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Northern Westchester home sales rose 9 percent in the fourth quarter of 2016, while the median home sale price decreased by 5 percent, according to the most recent market report compiled by Houlihan Lawrence Real Estate.
"There were a lot of people trading up in the marketplace and even a good amount of first-time buyers moving into homes," said Barry Graziano, real estate broker at Houlihan Lawrence and branch manager in Armonk. "2016 never stopped; we kept going to the finish line and we stayed busy till the very end of the fourth quarter."
According to Graziano, sales have increased in Northern Westchester throughout each quarter of 2016. With over 1,000 home sales, real estate activity was at its highest in Northern Westchester in over a decade, making 2016 a lucrative marketplace for home sellers.
"In the fourth quarter alone, we sold 256 homes across Northern Westchester," said Graziano. "Even outside our district, we continue to see increasing home sales each year in Westchester. I expect the same kind of upswing in 2017."
Graziano and other Houlihan Lawerence Real Estate agents are looking to capitalize on the 2016's momentum and continue the hot selling into the new year.
"With continued increases in both sales and prices, we expect the Northern Westchester market will continue be successful in 2017,” said Graziano. “We believe that our fundamentals and selling practices are sound, and with homes priced at relatively attractive levels, interest rates near historic lows and a stable economy, everything is looking up in real estate."
For more information about Houlihan Lawrence Real Estate or to find a listing, visit their website.
