The Westchester County market made positive advances in 2017, with several metrics showing noticeable improvement. Though a slow fourth quarter contributed to a sub-par year for leasing activity, which ended 2017 at just over one million sq. ft., the market did achieve over 537,000 sq. ft. of absorbtion last year, the first time Westchester County has seen positive absorbtion in this economic cycle. This led to a year-over-year decline of 100 basis points (bps) in the overall county availability rate, to 23%-still above historic norms, but approaching equilibrium. The market achieved solid growth last year, ending 2017 with an average asking rate of $28.75, a 5.1% increase year-over-year.