WHITE PLAINS, NY — The housing market is poised to stay hot even as the outside temperature dips.
The national median sale price for single-family homes was 1.5 percent higher in October compared with the price in the last three weeks in September, according to Redfin. Median home sale prices were 13 percent higher than those in October 2020 and 30 percent higher than those in October 2019.
Mortgage rates have trended upward since August, which has pushed prospective buyers to buy before rates climb further, according to Redfin.
“Fear of missing out (FOMO) is always a powerful force in this supply-constrained housing market, but especially so today for buyers who weren’t able to snag a home last year before mortgage payments shot up by 15 percent,” Redfin Chief Economist Daryl Fairweather said in a news release. “With this renewed FOMO, the housing market is heating up from the slight lull a few months ago.”
White Plains Housing Market
The median sale price for a single-family home in the 10606 ZIP code was about $677,500 from the beginning of July through the end of September, according to Redfin. That was 6 percent higher than the price over the same period last year.
Redfin tracked 20 homes sold during the same time period, and more than half sold above list price. There were 27 new listings during this time, the firm said.
Not every home went under contract quickly in 10606, but 22 percent were under contract within two weeks of being listed.
ZIP code 10607
The median sale price for single-family homes in the 10607 ZIP code was $650,000 from July through September, according to Redfin; that was 6 percent higher than the same time last year.
Redfin tracked 32 homes sales during the same period, and more than half sold for above list price. There were 25 new listings during this time, the firm said.
Zip code 10605
The median sale price for single family homes in the 10605 ZIP code was $835,000 from July through September, according to Redfin; that was 11 percent higher than the same time last year. There were 64 homes sold during the same period, and more than half sold for above list price. Comparatively, 43 homes were newly listed.
Not every home went under contract quickly in 10605, but 30 percent went off-market within two weeks of being listed.
Additional single-family home information for White Plains ZIP codes. Information is from July-September 2021.
ZIP code 10603
- Median sales price:Â $635,000
- Median sales price year-over-year change:Â 17 percent
- Homes sold:Â 29
- New listings:Â 27
- Homes sold above list price:Â 45 percent
- Homes under contract within two weeks:Â 25 percent
Published by Patch
