We’re older this week.

I celebrated a birthday and so did The Ragetté Report.

One year ago, the very first newsletter went out to just 103 people.

Since then, it’s grown significantly, and it’s been a privilege to keep you informed (and hopefully a little entertained) as we navigate this ever-evolving real estate landscape together.

Whether you've been here from the start or recently joined, thank you for reading.

I hope the insights I’ve shared over the past year have brought you value, and maybe even helped you make a smarter move.

Today’s Topics:

Second Quarter Real Estate Statistics
Mortgage Applications Surged Last Week
It’s Getting Easier to Qualify for a Mortgage

Q2: Westchester Market Shows Strength Amid Supply Constraints

The Westchester County real estate market showed remarkable strength in Q2 2025, holding steady despite (or perhaps because of) limited inventory. The median home price reached $1,075,000, up 11% year-over-year, while homes continued to sell quickly, averaging just 34 days on the market. Buyers remain active, and well-positioned homes are still commanding attention. Here are the numbers:

Ralph’s Take

Buyer demand continues to outpace housing supply across nearly every category. Properties are selling just as quickly as they did last year, but at higher price points across the board. With the exception of condominiums, inventory in Q2 was down compared to the same period in 2024. That said, I expect the second half of this year to outperform 2024’s, when mortgage rates climbed steadily through Q4.

Westchester Weekly Market Tracker 📈

‘Coming Soon’: 24 ↓-24
New Listings: 204 ↑+56
Price Reductions: 69 ↓-1
Pending Sales: 157 ↓-37
Closed Sales: 149 ↓-96

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

_{Property Type: Residential. OneKey MLS, Inc. 7/4/25 - 7/11/25.}

Real Estate Heatwave: 9% Spike in Mortgage Applications

Last week, I highlighted the recent dip in mortgage rates as we headed into the summer market. This week, the Mortgage Bankers Association (MBA) confirmed what we suspected: even a modest drop is already making waves (how’s that for a summer pun?). Their latest report shows purchase applications jumped 9% — putting them 25% higher than this time last year. Here are a few more key takeaways:

The 30-year fixed rate dipped last week to 6.77%, the lowest in 3 months.
Purchase applications increased to their highest level since 2/2023.
Refinance applications rose 9% weekly and were up 56% YOY.
Pending home sales hit 66,967, 1.5% higher than the same week last year.

Ralph’s Take

The spike in mortgage applications is a clear sign: buyers are paying close attention to rates and are poised to make a move when the numbers line up. For many, it’s not just about price, it’s about the monthly payment. This recent dip might be the window some have been waiting for. As rates slowly edge closer to that “magic rate”, expect buyer activity, and overall market momentum, to pick up.

It’s getting a bit easier to qualify for a mortgage right now.

The Mortgage Credit Availability Index is rising, meaning more people are able to secure financing for a home loan – even with lower credit scores or smaller down payments. In fact, it’s easier to get a loan now than it’s been in almost three years. Lenders are trying to boost activity in the housing market, and that gives you an opportunity. You may qualify today, even if you didn’t a few months ago.

Just Missed the Cut

Mortgage Watch 📉

This week’s average 30-year fixed mortgage rate increased slightly today after trending downward most of the week, to 6.82% (⬆️ 0.07 from this time last week).

_{> The rate you may be eligible for can vary greatly from the daily average published via}_{Mortgage News Daily}_.

Westchester Events

Pleasantville Music Festival Returns This Weekend

Saturday, July 12th - Sunday, July 13th

7/12: Armonk Summer Concert
7/12: Downtown Summer Sizzle
7/12: DJ Days at Saxon Woods Pool
7/12: Hive & Honey
7/12: Pleasantville Music Festival
7/12: Tastings in the Field
7/12: Westchester Comedy
7/13: Hispanic Heritage Festival
7/13: Irish-American Heritage Festival
7/13: New York Opera Conservatory Summer Concert
7/13: The Great 26 Mile Challenge
7/13: Yorktown Concert Series

Farmer’s Markets:

Saturday: Bronxville, Chappaqua, Greenburgh, Hartsdale, Hastings-on-Hudson, Katonah, Larchmont, North Salem, Ossining, Peekskill, Pleasantville, Pocantico, Sleepy Hollow / Tarrytown
Sunday: Irvington, Katonah, Mount Kisco, Rye, Scarsdale, Somers, Tuckahoe

Click for Event Info, Times, and Links!