Hello, I am a local agent from Nelson-Vrooman GMAC in White Plains. I could be more helpful if you would be more specific as to your goals.
For example, if you are a house flipper with a short turn-around time, this would probably not be the best time to buy because you can not count on the same rapid appreciation of values that became the norm during the boom that ended in 2005. If you are purchasing a house or condo to live in, then this might be a good time to buy. Predicting markets is a very tricky thing in the short term, but over the long term, housing prices in this area are only going to be heading up. DO NOT try to "time" the market. By the time you realize that the market has bottomed, it will be too late to take advantage of it. Over time, real estate has been shown over and over to appreciate in value. So buying a house or condo that you will live in, it will (barring a major catastrophe) be an appreciating asset that provides a tax advantage and that you live your life in. Not a bad deal.
Just so you know, the Bronxville P.O. covers three municipalities, Eastchester, Yonkers and Mt. Vernon. There are very few available condos in the area, however there are quite a lot of co-ops for sale. For According to the MLS, Bronxville single family homes in the Eastchester municipality, has 20 current listings ranging in price from $839k-tp $3,250k in asking price. For co-ops, listing prices range from $215k to $1195k.
For houses in Bronxville Yonkers/Mt. Vernon houses range from $400k to $2295k whereas coops range from $98k to $1195 k.
Although there is some inventory, the inventory is moving as evidenced by recent sales. Don't forget that the market in lower Westchester is being driven by the NYC market. All real estate is local and you should not lump Westchester into the same slow-down that has appeared nationally. There are several locations nationally where real estate has either appreciated or remained steady. Portions of Westchester have seen mild price corrections. But the Westchester market hasn't tanked nor does it appear poised to do so.
Hope all this info is helpful.