04/12/2018
JUST RELEASED 2018 1st Quarter Elliman Market Report for Westchester, Putnam, and Dutchess Counties
The region is still seeing heavy sales volume although it looks like Westchester sales volume is peaking. Sales volume remains high but is no longer rising. Inventory remains very tight and may be restraining additional sales. Price trends continue to rise but less so at the top of the market. The region shows most strength in the entry and mid-markets.
After a five-year window of significant growth, Westchester County sales activity appears to have peaked with the third consecutive quarter of year over year declines. Westchester had the second most first-quarter countrywide sales in 13 years and the lowest first-quarter countrywide inventory in 16 years. This was the fourth consecutive year over year increase in countywide median sales price.
Further north in Putnam County, price trend indicators continued to rise across the region, and median sales price rose for the fourth consecutive quarter. After four quarterly declines, the number of sales rose year over year.
Dutchess County had the second most first-quarter sales since 1996, and overall market price trend indicators moved higher.
