Market dynamics in towns north of New York City reflect strong demand from buyers, historically low inventory levels and relatively high mortgage interest rates, according to Houlihan Lawrence’s Q1 Market Report.

“Overall conditions remain favorable for sellers and challenging for buyers,” Houlihan Lawrence President and CEO Liz Nunan said in the report.

The number of single-family homes sold in Westchester County in Q1 dropped nearly 10 percent from Q12023, while the median sale price rose 9.4 percent, from $760,000 to $831,500. Average price per square foot rose from 6.6 percent, from $391 to $417.

The number of condominiums sold rose 8.4 percent, while the median sale price rose 7.8 percent, from $442,000 to $476,500. The number of co-ops sold dropped nearly 20 percent, while the medial sale price stayed relatively unchanged at $190,000.