The median home in Westchester County listed for $695,000 in March, up 7.1% from the previous month’s $649,000, an analysis of data from Realtor.com shows.
Compared to March 2023, the median home list price increased 15.9% from $601,750.
The statistics in this article only pertain to houses listed for sale in Westchester County, not houses that were sold. Information on your local housing market, along with other useful community data, is available at data.lohud.com.
Westchester County’s median home was 1,700 square feet, listed at $380 per square foot. The price per square foot of homes for sale is up 10.8% from March 2023.
Search the Lower Hudson Valley NY Real Estate Database
Ever wondered about the cost of your neighbor’s house or curious about recent real estate transactions in your area? Our comprehensive real estate transactions database allows you to discover property prices and details right in your neighborhood.
- Search by Location: Input your county, town or a name to access a list of recent real estate transactions.
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- User-Friendly Interface: Navigate effortlessly through the database with our intuitive and easy-to-use platform.
- Stay Informed: Keep up-to-date with the latest trends in your local real estate market.
Search your town’s home sales:Real estate transactions in New York State since 2004
Listings in Westchester County moved briskly, at a median 32 days listed compared to the March national median of 50 days on the market. In the previous month, homes had a median of 49 days on the market. Around 960 homes were newly listed on the market in March, a 2.1% increase from 940 new listings in March 2023.
The median home prices issued by Realtor.com may exclude many, or even most, of a market’s homes. The price and volume represent only single-family homes, condominiums or townhomes. They include existing homes, but exclude most new construction as well as pending and contingent sales.
House prices:Check out the most expensive single-family home ever sold in White Plains
Across the New York-Newark-Jersey City metro area, median home prices rose to $759,900, slightly higher than a month earlier. The median home had 1,502 square feet, at a list price of $555 per square foot.
In New York, median home prices were $685,000, a slight increase from February. The median New York home listed for sale had 1,587 square feet, with a price of $420 per square foot.
Throughout the United States, the median home price was $424,900, a slight increase from the month prior. The median American home for sale was listed at 1,826 square feet, with a price of $228 per square foot.
The median home list price used in this report represents the midway point of all the houses or units listed over the given period of time. Experts say the median offers a more accurate view of what’s happening in a market than the average list price, which would mean taking the sum of all listing prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high price.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Realtor.com. Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu.
We’re officially in the thick of the spring housing market, and we’ve already seen an increase in real estate activity across the country. But there’s always one week that’s expected to stand out the most for homeowners looking to sell their property.
This year, Realtor.com has deemed the week of April 14-20 as the best week to sell nationwide. This week is expected to combine higher buyer demand, lower competition from other sellers and fewer price reductions than what is seen during a typical week.
“We looked at six different metrics that all kind of captured inventory on the market, time on the market and prices,” said Hannah Jones, senior economic research analyst at Realtor.com. “So, we looked at all six of those metrics and we looked at how those metrics move both nationally and within a metro area over the course of a year. We weighted all of those equally and looked at where that perfect sweet spot is where you’re bringing together all of those metrics.”
What makes the third week of April the best time to sell nationwide?
The third week of April is expected to have a favorable balance of market conditions for sellers, including elevated prices, increase buyer demand and lower competition from other sellers, Jones said.
“We kind of found that optimization point where you’re seeing prices that are over the average price for the year but time on market that’s faster and less competition from other sellers,” Jones said. “You can expect to see good demand for you home because there aren’t too many sellers in the market quite yet, and you can see your home sell quickly.”
In terms of home prices, media listing prices are expected to be about 1.1% higher — or $7,400 more — than the average week, and home costs could be about 10.4% higher — or $34,000 more — than they were at the start of 2024.
While active inventory was 7.9% higher at the start of 2024 compared to 2023, the highest beginning-of-year inventory since 2020, inventory was still 39.7% lower than pre-pandemic levels, according to the report. As a result, it is predicted that there will be 13.7% fewer homes on the market during the best week compared to the average week.
Home listings are also expected to receive about 18.4% more views during the best week than the rest of the year. According to the report, this week in 2023 had 22.8% more views per listing. So, if mortgage rates see a significant drop this spring, we could see a greater surge in buyer demand sooner.
Homes are also expected to sit on the market for as few as nine days, or about 17% faster than during an average week.
When is the best week to sell in North Jersey?
While the week of April 14-20 may be the best time to sell nationally, March 31 to April 6 is the best week to sell in the New York metropolitan area.
In our region, median listing prices are expected to be 5.2% more — or $38,000 — during this week than they were at the start of 2024, according to the report. There are also expected to be 16.7% fewer price reductions during this week than there are during the average week.
This week is also anticipated to yield 7.1% fewer active listings than during an average week, resulting in 16% more views per property. And, active listings are expected to stay on the market for 11 fewer days than during an average week.
“While we did determine that this is the optimal week, the weeks surrounding it are also really good weeks to sell. This may bring together a tiny bit of favorability either on price or other seller competition, whatever it may be, to make it really the best week. But, in general, if you’re not ready to sell that week, that’s okay,” Jones said. “It’s still a good time of year to start thinking about putting your home on the market, being on the early side of spring and the busy season, so you can get in there and get buyer attention before there are a ton of other sellers in the market who are also vying for that same attention.
Sellers should start preparing their homes to sell now
There’s just about a month until the national best week to sell arrives, and even less time until the best week to sell in the New York metropolitan area. So, if you’d like to take advantage of this time, you better start preparing now.
“Even though it is the best time to sell — it’s the selling season and there are going to be buyers looking for a home — buyers are still probably going to be a little bit picky because they’re paying a lot for a home right now. So, the best way to prepare is to have realistic expectations,” Jones said.
Preparation not only involves doing things like finding a real estate agent and ensuring that your home is priced attractively, but also making any repairs, deep cleaning the interior and adding a fresh coat of paint to the inside of the home. You can also take some time to improve your home’s curb appeal by adding plants and colorful flowers to the front of your home, as well as repainting things like your garage door, fences and railings.
“I think that, in general, the consistency of it is a little bit comforting because even though mortgage rates are moving around and all of this stuff feels very out of control, those typical seasonal housing dynamics do continue and they do persist,” Jones said.
Maddie McGay is the real estate reporter for NorthJersey.com and The Record, covering all things worth celebrating about living in North Jersey. Find her on Instagram @maddiemcgay, on X @maddiemcgayy, and sign up for her North Jersey Living newsletter. Do you have a tip, trend or terrific house she should know about? Email her at MMcGay@gannett.com.
A new community in Surprise will sprout 795 homes with prices starting in the high $300,000s.
Meritage Homes’ 227-acre development called Paloma Creek will also have the biggest amenity center it has built so far, with a pool, an outdoor kitchen, a playground, a fire pit, a basketball court and fitness and community centers.
Located near West Happy Valley Road and 163rd Avenue, the community’s houses will range in size from about 1,200 square feet to more than 3,000 square feet. Prices range from $380,000 to about $450,000.
Homes are under construction and models are open in Paloma Creek. Sales started last month.
The median home price in Surprise is $445,000, according to Realtor.com. Metro Phoenix’s median price is $430,000.
“Paloma Creek offers homebuyers well-appointed, energy-efficient homes at an affordable price,” said Jamie McAndrew, vice president of sales for Meritage in Phoenix. “We look forward to welcoming buyers to the community and helping them achieve their goal of homeownership.”
The houses will include spray-foam insulation, Low-E windows, air infiltration systems and ENERGY STAR-certified appliances.
New homes are drawing more Valley homebuyer attention because of the short supply of existing houses. Also, many home builders offer mortgage-rate buydowns for buyers.
Reach the reporter at catherine.reagor@arizonarepublic.com or 602-444-8040. Follow her on X, formerly Twitter: @CatherineReagor.
Newly released data for November shows that potential buyers and sellers in Westchester County saw houses sell for higher than the previous month’s median sale price of $700,000.
The median home sold for $730,000, an analysis of data from Realtor.com shows. That means November, the most recent month for which figures are available, was up 4.3% from October.
Compared to November 2022, the median home sale price was up 5.6% at $730,000 compared to $691,000.
Realtor.com sources sales data from real estate deeds, resulting in a few months’ delay in up-to-date data. The statistics don’t include homes currently listed for sale, and aren’t directly comparable to listings data.
Lower Hudson Valley NY Real Estate Database: Key Features
Ever wondered about the cost of your neighbor’s house or curious about recent real estate transactions in your area? Our comprehensive real estate transactions database allows you to discover property prices and details right in your neighborhood.
- Search by Location: Input your county, town or a name to access a list of recent real estate transactions.
- Property Details: Get insights into property prices, transaction dates, and essential details about homes sold or purchased.
- User-Friendly Interface: Navigate effortlessly through the database with our intuitive and easy-to-use platform.
- Stay Informed: Keep up-to-date with the latest trends in your local real estate market.
Search your town’s home sales:Real estate transactions in New York State since 2004
Looking only at single-family homes, the $794,500 median selling price in Westchester County was up 5.9% in November from $750,000 the month prior. Since November 2022, the sale price of single-family homes was up 9.6% from a median of $725,000.
One hundred two single family homes sold for $1 million or more during the month, compared to 127 recorded transactions of at least $1 million in November 2022.
Condominiums and townhomes decreased by 7.7% in sales price during November to a median of $520,000 from $563,250 in October. Compared to November 2022, the sales price of condominiums and townhomes was up 7.8% from $482,500. Nine condominiums or townhomes sold for $1 million or more during the month, compared to 15 recorded transactions of at least $1 million in November 2022.
House prices:Check out the most expensive single-family home ever sold in White Plains
In November, the number of recorded sales in Westchester County dropped by 29.4% since November 2022 from 591 to 417. All residential home sales totaled to $496.1 million.
In New York, homes sold at a median of $355,946 during November, down 7.5% from $385,000 in October. There were 9,431 recorded sales across the state during November, down 26.3% from 12,789 recorded sales in November 2022.
The total value of recorded residential home sales in New York decreased by 14.4% from $7.9 billion in October to $6.8 billion this November.
House prices:What kind of house will $1M get you in Westchester, Rockland, Putnam? We checked
Out of all residential home sales in New York, 12.5% of homes sold for at least $1 million in November, up from 11.85% in November 2022.
Sales prices of single-family homes across New York decreased by 10.1% from a median of $344,828 in October to $310,166 in November. Since November 2022, the sale price of single-family homes across the state was down 20.5% from $390,138.
Across the state, the sale price of condominiums and townhomes rose 1.4% from a median of $499,387 in October to $506,527 during November. The median sale price of condominiums and townhomes is up 3.6% from the median of $489,013 in November 2022.
The median home sale price used in this report represents the midway point of all the houses or units listed over the given period of time. The median offers a more accurate view of what’s happening in a market than the average sale price, which would mean taking the sum of all sale prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high sale.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Realtor.com. Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu.
It may come as no surprise that home prices are continuing to rise in 2024: The median sale price for an existing home was 4.4% higher in December 2023 than in December 2022, according to the National Association of Realtors. Not only that, mortgage rates are twice as high now as in early 2022: 6.8%, as of mid-February, compared to just over 3% at the start of 2022.
Daryl Fairweather the chief economist at Redfin recently told USA TODAY that the current housing market is “the least affordable housing market in recent memory.”
Although some Americans view homeownership as a rite of passage, the current housing market has made renting look more attractive. A 2023 analysis by Realtor.com found that renting was cheaper than buying in 47 of the 50 largest metropolitan areas.
See how much homes are valued in your county
For the roughly two-thirds of Americans who do own homes, location is a major determinate of their home’s value. Home ownership is a major financial asset to many households and knowing the worth of a home can help families decide to buy or sell.
County level data of housing statistics from the the American Community Survey shows how much homes are valued at across the country. See the median value of homes in each U.S. county:
What are the most expensive housing markets in the U.S.?
The following counties have the highest median home values:
- Santa Clara County, CA: $1,583,130
- San Mateo County, CA: $1,573,470
- Marin County, CA: $1,454,450
- San Francisco County, CA: $1,332,660
- Nantucket County, MA: $1,313,450
Where is it cheapest to buy a home in the U.S.?
The following counties have the lowest median home values:
- Todd County, SD: $42,940
- Cochran County, TX: $50,140
- McDowell County, WV: $50,960
- Cottle County, TX: $53,690
- Stonewall County, TX: $57,140
Why now is a great time to rent:‘The least affordable housing market in recent memory’
Housing market predictions:Six experts weigh in on the real estate outlook in 2024
How was the data collected?
The National Association of Realtors analyzed data from the Census Bureau’s American Community Survey of median housing prices for 3,110 counties and county equivalents across the U.S. Home values reflect the overall worth of all homes in a given area rather than solely home sales data, according to the NAR.
Daniel de Visé contributed to this reporting
Generations of consumers have embraced homeownership as part of the American dream. Lately, though, it looks more like a pipe dream.
“Housing is becoming a luxury good,” said Christopher Mayer, a Columbia University economist.
The upside? It’s a great time to rent. The spiraling costs of homeownership have turned the perennial rent-vs.-own equation on its head. In most of the nation’s largest cities, renting is now far cheaper.
The median sales price for existing homes rose more than 40% from early 2020 to mid-2022, to a seasonal peak just above $400,000, according to the National Association of Realtors.
Prices are still rising: The median sale price for an existing home was 4.4% higher in December 2023 than in December 2022.
Learn more: Best personal loans
Mortgage rates, meanwhile, are twice as high now as in early 2022: 6.8%, as of mid-February, compared to just over 3% at the start of 2022.
Taken together, those two trends yield frightening math.
Rising mortgage rates should have pushed home prices down. They didn’t
Imagine you bought a $400,000 home, and you made a 20% down payment.
At 3.2% interest, your monthly principal and interest on a 30-year mortgage would have totaled $1,383, according to a Bankrate mortgage calculator.
At 6.8%, the same mortgage would cost you $2,086.
“It’s the least affordable housing market in recent memory,” said Daryl Fairweather, chief economist at Redfin.
Rising interest rates slowed the upward march of home prices, even leading to small declines in some months. Yet, the seller’s market has endured. Here are some reasons:
- Developers haven’t been building enough new homes to keep up with demand.
- The covid pandemic and remote work boom seeded even more demand, as workers sought larger homes.
- Homeowners with historically low mortgage rates don’t want to sell.
“It’s kind of the perfect storm, if you’re a consumer,” Mayer said. ‘“Perfect storm’ in a bad way.”
Homeownership has long been regarded as a rite of passage
The prohibitive costs of home purchase are reshaping common wisdom about the merits of homeownership.
Americans have long regarded home ownership as a rite of passage. Roughly two-thirds of Americans own homes. Many households count their home as their main asset.
Lately, however, the rent-or-buy calculus has favored the renter.
Many factors go into the equation.
Potential buyers consider how long they’re likely to stay in the home, how much money they can leverage as a down payment, how much interest they’ll pay on the mortgage, and whether the home is likely to increase in value.
Potential renters factor in current rental rates, whether rents are likely to rise, and the costs of rental insurance.
In a typical housing market, a home purchase might make sense for anyone who expects to stay put for, say, five years. That’s enough time to make a dent in your mortgage, building equity in the home, and for its market value to rise. Sell a home after five or 10 years, the theory goes, and you’re likely to profit.
That equation might still work. Yet, housing prices have climbed so high that many potential buyers can’t afford the investment.
“For a lot of people, it’s not an issue of choice,” Mayer said.
In the current housing market, renting looks increasingly attractive.
A 2023 analysis by Realtor.com found that renting was cheaper than buying in 47 of the 50 largest metropolitan areas.
In Austin, Texas, the monthly cost of buying a starter home was $3,946, the analysis found. That’s more than twice the monthly cost of renting, $1,670. The monthly savings: $2,276.
The report found just three metro areas where it remained cheaper to buy: Pittsburgh; Memphis, Tennessee; and Birmingham, Alabama.
A housing expert goes from owner to renter
Elizabeth Renter, a senior writer at NerdWallet who studies home prices, ran the numbers in central Durham, North Carolina, for an upcoming move. She decided to rent.
A Realtor.com rent-or-buy calculator shows home prices averaging $550,000 in central Durham. A home at that price would cost about $2,868 in monthly principal and interest, assuming a 20% downpayment and 6.8% interest. Rents in central Durham average around $1,700 a month. Renting is the cheaper option.
“I’ve never lived in Durham,” she said. “I don’t know if I want to stay in Durham long-term. So, I’m not ready to buy a house in Durham.”
Renter is selling her home, a Victorian fixer-upper in Kansas. She’s tired of fixing things.
“I’m going to love calling the landlord when something breaks,” she joked.
Rents are rising in America, just like home prices, but not at the same pace.
Rents averaged $1,958 nationwide in January, up exactly one dollar from December, according to a NerdWallet analysis.
Rents are 29% higher now than before the pandemic, NerdWallet reports.
But economists don’t expect a big spike in rents in the months to come. One reason: A surge in construction of rental housing.
“We have seen rents slow in recent months,” said Danielle Hale, chief economist at Realtor.com. “So, for people who are renting, you can take advantage of the fact that your rent may possibly go down. More possibly, it will stay fixed.”
Will the housing market ever go down?
Homeownership won’t become more affordable, economists say, without a steep decline in interest rates, home prices, or both.
Economic forecasts suggest mortgage rates might ease later this year, following a series of predicted rate cuts by the Fed.
“There is almost complete consensus that rates will come down,” said Matt Vernon, head of consumer lending at Bank of America.
Home prices are likely to remain high, largely as a matter of simple supply and demand: The pickings are slim. Sales of existing homes bottomed out in 2023, as the nation’s homeowners refused to budge.
Many homeowners refinanced their mortgages at historically low rates, before and during the pandemic. Most mortgage holders now have interest rates of 5% or lower. Home equity stands near historic highs.
“Unless you have to sell, you’ll just stay put,” said Odeta Kushi, deputy chief economist at First American Financial Corporation.
Rent or buy?The gap is narrowing for affordability in the US
Roughly two-fifths of American homes are owned free and clear, Kushi said, unencumbered by a mortgage.
“The nuance there is that a lot of those homes are owned by the baby boomer generation,” she said. “Will they move at this point? Maybe not.”
Daniel de Visé covers personal finance for USA Today.
LANSING — Priced at $255,000, a Roundtop Road home with vaulted ceilings, hardwood floors and an address within the Grand Ledge Public Schools district hosted a busy open house on Sunday.
Realtor Laura Guild warned that serious lookers should drop their highest and best offers, because the house was likely to be sold fast.
Patrick and Pat St. George, a retired couple now living in a Delta Township condominium, refused to get in a bidding war. They aren’t ready yet, having just started looking for a new home, one where they said they can “age in place.” Their wish list: A home that at minimum has a laundry on the first floor, good accessibility features and a price point within their range.
Patrick, 81, and Pat, 79, are hopeful since they feel more fortunate financially than young professionals starting out and paying off years of student loan debt.
“Everybody says the economy sucks and that the interest rates are too high and it’s the worst time in the world to sell your house. The flip side is offers are going in just bam, bam, bam,” Patrick said.
The St. Georges may have to look longer than they expect to get a home with those features. Then again, they may not.
The residential real estate market in Greater Lansing is expected to have slightly more homes sold at modestly higher prices than 2023, although what the Federal Reserve does with interest rates could alter the difference, experts said.
Regardless, don’t expect a return to the skyrocketing housing prices seen in 2020 and 2021 when interest rates briefly dropped below 3%, the lowest in many years.
About 85% of mortgage holders are locked into sub-5% interest rates, which kept many homeowners from selling their home and buying another at interest rates that peaked at 7.8% the week ending Oct. 26 and fell to an average of 6.6% by Dec. 28, according to Freddie Mac.
A Realtors.com forecast calls for a 1.2% increase in home sales across the Greater Lansing region, with prices expected to rise by 6.2% compared to 2023 prices.
“The higher rates affect the home buying power and there’s a housing shortage,” said Doug Petroff, president of the Greater Lansing Association of Realtors. “When there’s an egg shortage, the price of eggs goes up. Same with housing, except it’s more expensive. We have a lack of inventory in the local area.”
Average home sale prices continue to rise
Average home sales prices in Greater Lansing rose 4.6% last year, according to figures from Rooted Real Estate of Greater Lansing. Those numbers include home sales in Eaton, Ingham and Clinton counties and Portland.
Every major community except for Mason saw increases in average home values, led by Bath, where average home prices rose almost 20% in a year from $249,157 to $298,700. Bath Township is one of the fastest growing parts of the Greater Lansing area, second only to Okemos.
There were also double-digit gains in average home prices in Portland, Potterville Grand Ledge, DeWitt, Laingsburg and the Holt/Dimondale area.
DeWitt had the highest average home prices in the area, with 12.8% growth to $381,746, followed by Okemos, where average prices rose 4.9% to $369,172.
The smallest growth in average home prices was in East Lansing, where home values rose 3.5%, to $287,603 from $277,795.
Lansing saw prices rise 9.4% from $127,312 to $139,275, while East Lansing saw the smallest increase in average prices. Mason average home prices fell 7.7%, dropping from $260,155 to $240,200.
A Realtors.com forecast calls for average home prices to continue to rise, up 6.2% over 2023 averages and 42% higher than the 2017-2019 period.
The median home price in the Greater Lansing area was about $174,000 in January 2022. It hit a high of $237,000 in June and was at about $200,000 in December, according to figures from the Greater Lansing Association of Realtors. The local market tends to favor the summers, with higher average sales prices and in recent years more than 700 homes for sale, compared to about 350 during the winter months.
The region remains popular
Petroff said the affordability of the area, compared to other parts of Michigan and the Midwest, is a big attraction along with Michigan State University and Lansing being a capital city.
The area remains one of the most affordable metro areas, with median incomes in Lansing of around $51,000, which Realtors.com says is about 60% more than the minimum to qualify for a mortgage. Realtors.com said Grand Rapids is one of the most affordable communities in the nation, with higher median incomes and higher average home prices than the Greater Lansing area.
Lansing is forecast by Realtors.com to be the 22nd best of the nation’s 100 largest metro areas. The list does not distinguish between a buyer’s or seller’s market and is based on an expectation of changes in price and the number of homes sold.
Grand Rapids area home sales are expected to rise at a faster level, about 6.1%, and median sales prices are expected to rise 7.2%, where Realtors.com forecasts the western Michigan region as the ninth best market in the U.S.
The Detroit area, ranked at No. 36, is just out of the top third of the nation’s metro areas. The Realtors.com forecast calls for a drop in home sales (6.7%) and an increase in sales prices (10.9%).
Housing shortage driving prices up
The national housing shortage is also one of Michigan’s problems, said Brian Connolly, an assistant professor of business at the University of Michigan, with a focus including real estate.
“There’s a problem of both high housing costs and also low inventory,” he said. “There’s just not a lot of housing available, whether it’s rental or for sale, particularly in the really fast-growing markets across the country.
“The actual cost of homeownership has gone up dramatically because the monthly payments on an 8% mortgage are so much higher than they were on the 2% or 3% mortgages so if the mortgage rates come down you would expect to see sellers that have been sitting on the sidelines may be more inclined to sell.”
And it would increase the buying power of buyers if interest rates came down, he said.
“So any drop in rates would sort of help to unfreeze the market a little bit but at the same time the rate drops tend to go with an increase in home prices as well,” Connolly said.
Michigan’s current housing costs are low compared to other states but the state has an aging housing supply. Nearly half of the homes were built before 1970, and even with 22,000 new housing starts in 2022, the state is well below the national pace of new homes, according to a report from the Growing Michigan Together Council.
The group was created by Gov. Gretchen Whitmer to help address how Michigan can attract new residents and reverse its stagnated population.
“Develop and revitalize housing stock to meet Michigan’s housing demands,” is one of nine suggestions from the group, which also recommended attracting young talented workers, restructuring primary and secondary schools and having more public transit.
“(E)xisting housing—historically, the main supply of housing for middle- and low-income families—is scarce,” the report said, noting that rentals are also difficult to find with the state’s units for rent declining by 40% from 2010 to 2019.
Michigan remains affordable compared to other states
Connolly said research still needs to confirm it, but he suspects renewed interest in Michigan is similar to his own experience: He worked in Denver for years and sold his home there, at a good profit, to move back to the more affordable Michigan where he grew up. But now, he’s unlikely to be able to afford the same house in Denver if he ever wanted to go back, because higher housing prices and interest rates would make the same house nearly unobtainable.
“Housing prices are elevated here in Michigan as well, but it’s still quite affordable compared to the coastal markets and markets in the South and West,” Connolly said.
Some home buyers and sellers may have been spooked by interest rate hikes in the last half of 2023, pushing them off the market for now, said Faith Steller, a RE/MAX Realtor who has been in the local market since 2008.
“For some people a rate hike didn’t matter but some pulled back and some of them are wanting to come back out into the market, thinking rates are coming down a little bit,” Steller said.
Contact Mike Ellis at mellis@lsj.com