Scarsdale, NY

The Scarsdale market began its correction towards the end of 2007. Scarsdale homes went down substantially in value through 2008. In spite of the financial meltdown at the end of 2008, the Scarsdale market has actually been firming up over the past year. Although this has not been smooth ride, there are signs that the market is stabilizing – or at least depreciating at a slower rate. In many ways the Q4 data reflects the Q2 data where year over year home values had started to nudge up. In Q3 many of these gains were erased, but they were back in the 4th quarter.

There are several issues that could derail this trend. Subsidies for mortgages will be ending putting pressure on interest rates. Further, Scarsdale is not immune to the shadow inventory of foreclosures that have yet to hit the market. the high-end will probably not be spared a share of short sales and foreclosures.

Scarsdale NY Cooperatives:

Cooperative sales prices remained stable from the previous year with the average sales price of $251,000 for both years. Sales volume was impressive when compared to the doldrums of the post-crash 2008 – up 72% over the previous year. The swollen inventories have decreased and there is only a 4.9 month inventory currently on the market. This is consistent with stable prices.

Scarsdale NY Condominiums:

Although Scarsdale is known for its find cooperatives particularly those along Garth Road (Eastchester municipality) near the village and train station. However, condominiums are few and far between. There were no sales of condos recorded on the MLS for Q4 2009. Christie Place will set the standard for condo sales in the future.

Scarsdale NY Single Family Homes:

Scarsdale homes had a very good quarter. Prices were up 24.1% over Q4 of the previous year. Inventories are down, but not out. A 6.7 month inventory is consistent with continued depreciation but in the single digits. Nevertheless, demand is way up from the near stand-still of Q4 2008 with sales volume being up 95% over the previous year.

Edegemont Single Family Homes (Scarsdale PO):

Prices were still down in Edgemont over the previous. Down 18.2% from the previous year. This drop is closer to what was seen in White Plains and Hartsdale during Q4. Sales volume was up 33% but with a 9.7 month inventory, prices are probably still falling.

An Important Note About the Criteria for the Statistics:

I handle each type of housing in Scarsdale differently. I also include a special section for single family homes in “Edgemont” which is really in the town of Greenburgh with a Scarsdale post-office and zip code.
For condominiums and cooperatives, I use the Scarsdale post office and zip code as my criteria. Many of these complexes are actually located in Greenburgh and Eastchester.

This reflects the way most buyer’s shop for housing. Coop and condo buyers work by address whereas those looking for single-family homes are often shopping municipality and school districts.

Further Reading:

Scarsdale NY – Housing and Market Statistics for Third Quarter 2009.

Housing and Market Statistics for Scarsdale NY – Second Quarter 2009.

© 2010 Ruthmarie G. Hicks, http://thewestchesterview.com. All rights reserved. Original Post:

Scarsdale NY Housing Market Statistics – Fourth Quarter 2009

First, apologies for posting this so late. A family illness has been creating a time squeeze and although this may be a bit dated, it is good to have a third quarter reference to look back on.

Scarsdale NY housing has been in the cross hairs of the housing recession for a while now. Initially, it was resistant to the correction taking place in other parts of the country. Eventually the forces that had hit other parts of the country so dramatically, came home to roost even in the most resilient areas of Westchester. Real estate values in Scarsdale NY came under prssure as inventories swelled. The drop was severe. However, some of the numbers show signs of a bottom being at hand.

Cooperatives:

The number of co-ops sold are down 15% over the previous year. This is a trend that has been seen in other parts of the county and reflects the difficulties in obtaining financing. Currently there is a nearly 8 month inventory on the market. However, prices remain slightly higher than the previous year, (5.4%) indicating a market that is stabilizing. There are some mixed signals here. the inventory is still high however, the pricing is surprisingly robust.

Single Family Homes – Scarsdale:

After a “pop” during the 2nd quarter prices have once again fallen and are down 27% over the 3rd quarter of 2008. Swollen inventories are going down. Right now inventories are approaching th 6 month mark.

Single Family Homes Edgemont -

Edgemont shares ad PO with Scarsdale, but it is actually is in the town Greenbburgh. Sales have picked up in the area leaving inventories low at about 4.4 months.

An Important Note About the Criteria for the Statistics:

I handle each type of housing in Scarsdale differently. I also include a special section for single family homes in “Edgemont” which is really in the town of Greenburgh with a Scarsdale post-office and zip code.
For condominiums and cooperatives, I use the Scarsdale post office and zip code as my criteria. Many of these complexes are actually located in Greenburgh and Eastchester.

This reflects the way most buyer’s shop for housing. Coop and condo buyers work by address whereas those looking for single-family homes are often shopping municipality and school districts.

Additional Reading:

Housing and Market Statistics for Scarsdale NY – Second Quarter 2009

Scarsdale NY – Housing and Market Statistics for First Quarter 2009

Scarsdale NY – Housing and Market Reports for 4th Quarter 2008

© 2009 Ruthmarie G. Hicks http://thewestchesterview.com. All rights reserved. Original post link:

Scarsdale NY – Housing and Market Statistics for Third Quarter 2009

COMMUNITY EVENTS by Anthony Stokes Pereira, Better Homes and Gardens Rand Realty

Anthony Stokes Pereira, Better Homes and Gardens Rand Realty is pleased to present this compilation of winter and Holiday events throughout the Hudson Valley. From our family to yours, we wish you a healthy, safe and festive holiday season!

Scarsdale, December 6, 1 PM -TRIM THE NATURE TREE

Scarsdale, December 6, 1 PM -TRIM THE NATURE TREE - Join senior naturalist Dean Fausel in making tree-trimming treats for our wildlife friends and hanging them on the Center's trees. Members-$3, Non-members-$6 per person. For More information please call (914) 723-3470 or visit www.greenburghnaturecenter.org

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For assistance with any of your real estate needs, please contact me, whether it's to get started on helping you realize your goals and dreams, or just to ask a question - no pressure, no hassle, no obligation - just a friendly conversation. I would welcome the opportunity to make a difference for you.

Anthony Stokes Pereira Office: (845) 770-2188 Cell: (845) 538-7021 Fax: (845) 624-7137 Email: anthony.stokespereira@randrealty.com www.anthonystokespereira.com

The 10583 zip code in Westchester County is the zip code for Scarsdale, New York. There are two Post Offices for this zip code, one in the Village of Scarsdale and another on Central Avenue which is an Annex. This zip code covers the Town/Village of Scarsdale and then there is the Scarsdale PO as it is known which covers areas in New Rochelle, Greenburgh, White Plains. There are several school districts where the address of a property can be in Scarsdale but the property is not in the Scarsdale School District but could be in the New Rochelle, White Plains, Ardsley, Greenburgh or Edgemont districts.

These statistics cover all of the propeties with a Scarsdale mailing address (Town/Village or Post Office):

Single Family Homes for Sale Active as of November 1, 2009: 211 this includes 29 which are in Conditional Contract which are considered active until contingencies are met.

Single Family Homes Pending (all contingencies met) as of November 1, 2009: 23

Single Family Homes Sold in November, 2009: 10

In past years the number of solds in November of each year:

10 Sold in November 2009

12 Sold in November 2008

33 Sold in November 2007

27 Sold In November 2006

25 Sold In November 2005

30 Sold in November 2004

The number of days on the market for the houses sold in November was 157 and there is a 22 month back up of inventory. These numbers indicate that this zip code is still a very strong buyers market.