Katonah, NY

Katonah is a small town in Westchester County, New York, with a population of just over 10,000. It is located about 30 minutes north of midtown Manhattan and 45 minutes south of Albany. The town is known for its gated communities and luxury homes.

Real estate in Katonah has been very expensive for years, with median home prices reaching $2 million or more. This has made it an attractive place to live for people who can afford it, but it has also made it difficult for people who are not wealthy to buy a home there. In recent years, the prices have started to come down a bit, but they are still very high compared to other places in the United States.

One reason that real estate prices are so high in Katonah is that the town has a lot of wealthy people living there. Many of the homes in the town were built by developers who targeted wealthy buyers, and now those buyers are continuing to buy homes there even though prices have gone up significantly over the past few years.

Another reason why real estate prices are high in Katonah is that there is not much available for sale outside of the gated communities. Most of the housing stock in the town was built decades ago and does not meet modern standards (for example, many homes do not have air conditioning). As a result, most people who want to buy a home in Katonah must purchase one within one of the gated communities or pay very high prices for an apartment outside one of those communities.