Labor Day is here, and with it, the unofficial end of summer.

While that’s a bummer for beach lovers, it’s also the kickoff to two very important seasons: football… and the fall real estate market. 😉

If you’re considering a move before the end of the year, or early next year - now is the time to begin making a plan.

Specifically, I strongly advise scheduling professional photo and videography now, while the skies are still blue, flowers are in bloom, and your trees are full enough to screen out your neighbor’s trampoline.

We’ve already had several shoots this week for sellers getting a head start. If you would like to quietly prep your home for a sale, I’m here to help you map it out.

Today’s Topics:

A Seller’s Tactic to Guarantee a Bidding War
Westchester Condo Inventory Hits Highest Level in 3 Years
How the Mortgage Rate Drop Impacts Westchester Homebuyers

The $1 House: Real Estate’s Latest Bidding War Trigger

In today’s overheated housing market, desperate buyers aren’t the only ones making bold moves, some homeowners are flipping the script with a striking tactic: listing their homes for just $1. While no one expects to walk away with a property for less than the cost of a pack of gum, this marketing move is igniting exactly what it’s designed to create: buzz, bidding wars, and viral attention.

Ralph’s Take

Why does the $1 strategy work? Because everyone clicks. A house listed for a dollar is clickbait, engineered for attention. An agent in New Jersey just turned a $1 listing into a $550,000 sale — they were hoping for $500,000. Another pulled in 47 offers. In the end, it’s not Zillow or your agent who decides what your home is worth, it’s the buyers with the money. This tactic is a surefire way to spark a bidding war.

And, no, no one’s tried it in Westchester County… yet.

Westchester Weekly Market Tracker 📈

‘Coming Soon’: 51 ↑+26
New Listings: 109 ↓-12
Price Reductions: 56 ↓-3
Pending Sales: 162 ↑+32
Closed Sales: 234 ↑+25

💰 Find your home’s value here: What’s my home worth?

_{Property Type: Residential. OneKey MLS, Inc. 8/22/25 - 8/29/25.}

What the Mortgage Rate Drop Means for Homebuyers in Westchester County

If the Fed cuts rates in September, it doesn’t guarantee mortgage rates will move lower. This is a conversation I’ve had with many of my clients. With a strong economy and low unemployment, mortgage rates may stay put. Yes, a Fed rate cut usually puts some downward pressure on borrowing costs, but it’s not guaranteed. Mortgage rates move more closely with bond yields, which are heavily influenced by inflation expectations and overall economic strength. If investors still see inflation risk or the labor market looks too strong, those yields (and mortgage rates) won’t budge much, even if the Fed is cutting.

We saw this last fall, and it could happen again. On a brighter note, homes are more affordable today than they were in April. Here’s the math:

April (Median Sales Price: $950,000)

20% Down Payment: $190,000
Loan Amount: $760,000
Rate: 7.07%, 30-year fixed
Mortgage Payment: $5,092

Today (Median Sales Price: $965,000)

20% Down Payment: $193,000
Loan Amount: $772,000
Rate: 6.50%, 30-year fixed
Mortgage Payment: $4,879

Even though home prices rose by $15,000 since April, the lower mortgage rate improves affordability. A buyer today pays about $200 less per month compared to April, despite the higher purchase price - that’s an annual savings of roughly $2,400 in mortgage payments.

Westchester Condo Inventory Hits Highest Level in 3 Years

As homebuyers work to balance budget constraints with lifestyle priorities, condominiums are becoming one of the most practical choices on the market. Whether you're a first-time buyer aiming to build equity or looking to downsize while staying in a prime location, today’s condo market offers strong opportunities — with inventory levels peaking at their highest level since 2021.

👉 Start Your Condo Search Here