Is Now the Right Time to Buy a Condo in Westbury

1. Is Now the Right Time to Buy a Condo in Westbury? Westbury, NY, has been experiencing dynamic changes in its housing market throughout 2025, making it essential for potential condo buyers to carefully assess current trends before making a decision. Here’s a detailed analysis to help you determine if now is the right time to invest in a Westbury condo. Current Market Overview Westbury’s housing market in 2025 shows mixed signals. The average home value is around $738,000 to $752,000, reflecting a year-over-year price increase of approximately 6.8% to 7.3%. However, some data indicates a slight dip in home prices in April 2025, with a 1.9% decrease compared to the previous year, and a median sale price near $775,000. This suggests some short-term fluctuation but overall stable or slightly appreciating home values. The market is described as neutral, neither strongly favoring buyers nor sellers, which means prices are reasonable, and homes stay on the market for a typical duration. Homes in Westbury generally sell within 20 to 26 days, indicating brisk activity but not an overheated market. Competition and Inventory Westbury’s housing market remains competitive, with many homes receiving multiple offers and often selling above the asking price, especially desirable properties. The average home sells for about 1% above list price, while hot homes can go for as much as 6% above asking. However, inventory has decreased recently, with about 92 homes for sale in March 2025, down 11.5% from February, and fewer listings for 1- and 2-bedroom homes, which are typical condo sizes.

2. This lower inventory can create urgency for buyers, but it also means fewer options to choose from. If you find a condo that fits your needs, acting quickly is advisable. Price Trends for Condos Price increases have been consistent across bedroom sizes, with 1- bedroom homes up 7.4% and 2-bedroom homes up 4.3% year-over-year. These figures suggest that condos, which often fall into these categories, are appreciating but at a moderate pace. The median price per square foot has risen to around $441 to $466, reflecting steady demand and value growth. Market Conditions: Buyer or Seller? Westbury is currently a neutral market, which means buyers have reasonable negotiating power without the extreme pressure of a seller’s market. About 53% of homes sold below asking price recently, indicating some room for negotiation. However, the competitive nature of the market means desirable condos may still attract multiple offers. Additional Considerations Rental Market: Average rents in Westbury are around $3,300, higher than the national average, which could make condo ownership attractive for investors or those considering renting out their property. Time on Market: While homes are selling relatively quickly, the average listing age has increased by 34% compared to last year, suggesting some properties take longer to sell, possibly giving buyers more time to consider options. Conclusion: Is Now the Right Time?

3. If you are looking to buy a condo in Westbury, the current market conditions are generally favorable. Moderate price appreciation, a neutral market balance, and relatively fast sales indicate a stable environment for buyers. However, the competitive nature and reduced inventory mean you should be prepared to act decisively when you find the right property. For buyers seeking long-term investment or a primary residence, now is a reasonable time to buy a condo in Westbury, especially if you value a stable market with potential for continued appreciation. Working with a knowledgeable local real estate agent can help you navigate the competitive landscape and secure the best deal. In summary, while no market is perfectly predictable, Westbury’s 2025 condo market offers a balanced opportunity for buyers ready to move promptly and thoughtfully. FAQs What is the current average price of a condo in Westbury, NY? The current average price of a condo in Westbury, NY is around $738,000, reflecting a 7.3% increase over the past year. The median listing price for homes in Westbury is approximately $800,000, with condos typically falling within this range depending on size and amenities. This steady price growth highlights a strong and competitive local market in 2025. Is it a good time to invest in a Westbury condo for rental income? Yes, it is a good time to invest in a Westbury condo for rental income. Average rents in Westbury are high—between $3,000 and $3,900 per month—making it one of the most expensive rental markets in the area, and demand remains strong despite recent price fluctuations. This creates solid potential for steady rental returns for condo investors in 2025 What should I look for when buying a condo in Westbury?

4. When buying a condo in Westbury, look for a good location with access to amenities, check the building’s condition, and review the homeowners association (HOA) fees and rules. Make sure the condo fits your budget, has strong resale value, and offers features that match your lifestyle needs. Always inspect the property and understand the community before making a decision. How can a local real estate agent help me buy a condo in Westbury? A local real estate agent in Westbury can guide you through every step of buying a condo, from finding the right property to negotiating the best price and handling all the paperwork. They have expert knowledge of the Westbury market and access to the latest listings, making your search faster and easier. Working with a local agent ensures you get personalized advice and a smooth buying experience.