Chappaqua NY real estate has 140 homes on the market currently. Over the last six months 38 homes have sold. At that rate there is an unsold inventory of 22.11 months.
Currently Chappaqua has a large over supply of homes for sale. Prices will be coming down another 10-15% over the next few years as they try to work off this huge supply.
There does not seem to be any sign of a big increase in buyers over the near term. If a lot of homes come off the market supply will drop but at the current level prices need to come down significantly.