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The Westchester Brief | 10.14.26: $1.2M Median, 7.4% Mortgage Rate
Description
Houlihan Lawrence puts the third quarter median single-family price in Westchester County at $1.2 million, up 10.1% from a year ago, while the average 30 year mortgage rate is above 7%. We walk through the sales numbers, the Federal Reserve's September increase, and what the rate gap alone adds to the monthly payment on a $960,000 loan, the size of a loan on a median price home with 20% down.
The report, as covered by Westfair Communications on October 7, counts 1,562 single-family sales, down 2.2%. Condominium sales rose 4.3% and co-op sales fell 3.7%. The Federal Reserve raised its target rate a quarter point on September 16. The episode also explains that a median can move when the mix of homes sold changes, and that the coverage gives no inventory count.
In This Episode
(0:00) Cold Open
(0:18) Deep Dive: Westchester's Q3 median price and mortgage math
(3:36) What's Happening in Westchester: Rhinebeck Bank opens in Rye Brook
(3:48) Close
Sources:
Westfair Communications, Houlihan Lawrence Q3 report: https://westfaironline.com/economy/single-family-home-prices-up-more-than-10-in-westchester-and-dutchess-in-q3/
Federal Reserve, September 16 statement: https://federalreserve.gov/newsevents/pressreleases/monetary20260916a.htm
Freddie Mac, Primary Mortgage Market Survey: https://www.freddiemac.com/pmms
Rhinebeck Bank, Rye Brook branch announcement: https://www.valuethemarkets.com/news/press-releases/rhinebeck-bank-opens-rye-brook-branch-to-advance-westchester
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