The Westchester Real Estate Market in 2019

The Westchester Real Estate Market in 2019

Happy New Year!!!
The Winter-Spring housing market of 2019 is upon us. As the weeks slide by and we approach the Superbowl, new listings should start trickling in. By Presidents Day we should see a steady flow of Westchester Homes for Sale. By the time the NCAA Tournament Rolls around…we’re in peak season.

New Listings in 2019

I’m asked by most of my clients…How do you see the market shaping up? Short answer: It’s a buyer’s market. Longer Answer: Under a Million dollars it’s a pretty close match….but as the prices rise, the market becomes more and more slanted. For houses priced at 1.5m and above…sellers are in deep trouble…
So here are 3 great tips on getting the best deal this year…
  1. Be realistic. If it's a lower-priced property that’s priced to sell, be aggressive. New listings in top Westchester School districts will still have strong competition. A first bid should be something that has a chance of being accepted or at least countered. On a higher-priced property, “low-ball” the seller, don’t counter and wait for the seller’s panic to set in.

  2. Be willing to do some work. In the last several years the Westchester Real Estate market has seen a trend where buyers only prefer turn-key, or “mint condition” listings. If this trend holds, properties that need new kitchens and bathrooms will trade at a deep discount and reward the buyer with quick, increased equity.

  3. Use an agent that offers a “broker commission rebate“. If your broker can offer you 1% back, then you can effectively avoid the mansion tax on a higher-priced home or help fund your closing costs on a lower-priced home.
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