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Inside Westchester’s Bidding Wars

Inside Westchester’s Bidding Wars

Plus, Hudson Valley Home Sales Point to a Busy Spring Market, New Listings Surged - This Week, and Westchester Inventory Grew Year-over-Year.

Ralph Ragetté Jr
April 25, 2025 • Reading Time: 9 minutes

Two weeks ago, I launched a three-family listing and the turnout blew us away.

Over 100 people showed up to the open house. Anticipating a strong turnout, I brought backup: my father (our broker), a sales agent, and a mortgage pro — and we could still barely keep up.

We received 4 offers on the first day, and by Thursday's "Highest and Best" deadline, that number had grown to 16.

The seller accepted an above-asking offer with exceptional terms. 🥂

An open house visitor asked: Which markets get the highest bids over asking?

What a great Question! We’ll dive into that below.

Today’s Topics:

Bidding Wars in Westchester County! Deep Dive by School District
331 New Listings - Highest Week-to-Week Increase of 2025 🥳
Hudson Valley Home Sales Point to Busy Spring Market
Westchester New Listings Up Year-Over-Year

Inside Westchester’s Bidding Wars

The Westchester County housing market continues to see a high volume of homes selling above their asking price. My analysis of single-family home sales by school district reveals that 56.2% of closed sales last year sold above list price. Of the 39 school districts I reviewed, 30 had a majority of sales close above asking, while only 9 districts fell below the 50% mark. Every school district, with the exception of Bronxville (99.3%) and Tuckahoe (96.8%), had an average sale-to-list price ratio above 100%.

Highest Percentage of Sales Over Asking:

Hendrick Hudson: 77.8%
Rye Neck: 72.2%
Elmsford: 70.8%
Irvington: 69.4%
Ardsley: 68.4%
Peekskill: 67.9%
White Plains: 66.3%
Eastchester: 65.3%
Katonah-Lewisboro: 64.7%
Greenburgh: 64.5%

Highest Average Sale-to-List Ratio:

Scarsdale: 107.9%
Rye Neck: 107.4%
Tarrytown: 107.0%
Blind Brook: 106.7%
Ardsley: 106.4%
Mamaroneck: 105.8%
Rye City: 105.2%
Pleasantville: 105.1%
White Plains: 104.9%
Briarcliff Manor: 104.9%

Ralph’s Take

Back in the middle of my career, especially right after the 2008 recession, negotiations between buyers and sellers often unfolded over several days. It was common for homes to sell below asking price, and sellers were generally willing to make concessions on most inspection items. Fast forward to today, and the pace has changed dramatically. Sellers now move quickly, frequently requesting “highest and best” offers just days after a listing goes live. Still, I find it fascinating just how many homes sold above their final asking price last year. 😲

Click the chart above to view details for each school district, including:

1. Total Number of Sales, 2. Number of Sales Above Asking, 3. Highest Percentage Paid Over Ask, and 4. The Average Sale-to-List Price Ratio.

Westchester Weekly Market Tracker 📈

‘Coming Soon’ Listings: 51 ↓-13
New Listings: 331 ↑+157
Price Reductions: 60 ↓-7
Pending Sales: 174 ↓-72
Closed Sales: 120 ↑+7

💰 Highest Over Ask: 41 Montrose Road, Scarsdale: $2,520,000 - 34% over ask in 9 days

_{Property Type: Residential. OneKey MLS, Inc. 4/18/25 - 4/25/25.}

Home Sales Point to a Busy Spring Market

In March, single-family home sales increased across much of the Hudson Valley region, with the Bronx experiencing a notable 20.7% rise compared to March 2024. Other counties such as Westchester, Orange, and Rockland also saw growth in single-family home sales, while Putnam and Sullivan counties reported declines. Median sales prices for single-family homes rose throughout the region, with Sullivan County experiencing the highest increase at 18.3%, reaching $335,000. Additionally, the condo and co-op markets showed significant activity, particularly in the Bronx and Rockland County.

Westchester County Statistics:

Single-family: Sales up 11.5%, Median Price up 8.9% ($860,000).
Condominium: Sales up 19.1%, Median Price up 15.1% ($575,000).
Cooperative: Sales up 16.5%, Median Price up 7.6% ($220,500).

Ralph’s Take

All signs point to a strong spring market, especially with the recent boost in inventory. If mortgage rates remain steady or edge lower, that could further drive an increase in local sales. Buyers will need to stay ready and move fast, while sellers should prioritize strategic pricing and sharp marketing to make the most of current conditions.

More homes. More chances to find your perfect match.

If you hit pause on your home search because you couldn't find the right home at the right price, it’s time to hit play again. More listings are popping up, and inventory is finally growing. That gives you fresh options that may check all your boxes. If you want to find out what’s available in our area, contact me. Let me know what your dream home would have to include to make you jump back in!