About Scarsdale's Scarsdale, New York

The Scarsdale NY housing market is always set somewhat apart from the body of Westchester NY. A market unto itself – it sets the trends for the rest. How homes for sale Scarsdale NY fair is often the bellwether for the rest of the market down the road. So, I was pleased to see that the real estate market of Scarsdale did very well in Q3 2010 – at least with respect to single family homes. The condo market, that I am including for the first time due to the sales at Christie Place – is too small to draw any major conclusions from – particularly since Christie Place represents a new price point for the area. But the coop market was mixed when compared to the previous year. Even the most desirable Garth Road has significant inventory. The divergence of these two markets is something that is being seen across the board and is not unique to Scarsdale.

Scarsdale NY Single Family Homes:

This was a very good year for real estate Scarsdale NY if you were selling a single family home. Median sales prices were $1,235,000 – up 23.5% over Q3 of the previous year. That price increase was in part due to the fact larger homes requiring jumbo loans started selling again. Overall sales volume was up 44% with 91 homes closing escrow. The current inventory of 112 homes is a little less than four months if you look at closed sales. However, contracts and pendings indicate a 10 month inventory. But this reflects the highly seasonal nature of that market.

Edgemont NY Single Family Homes (Scarsdale P.O.)

I include Edgemont in this group because many buyers don’t make a distinction between Edgemont and Scarsdale since Edgemont (in the town of Greenburgh) has a Scarsdale P.O. and zip code.

Prices in Edgemont made a similar move up in price with sales prices up 36.6% over the previous year to a median price of $1,195,000. Sales volume was similar to the previous year and with 34 active listings, there is a 5.6 or 4.1 month inventory on the market depending on whether you look at closed sales or current contracts.

Scarsdale NY Condos:

As previously stated, the sales volume was too low for any conclusions to be drawn. But the over 55 community at Christie Place has created a market where only a minimal market existed before. It will be interesting to see how this market develops in the future.

Scarsdale NY – Coops:

Price-wise the median sales price for coops rose 21.3%. But a closer look at the numbers shows a more modest 3.5% price increase which is probably insignificant. Call it flat. In 2009 1 BR units dominated the sales roster – while in 2010 it was 2 BR units. What is of concern is not the final sales price, but the high inventory in light of sales that were flat from the previous year – which was a slow year by any standards. The fact that demand hasn’t picked up combined with a 9-12 month inventory overhang indicates a buyers market is still in full force. This reflects weak demand for coops across the board. Although this market has held up better than most.

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 Market Statistics – First Quarter 2010

Scarsdale NY Housing Market Statistics – Fourth Quarter 2009:

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

Scarsdale Coops – Pet-Friendly Scarsdale Country Estates

Scarsdale Manor Cooperative – Garth Road -Scarsdale NY

The Chauteaux Cooperative – Scarsdale NY

Please Feel free to vist my website - The Westchester View . Click here to search for homes. I am always happy to answer your questions and you can speak to me directly on my moble phone: 914-374-5529.

© 2010 – Ruthmarie G. Hicks – http://thewestchesterview.com – All rights reserved.

When people think of real estate in Scarsdale NY they tend to think of single- family homes and high-end cooperatives with Old-World charm. Scarsdale Manor is one of the larger cooperative complexes on the famous Garth Road. The area reflects the mature elegance of Scarsdale Village and features many pre-war complexes that were converted into cooperatives in the 1980s. It is a mature community with very little space for new development.

Scarsdale Manor Complex:

Scarsdale Manor like many of the buildings surrounding it, is a pre-war complex which is reflected in the grace of the structure and the grace that the units inside convey. A 1 BR unit can range in size from 725 – 950 sf while 2 BR units range from 900-1250 sf. Many of the 1 BR units are sold as Jr.4’s . To me this is a misnomer. The extra room is really dedicated dining area – or dining room – and not truly a dedicated area like a home office as the term implies. Many of these units have been renovated from top to bottom allowing buyers to enjoy the best of the old as well as the new. And speaking of modern amenities, the complex is wired for FIOS, Cablevision and Direct TV.

Update on Scarsdale Manor Sales Prices & Sales Volume – September 2010:

1 BR Units:

So far – as of September of 2010 – there have been five sales of 1 BR units with a median sales price of $187,500. The price range went from $167,500 and $215,000 with the high end representing a fully renovated 850 sf unit with new kitchen and bath. The median price has gone down significantly when compared with the same period during 2009. From Jan- Sept 2009 the median price was $200,000 – down over 6%. Sales volume was the same.

2 BR Units:
For 2 BR units there have been four sales with a median price of $308,000. The price range was from $285, 000 for an 1100 sf unit in good condition with upgrades and $352,250 for a very large 2 BR with 2 BA with many high-end upgrades.
This was a slight increase in the median price of $292,000 from the same period during the previous year. Sales volume was slightly higher with 5 units sold during that time.

Inventory & General Market:
Currently there are 6 units on the market – five of which are 1 BR/1BA and there is one unit under contract. This creates a six month overhang of inventory which is a fairly neutral market.

In general – Garth Road currently has 56 active listings with 7 units either under contract or pending. 28 units have sold in the last six months. If you look at current contracts and pendings that indicates a 16 month supply and a 12 month supply if you look at solds over the past six months. Since the tax credit may have been a factor in sales during the earlier part of the year – this suggests a inventory of over 12 months. Scarsdale Manor is certainly one of the most desirable complexes on Garth Road – but the overall inventory in the area and the fact that inventories of coops are high in analogous areas such as White Plains, Hartsdale, Larchmont and Mamaroneck indicates that this is still something of a bear market.

Further Reading:

Scarsdale Manor – Garth Road – Scarsdale NY

Living in the Village of Scarsdale NY

Scarsdale NY Housing Market Statistics – Q2 2010

Scarsdale NY Housing Market Satistics – Q1 – 2010

© 2010 – Ruthmarie G. Hicks – http://theWestchesterView.com – All rights reserved.

Scarsdale Manor Cooperative – Garth Road -Scarsdale NY – Update Sept 2010

The Scarsdale housing market is mirroring other markets with lower Westchester NY. Real Estate Scarsdale NY represents two separate markets. One that is improving and the other that is either declining or hold steady:

A Tale of Two Markets

Single family Homes for sale Scarsdale NY – are doing well. Volume is up, inventory is down and prices are higher over Q2 2009. Edgemont (which is part of the town of Greenburgh with a Scarsdale P.O. – confirms that pattern. Cooperatives reflect another market altogether. Although sales volume is up – prices are flat. Even units on the famous Garth Road are not moving rapidly.

Single Family Homes – Scarsdale NY & Edgemont NY

Prices of Scarsdale Homes for sale were up 16% from Q2 of the previous year. The median sales price was $1,295,000 with a range between $540,000 and $3,975,000. Sales volume was up 22% over the previous year with 44 homes sold in Q2. These numbers encompass all of the elementary school zones including Edgewood Scarsdale, Fox MeadowScarsdale, Quaker Ridge Scarsdale Heathcoate Scarsdale and Greenacres Scarsdale. Inventories are low with about 4.5 months of inventory on the market when you look at current contracts and pendings.

The Homes in Edgemont showed dramatic improvement in both pricing and sales volume. Sales prices are up 57% to $1,120,000. Sales volume is up over 300% with 19 homes sold in Q2 2010. Inventories are still on the high sit with about 7.5 months of overhang on the market.

Cooperatives – Scarsdale NY

Cooperative sales prices remained flat in 2010 when compared with Q2 2009. This reflects the very soft market for Westchester coops seen throughout the county. Indeed, the Scarsdale market – including Garth Rd in the Scarsdale P.O. has done far better than similar areas with an easy commute such as White Plains and Larchmont. Median Sales price was $210,000. The price range was wide from $95,000 for a small studio to $690,000 for a 3 BR coop in the village of Scarsdale steps from the train.

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 Market Statistics – First Quarter 2010

Scarsdale NY Housing Market Statistics – Fourth Quarter 2009:

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

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

Scarsdale Coops – Pet-Friendly Scarsdale Country Estates

Scarsdale Manor Cooperative – Garth Road -Scarsdale NY

The Chauteaux Cooperative – Scarsdale NY

To Search for Homes and for further information go to my website/blog with free home search at The Westchester View.

I am always happy to answer your questions and you can speak to me directly on my moble phone: 914-374-5529.

© Ruthmarie G. Hicks – http://thewestchesterview.com – All rights reserved.

Scarsdale NY Housing Market Statistics – Second Quarter 2010

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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Anthony Stokes Pereira of Better Homes and Gardens Rand Realty

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The relationship between a home buyer or seller and their agent is based on trust, shared goals and understanding. I strive to continually improve and to do this I listen and take the needs and wants into consideration.

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