If you’ve been following the local real estate market or actively participating, you already know that things are moving at lightning speed. The lower Westchester market is as competitive as ever, with homes consistently drawing multiple offers and selling for well over the asking price.

WHAT’S HAPPENING?

• Bidding Wars Are the Norm: Almost every well-priced home is seeing multiple offers, often within days of hitting the market.
• Skyrocketing Prices: Final sale prices are regularly 20-30% over list price, as eager buyers compete for limited inventory.
• Low Inventory, High Demand: With fewer homes available, buyers are making aggressive offers, often waiving contingencies to stand out.
• Cash Buyers & Fast Closings: Many buyers are coming in with strong cash offers or pre-approvals, ready to close quickly.

WHY IS THIS HAPPENING?

1. Strong Buyer Demand: Families and professionals are drawn to Westchester’s great schools, suburban lifestyle, and proximity to NYC
2. Limited Inventory: Homeowners who might have sold are holding onto their low mortgage rates, keeping supply tight
3. Competitive Interest Rates: While mortgage rates remain higher than pandemic lows, buyers are adjusting and still eager to buy

WHAT IT MEANS FOR YOU

• Sellers: Now is an incredible time to list. A well-priced, well-presented home can generate multiple offers and sell well above asking.
• Buyers: Be prepared. Get pre-approved, work with The Linda Filby Team, and be ready to move fast when you find the right home.

BOTTOM LINE

Westchester is a seller’s market, and competition is fierce. If you’re thinking about buying or selling, now is the time to strategize with a knowledgeable real estate professional. Have questions or need guidance? Feel free to reach out!