The Westchester real estate market continues to evolve, driven by high demand, rising interest rates, and shifting buyer preferences. Whether you’re buying or selling, it’s essential to stay informed about these trends and make strategic decisions.

Buying Tips:

• Monitor Interest Rates: Although mortgage rates are higher, Westchester remains attractive due to its strong job market. Buyers need to act quickly but carefully, considering how rising rates impact affordability.

• Shifting Preferences: With remote work increasing, buyers are seeking homes with outdoor spaces and proximity to amenities. Understanding what’s in demand can give you a competitive edge when purchasing.

Selling Tips:

• Leverage Inventory Shortages: Westchester’s limited inventory means many sellers benefit from competitive bidding wars. However, pricing your home accurately is key to maximizing profits.

• Timing & Staging: As with any market, timing your sale during peak periods and presenting a well-maintained property will help attract serious buyers.

• Track New Developments: Residential and commercial developments in Westchester are important to consider, as they can influence property values and future demand.

Both buyers and sellers in Westchester must adapt to a competitive, fast-changing market. By understanding the latest trends—like inventory shortages, buyer preferences, and local economic conditions—you can make informed decisions that benefit your real estate journey

Source:

http://www.homesinwestchester.com/blog-homes/2024/9/24/navigating-current-trends-and-best-practices