I hope you all enjoyed a wonderful Thanksgiving with family and friends. 🦃
Today is Black Friday — a day built around deals and discounts. While real estate doesn’t offer doorbusters, we are seeing more sellers adjusting their pricing to meet the market, creating more opportunities for buyers. More on this below!
Quick note: If you missed a recent newsletter (thanks to our domain name switch), be sure to catch up. I shared thoughts on Zohran Mamdani’s impact on Westchester real estate, why the National Association of Realtors is optimistic about home sales next year, and “Open House Baby Raves”!
Today’s Topics:
Westchester County’s Largest Price Drops
Wall Street Journal: Push the Price Too Far, and the Market Pushes Back
White Plains Affordable Housing Lottery
Average 30-Year Mortgage Rate Slips to 6.22%
Westchester Real Estate’s Largest Price Reductions!
These Westchester properties have had some of the steepest drops from their original list prices to today’s asking numbers. As market conditions shift and buyer feedback rolls in, sellers often need to adjust to stay competitive. The homes highlighted below represent the largest of those resets, just in time for Black Friday!
49 Indian Hill Road, Pound Ridge
$7,500,000 → $4,300,000
4 Woodland Place, White Plains
$1,999,995 → $1,400,000
14 Hamilton Avenue, New Rochelle
$1,400,000 → $999,000
1430 Riverview Avenue, Peekskill
$1,229,000 → $890,000
1 Scarsdale Road, #209, Tuckahoe
$699,000 → $525,000
85 Euclid Avenue, Ardsley
$1,100,000 → $850,000
Ralph’s Take
Okay, it’s not exactly a Black Friday sale, but in the seller’s eyes, it’s definitely a discount. In this market, some sellers start off overly aggressive, and a price reduction usually signals a strategic pivot as they become more focused on generating interest and attracting serious buyers. It doesn’t mean there’s anything wrong with the home, it just means the seller is motivated and ready to make a deal. And buyers take notice of these shifts, so if a price-improved home has caught your eye, I’ll be happy to show it to you.
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Westchester Weekly Market Tracker 📈
‘Coming Soon’: 8 ↑+1
New Listings: 83 ↓-57
Price Reductions: 31 ↓-36
Pending Sales: 106 ↓-42
Closed Sales: 154 ↓-9
💰 Find your home’s value here!
Property Type: Residential. OneKey MLS, Inc. 11/21/25 - 11/28/25.
WSJ: When Home Sellers Set Prices Too High, They’re Paying for It
According to a new report from The Wall Street Journal, homes that underwent price reductions this year spent nearly five times longer on the market compared to homes that were priced right from the start. Not only that, but many of them ended up selling for less than similar homes listed more strategically. This “price and pray” strategy may have worked in the turbocharged 2021–2022 market. But in today’s climate, it’s a recipe for lost momentum and missed opportunity. Additional findings:
20% of active listings in October had a price cut.
57% of homes sold in 2025 (through October) had at least one price cut.
Many sellers cut their asking price by more than 5% after 3 months on the market.
Ralph’s Take
Many of my seller-clients have heard me say this before: pricing is part of marketing. The asking price doesn’t need to reflect what I, or even my clients, believe their home is worth. Instead, it’s a strategic marketing tool. The goal is to spark excitement, increase showing activity, attract multiple offers, and ultimately sell above asking. But that only happens when the price invites interest, not hesitation. Set it too high out of the gate, and you risk turning your biggest window of opportunity (those crucial first two weeks), into a long stretch of silence and markdowns.
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White Plains Affordable Housing Lottery Announcement
Downtown White Plains has launched a rare housing lottery offering 108 renovated condos at 6 Cottage Place and 99 Church Street. Priced from the low $200Ks and available to households earning up to 100% of the Area Median Income, these studio to three-bedroom homes include accessibility-adapted units and are located in a walkable, transit-friendly neighborhood. It’s one of Westchester’s most significant affordable homeownership opportunities in years.
Starting prices: mid $200Ks (Cottage) / low $300Ks (Church)
Open to households at or below 100% Area Median Income
Accessible units available for residents with mobility or hearing/vision needs
Deadlines: Feb 12 (Cottage) & Mar 2 (Church); lottery in March
Here’s How to Apply: Applications can be submitted through homeseeker.westchestergov.com, with full details and downloadable forms also available at 6CottageCondo.com, 99ChurchCondo.com, and affordablewestchester.org. The lotteries for both buildings will take place in March 2026. Applications for 6 Cottage are due by February 12, 2026, and applications for 99 Church are due by March 2, 2026.
✂️ Just Missed the Cut
Mortgage Watch 📉
This week’s average 30-year fixed mortgage rate is 6.22% (⬇️0.12 from last week). Last year’s rate: 6.88%.
> The rate you may be eligible for can vary greatly from the daily average published via Mortgage News Daily.
Things to Do in Westchester This Weekend
Frosty Day and Parade in Armonk
Saturday, November 29th
Bronxville Small Business Saturday, Bronxville
Crestwood Library Centennial Holiday Bazaar, Yonkers
Holiday Food Truck Market, Yonkers
Holidays on the Hill Train Show, Katonah
Holiday on the Hudson, Cortlandt Manor
Holiday Opening and Market, Tarrytown
New Rochelle Holiday Market, New Rochelle
Northeast Etsy Artists Collective Winter Market, Ossining
Shrek The Musical, Yorktown
Small Business Saturday, Katonah
Small Makers Market, Tarrytown
The Great Holiday Train Show, Chappaqua
Train Show, Scarsdale
Turkey Run & Paws Walk, Rye
Young Birder’s Club, Mount Kisco
Westchester’s Winter Wonderland, Valhalla
Sunday, November 30th
Holiday Food Truck Market, Yonkers
Holiday Lighting, Katonah
Holidays on the Hill Train Show, Katonah
Holiday on the Hudson, Cortlandt Manor
Frosty Day and Parade, Armonk
New Rochelle Holiday Market, New Rochelle
Small Makers Market, Tarrytown
The Great Holiday Train Show, Chappaqua
Train Show, Scarsdale
Westchester’s Winter Wonderland, Valhalla
Yoga in the Gardens, Katonah
This market is not perfect. I'm here to help.
Planning a move in 2026?
Let’s start the conversation — so when the time is right, you’re ahead.
Reply, call, or text message me: (914) 202-1101
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Learn your home's value and find recent comparable sales here
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With gratitude, Ralph 🫡
