Published October 2, 2026 in Market Update

Lake Peekskill has more listings, but not a fast market

By Steven Scarnati

Real estate, Lake Peekskill

The one number that changes what you should do right now: CNBC reported the average 30-year fixed mortgage rate hit 7.30% last week. That is the first time rates have topped 7% since January 2025, according to Realtor.com. Buyers are paying more to borrow. That matters for every price conversation in Lake Peekskill.

The Real Estate Data Aggregator counted 7 homes sold in ZIP 10537 over the three months ending July 31, 2026. That is a small number. Twenty new listings came to market in that same window. Supply is building faster than sales are closing.

What 5.3 months of supply actually means

The Real Estate Data Aggregator put months of supply at 5.3 for Lake Peekskill. Six months is the traditional line between a seller's market and a buyer's one. At 5.3, this market sits close to that line. It is not frantic in either direction. Buyers have a little room to compare homes. Sellers do not have the upper hand they might have had two years ago.

The Real Estate Data Aggregator shows a median of 34 days on market. That is over a month. Not every home here is moving quickly. Only 7.7% of homes went under contract within two weeks of listing, per the Real Estate Data Aggregator. So if you are pricing high and hoping for a fast offer, the data does not back that up.

Sellers are getting close to list, but not over it

The Real Estate Data Aggregator shows the average sale came in at 96.5% of list price. That is a small but real gap. Price a home at $400,000 and the average sale lands around $386,000. That gap matters. About 28.6% of homes did sell above list, so it is not impossible. But most did not.

Rates make this harder for buyers

CNBC reported the average 30-year fixed rate at 7.30% last week. Realtor.com noted rates topped 7% for the first time since January 2025. That changes what a buyer can afford at a $385,000 price point. It also means some buyers are sitting on the sidelines. That is part of why 5.3 months of supply has built up here.

The Federal Housing Finance Agency reported U.S. home prices rose 2.6% from July 2025 to July 2026. Month over month, they were up 0.3% in July on a seasonally adjusted basis. Prices nationally are still moving up, just slowly. That is the backdrop for what is happening in Lake Peekskill.

The honest read on this market

Lake Peekskill is not a seller's market right now. It is not a buyer's market either. It is close to balanced, with 13 pending sales in the pipeline per the Real Estate Data Aggregator, which is actually more than the 7 that closed. That suggests some activity is coming. But with rates at 7.30% and only 7.7% of homes going under contract in two weeks, sellers who overprice are going to sit.

One more thing: these are ZIP code numbers for 10537. One street can read very differently from the whole ZIP. A home on a quiet cul-de-sac and one near a busy road are not the same market, even if they share a ZIP code. Reply and I will tell you what the numbers look like for your specific address.