Photo by N. Bower

By Janet Kovacs, Brokerage Manager, Houlihan Lawrence Bronxville

April 16, 2025: The first quarter of 2025 unfolded against a backdrop of mixed economic signals and shifting consumer behaviors. Rising mortgage rates, stubborn inflation, and geopolitical frictions all contributed to an atmosphere of uncertainty. Yet, across Westchester, Putnam, and Dutchess counties, the residential real estate market exhibited remarkable adaptability and, in many cases, quiet strength.

While elevated mortgage rates have slowed decision-making, they have not fundamentally dampened demand. Instead, they have forced buyers to be more discerning and value-driven, creating a landscape where well-priced, move-in ready homes continue to command strong interest, often at or above asking prices.

In Bronxville village, single-family home sales were quiet in Q1 with 2 detached homes closing at an elevated median sale price of $2,925,000. With the high demand, we did see an uptick in pending transactions in Q1 2025 vs Q1 2024 as well as a 37% decrease in days on the market, both are good indicators of the high buyer demand.

Looking ahead, the second quarter of 2025 is expected to bring a modest increase in listing activity as would-be sellers grow more comfortable with the new normal of interest rates and recalibrated expectations. Buyers remain ready, but selective. The market is increasingly defined not by price points alone, but by property quality, location, and value alignment.

As Q1 closes, the tone is one of cautious confidence: grounded in data, shaped by macro forces, and propelled by the enduring desire for a home.

Please find more details here in the full Westchester County Market Report.