Real Estate

In Tax-Heavy Westchester, Homebuyers Shift to Condos, Co-Ops

Purchases of apartments jumped in the fourth quarter
Single-family home sales continue sliding in tony NYC suburbs

Yonkers, in Westchester County, New York
Photographer: DenisTangneyJr/iStockphoto via Getty Images

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By Sydney Maki

January 10, 2019 at 5:01 AM UTC

Updated on

January 10, 2019 at 2:24 PM UTC

Homebuyers in New York’s Westchester found a less-costly way to live in the county where residents pay the highest property taxes in the country: They scooped up apartments.

In the fourth quarter, sales of co-ops climbed 16 percent from a year earlier and condo transactions rose 8 percent, according to a report Thursday by appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. Purchases of single-family homes in the tony suburbs, meanwhile, fell for a sixth straight quarter.