A More Balanced Market: Westchester Real Estate Finds Equilibrium (Especially in Chappaqua)
The Westchester real estate market has been on a roller-coaster ride since the pandemic began—initially tipped heavily in sellers’ favor, with ultra-low inventory and bidding wars—but now, by mid-2025, subtle signs point toward greater balance. Buyers are gaining ground.
Post-Pandemic: From Frenzied Sellers’ Market to Gradual Equilibrium
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According to HGAR’s June 2025 report, Westchester County remained an active seller’s terrain with only 2.7 months of inventory, far below the 6–9 months considered balanced. Still, the Bronx—and to some extent Rockland and Putnam—started exhibiting more balanced conditions, giving buyers more negotiating leverage (hgar.com).
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By July 2025, HGAR noted that while Westchester was still leaning seller-favored (inventory at roughly 2.5 months), the market was showing signs of moderation—with stable prices, a slight uptick in inventory, and buyers beginning to find more negotiating room (realestateindepth.com).
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Compass Q1 2025 data reinforces the trend: sales transactions rose ~9%, sales volume increased ~14%, and median prices climbed ~4.1%. Yet critically, average days on market rose almost 35%, signaling that homes are staying listed longer—giving buyers a bit more time to act smartly (amiepisanorealestate.com).
Chappaqua: A Microcosm of the Shift
In Chappaqua, real estate dynamics offer a telling glimpse of this emerging equilibrium:
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As of August 2025, the average days on market hit about 20 days—a noticeable increase, showing homes aren’t flying off the market quite as fast (williampitt.com).
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Inventory climbed significantly—monthly supply rose over 64% year-over-year, hinting at more choices for buyers (hgar.com).
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Properties still sell close to or above asking—but the increasing days on market and rising supply suggest slight softening, enabling buyers to negotiate more confidently.
The Big Picture: Why Balance Is Emerging Now
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Rising Inventory – Though still relatively low, supply is slowly increasing. HGAR shows slight gains, and Chappaqua’s local figures echo the trend (hgar.com).
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Homes Sell More Strategically – With prices stabilizing and more listings available, sellers need to price accurately and present well—buyers are less pressured to bid frantically.
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Longer Market Exposure – Homes are lingering longer on market; Compass notes a sizable increase in days on market, giving buyers more breathing room (aryarabinovits.com).
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Suburban Shifts Paying Off – Areas like Chappaqua are benefiting from increased inventory and buyer options—reflecting broader suburban market normalization.
Snapshot Summary
| Aspect | Pre-Pandemic / Early Pandemic | Mid-2025 (Now) |
|---|---|---|
| Inventory (Westchester) | ~2–3 months (strong seller’s market) | Still low (~2.5–2.7 months), but rising slowly |
| Inventory (Chappaqua) | Lower supply | Increased ~64% year-over-year in monthly supply |
| Days on Market | Very short (hyper-competitive) | Longer (e.g., Chappaqua ~20 days; County avg rising) |
| Price Trends | Steady increases, multiple offers common | Moderate growth; pricing more realistic |
| Buyer Leverage | Minimal | Improving, especially in select segments |
Final Thoughts
While the Westchester real estate market hasn’t shifted fully into buyers’ territory, as of mid-2025, it is noticeably more balanced than at any time in the post-pandemic surge. Inventory is slowly rising, homes are lingering longer, and days on market are increasing—especially in Chappaqua, where these trends are especially pronounced.
Buyers now can somewhat pace themselves—though in highly desirable or move-in ready areas, competition remains. Sellers, meanwhile, benefit from continued demand—but must be strategic about pricing and presentation to stand out in this evolving equilibrium.
Relevant links
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HGAR June report (inventory & supply data) (aryarabinovits.com, amiepisanorealestate.com, hgar.com)
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HGAR July recap showing signs of balance (realestateindepth.com)
