Bizzarro's April 2024 Market Update | Westchester's Soaring Prices & Quick Sales!

In the dynamic landscape of Westchester's real estate, April 2024 has marked a significant period of growth and rapid sales activity. Matthew Bizzarro, the broker and owner of Bizzarro Real Estate Agency, brings us the latest insights into the bustling market dynamics that are shaping opportunities for investors, homeowners, and potential buyers.

The Pulse of the Market

The median sold price in Westchester for April has reached a new high of $681,000, showing a robust increase of 4.7% from the previous year. This upturn reflects a healthy market driven by sustained demand and the intrinsic value of properties in the county. The market's vibrancy is further highlighted by the price jumps across various property sizes. Notably, two-bedroom properties have seen the highest spike, with a 9.1% increase in median price, while larger, five-bedroom homes also experienced significant growth.

Inventory and Sales Dynamics

April saw a dramatic 99.7% increase in inventory levels, with the largest surge observed in the five-plus bedroom category. This significant rise in available homes comes at a time when the market is experiencing quicker sales, indicating a fiercely competitive environment. Despite the expanded inventory, the number of homes sold has decreased by 12.6%. Additionally, homes are spending fewer days on the market—only 57 days on average, which is 26% lower than the previous year.

What This Means for You

For buyers, the Westchester market presents a challenging yet potentially rewarding scenario. The increased competition and faster sales cycles require swift and strategic decision-making to secure a desirable property. Sellers, on the other hand, are in a favorable position to capitalize on the rising prices and quick turnover, possibly benefiting from bidding wars and property appreciation.

Expert Insights

Navigating this complex market landscape requires expert guidance and a deep understanding of local trends. At Bizzarro Agency, we are committed to providing our clients with the knowledge and support needed to make informed decisions whether they are buying or selling. Our approach ensures that each client can move forward with confidence, leveraging our extensive experience and tailored advice.

For more insights and updates on the Westchester real estate market, subscribe to our channel and stay tuned for our regular market reports.

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