Federal rules approved in December set a $10,000 limit on deductions for state and local taxes, which is nearly half the $17,179 average tax paid by Westchester residents in property taxes last year. The tax wasn't passed until December, but details about the proposed cap on the SALT deduction surfaced months earlier.
Also, the fact that home prices in the area have been rising much more quickly than incomes could have something to do with it.
And according to preliminary data Even before the tax changes, years of rising values were already making Westchester less affordable, said Jonathan Miller, president of Miller Samuel.
In nearby Mamaroneck, closings rose 25 percent to 127.
The median price of those deals dropped 13 percent to $1.19 million.