What's going on with the market in Westchester County, NY (Pound Ridge), where homes are selling 24% over asking?

We don't know that submarket intimately, so we won't pretend to. The broad pattern across much of the Northeast is a supply shortage: demand sits high relative to the number of homes for sale, and when inventory is that tight, well-located listings draw multiple offers and sell meaningfully over asking. Supply and demand explain most of it. The hard part is that no clever trick fixes a genuine inventory shortage for you. The only real cure is more homes coming to market. And counterintuitively, cheaper money wouldn't help a market like this. If rates fell, more buyers would pour into the same limited pool and intensify the bidding rather than relieve it. Our advice in a tight-supply market is to stick to your guns: - Decide in advance what a given home is worth to you and what payment you can comfortably hold. - Let that number govern your offer, and don't let the auction adrenaline take over. - Be prepared to lose a few before the right one lines up at a number that works. Winning at any price isn't winning. The goal is the right house at a price you can live with for years, and in a low-inventory market that mostly comes down to patience.