Westchester County”™s single-family housing market barely escaped the COVID-19 chaos at the end of the first quarter with year-over-year increases in sales and prices, according to new data from Douglas Elliman Real Estate.
The complete Westchester market ”“ consisting of single-family, condominium, co-op and two-to-four family properties ”“ recorded an average sales price of $611,026, down from $616,053 in the fourth quarter of 2019 and up from the $556,579 price in the first quarter of 2019.
For the single-family market, Westchester”™s first quarter average sales price of $790,691 was down from the $796,109 price in the fourth quarter, but was up from the $755,318 price set one year earlier.
The median sales price of $639,900 was up from the $615,000 price in the previous quarter and the $600,000 level set in the first quarter of 2019. The first quarter”™s 1,063 closed sales were down from the fourth quarter”™s 1,403 transactions but was higher than the 989 closed sales from one year earlier.
In the county”™s luxury housing sector ”“ defined as 10% of the single-family sales prices ”“ the first quarter”™s average sales price of $2.14 million was down from the $2.29 million in the fourth quarter but higher than the $2.04 million from the first quarter of 2019.
The median sales price of $1.89 million was up from the previous quarter”™s $1.80 million and the $1.78 million set one year earlier. The first quarter”™s 108 closed sales were down from the 143 transactions in the previous quarter but higher than the 99 deals closed one year earlier.
Douglas Elliman also took a look at the combined Putnam and Dutchess counties’ market for single-family and condominium sales. During the first quarter, the average sales price of $361,795 was down from the fourth quarter”™s $373,900 and up from the $329,841 price in the first quarter of 2019.
The median sales price of $327,500 was down from the previous quarter”™s $335,000 and slightly up from the $325,000 price set one year earlier. The first quarter saw 248 closed sales, a drop from the 307 transactions in the previous quarter but a rise from 222 transactions that closed one year ago.