🏡🏡Exploring the Scarsdale, NY Real Estate Market: April 2023 Analysis

 🏡🏡The Spring Real Estate Market 2023 for Scarsdale, NY

Introduction:

The real estate market in Scarsdale, NY has been experiencing significant changes, presenting both challenges and opportunities for buyers, sellers, and investors. By examining the latest data from April 2023 and comparing it with the figures from April 2022, we can gain valuable insights into the current state of the Scarsdale housing market. In this blog post, we will analyze key indicators such as single-family homes, condos, and co-ops, focusing on unit sales, median sale prices, inventory levels, days on market, months of supply, and median sale price per square foot.

Single-Family Homes Market:

Unit Sales: In April 2023, the number of single-family homes sold in Scarsdale was only 4, which represented a significant decline of 83.3% compared to April 2022. This drop indicates a slowdown in buyer activity in the current market.

Median Sale Price: Despite the decrease in unit sales, the median sale price for single-family homes in April 2023 rose by 0.9% compared to the same period last year, reaching $1,650,000. This slight increase suggests that the demand for high-end properties remains relatively stable.

Inventory: The inventory of single-family homes in Scarsdale stood at 50 units in April 2023, reflecting a substantial decrease of 41.9% compared to April 2022. This decline in inventory indicates a limited supply of available properties on the market, potentially driving up prices.

Days on Market: The average number of days that single-family homes spent on the market increased by 45.9% in April 2023, reaching 54 days. This longer time frame suggests a slightly slower pace of sales and may indicate increased competition among sellers.

Months of Supply: The months of supply metric, which measures how long it would take to sell all the current inventory at the current sales pace, decreased by 28.9% compared to April 2022, standing at 2.34 months. This decrease indicates a seller's market, as the supply is relatively limited compared to buyer demand.

Median Sale Price per Square Foot: The median sale price per square foot for single-family homes in Scarsdale was $501 in April 2023, showing a decrease of 10.9% compared to April 2022. This decline suggests a slight softening in property values.

Condo Market:

Unit Sales: Surprisingly, there were no condo unit sales in Scarsdale in April 2023, marking a considerable contrast to the same period in the previous year.

Median Sale Price: Due to the absence of sales, the median sale price for condos in April 2023 was $0, maintaining a similar trend to April 2022.

Inventory: The inventory of condos decreased significantly by 66.7% in April 2023 compared to the previous year, with only 2 units available. This decline in inventory might be a result of reduced construction activity or increased demand for condos in the area.

Days on Market: Condos in Scarsdale had an average of 0 days on the market in April 2023, suggesting a swift sales process when units are available.

Months of Supply: The months of supply for condos decreased by 55.6% in April 2023, reaching 8.00 months. Despite the limited inventory, the number of months of supply indicates that the condo market is still relatively balanced between buyers and sellers.

Median Sale Price per Square Foot: Due to the absence of sales, the median sale is 0

For the most updated information on the Real Estate Market in Scarsdale, NY click here.

 The City of Rye, NY Real Estate Market: A Review of April 2023 Data

Introduction:

The City of Rye, New York, has long been a sought-after location for homeowners looking for a picturesque suburban setting near New York City. As we delve into the real estate market data for April 2023, we gain valuable insights into the current trends and changes in the housing market. This analysis focuses on single-family homes, condos, and co-ops, shedding light on unit sales, median sale prices, inventory levels, days on market, months of supply, and median sale price per square foot.

Single-Family Homes: 8 Homes

The single-family home segment experienced a notable decline in unit sales, with only 8 homes sold in April 2023, representing a significant drop of 52.9% compared to the same month in 2022. Additionally, the median sale price for single-family homes stood at $1,685,000, down 19.8% from April 2022. The inventory of single-family homes decreased by 52.9%, indicating a limited selection for buyers. Days on market increased by a staggering 175.0%, reaching 55 days, while the months of supply decreased by 48.3% to 1.78. The median sale price per square foot also experienced a slight decrease of 2.1%, resting at $670.

Condos: 2 Units

The condo market in Rye faced a significant decline in unit sales, with only 2 condos sold in April 2023, representing a steep drop of 66.7% compared to the same month in the previous year. The median sale price for condos was $971,250, down 47.1% from April 2022. The inventory of condos decreased by 30.0%, indicating a limited supply of available units. Days on market increased by 60.6%, reaching 53 days, while the months of supply increased by 146.4% to 3.36. Interestingly, the median sale price per square foot experienced an increase of 8.0%, reaching $827.

Co-ops: 1 Unit

Co-op sales in April 2023 also witnessed a decline, with only 1 unit sold, representing a decrease of 50.0% compared to April 2022. The median sale price for co-ops was $320,000, down 52.9% from the previous year. However, the inventory of co-ops increased by 57.1%, indicating a broader range of options for potential buyers. Days on market also experienced a substantial increase of 121.0%, reaching 137 days. The months of supply increased by 47.0% to 4.26. The median sale price per square foot for co-ops decreased by 17.9%, resting at $317.

Market Analysis:

The April 2023 data indicates that the City of Rye, NY, experienced a challenging real estate market compared to the same period in 2022. The decline in unit sales across all property types suggests a general slowdown in the market. However, it is important to note that the sample size for condo and co-op sales is smaller compared to single-family homes, which may lead to more significant fluctuations in the data.

The decrease in median sale prices for single-family homes, condos, and co-ops can be attributed to various factors, such as changes in buyer preferences, economic conditions, or fluctuations in the local housing market. Additionally, the increased days on market for single-family homes, condos, and co-ops indicate a longer period for properties to sell, possibly indicating increased buyer caution or a more competitive market.

Data:

If you would like to see the market data report click herre

🏘️🏘️Exploring the White Plains Real Estate Market: An Analysis of Current Trends

 Real Estate Market for the City of White Plains, NY

Introduction:

The real estate market in White Plains, New York, has experienced some notable changes in recent times. In this blog post, we will delve into the data from April 2023 to gain insights into the current state of the market. We will analyze the sales of single-family homes, condominiums, and co-ops, along with key metrics such as median sale price, inventory levels, days on market, months of supply, and median sale price per square foot. Let's dive in!

Single-Family Homes Market

The sales of single-family homes in White Plains for April 2023 have seen a significant decline of 80.0% compared to April 2022. This decrease can be attributed to various factors such as changing buyer preferences and market dynamics. However, there is positive news regarding the median sale price, which stands at $957,500, reflecting an increase of 8.7% compared to the previous year. This rise suggests that despite the decrease in sales volume, the demand for single-family homes remains strong.

The current inventory of single-family homes in White Plains stands at 44, representing a decline of 8.3% compared to April 2022. With a relatively low inventory, potential buyers may face increased competition, which could contribute to the upward pressure on prices. The average days on market for single-family homes is 30, indicating a modest increase of 3.4% compared to the same period last year. This metric suggests that homes are staying on the market slightly longer, potentially offering buyers more time to explore their options.

The months of supply, a measure of how long it would take to sell the existing inventory at the current sales pace, stands at 2.22, reflecting an increase of 17.1% compared to April 2022. This rise suggests that the market is becoming more balanced, with a slight advantage for buyers. However, the median sale price per square foot has declined by 8.2% to $356, indicating that buyers are paying less per square foot compared to the previous year.

Condominium Market

The condominium market in White Plains has also experienced some fluctuations. The unit sales for April 2023 have decreased by 65.0% compared to the same month in 2022. This decline in sales volume could be due to various factors, including changing buyer preferences, economic conditions, or increased competition from other property types. However, there is positive news for sellers, as the median sale price has increased by 12.6% to $449,999, suggesting that demand for condominiums remains strong despite the decrease in sales.

The inventory of condominiums in White Plains currently stands at 40 units, representing a significant decrease of 32.2% compared to April 2022. The lower inventory levels might contribute to increased competition among potential buyers. The average days on market for condominiums is 78, which indicates a notable increase of 32.2% compared to the previous year. This increase suggests that condominiums are taking longer to sell, providing potential buyers with more time to consider their options.

The months of supply for condominiums stand at 2.79, indicating a decrease of 10.5% compared to April 2022. This decrease suggests a slightly tighter market, potentially favoring sellers. Moreover, the median sale price per square foot for condominiums has increased by 15.4% to $464, indicating that buyers are paying more per square foot compared to the previous year.

Co-op Sales Market

The co-op sales market in White Plains has also witnessed some changes. The unit sales for April 2023 have declined by 28.6% compared to April

Queen City of the Sound: A Tour of the City of New Rochelle

 A Quick Tour of New Rochelle

City by the Sound!

Located in Westchester County, New Rochelle is the 7th largest city in New York with a population of about 79,000. The city offers a unique blend of urban and suburban living, making it an ideal place for families, young professionals, and anyone looking for a comfortable and convenient lifestyle. In this blog post, we will take a tour of New Rochelle and explore what makes this city so special.

Convenient Location: New Rochelle is located just 38 minutes away from Midtown Manhattan by train. The city is also accessible by I-95 and the Hutchinson River Parkway, making it easy to commute to other areas of lower New York.

Parks in New Rochelle

Parks and Recreational Activities: New Rochelle is known for its lush green spaces and recreational opportunities. Some of the city's most popular parks include Davenport Park, Hudson Park, and 5 Islands park. For those who enjoy hiking and nature walks, the Colonial Walking trail off Pinebrook Blvd and the nature study woods off Webster Avenue are must-visit locations. If you love boating, fishing, running, and hiking, the city has something for you.

The New Rochelle Real Estate Market

Vibrant Real Estate Market: The real estate in New Rochelle is some of the most highly sought-after real-estate in Westchester County. Whether you're looking for a house, condo, or co-op, you'll find a variety of options to choose from in this city. With the help of a knowledgeable realtor, you can find your dream home in New Rochelle.  

In conclusion, New Rochelle is a city that offers something for everyone. From its convenient location, parks, and recreational activities to its vibrant real estate market, this city is a great place to live, work, and play. If you're looking for a comfortable and convenient lifestyle, be sure to add New Rochelle to your list of places to consider.

Important New Rochelle Links

New Rochelle Schools

Metro-North Railroad

New Rochelle Parks and Rec

Discovering Mamaroneck: A Guide to the Town in Westchester County, NY

A Quick Tour of Mamaroneck, NY  

Mamaroneck is a picturesque town in Westchester County, NY, located on the shores of Long Island Sound. With a population of 29,000 residents, Mamaroneck is home to the Village of Larchmont, which boasts its own police force and fire department. I will write up a separate post on Larchmont soon.

Mamaroneck Train Station

Transportation to and from Mamaroneck is a breeze with the Mamaroneck Metro North Train Station offering quick and convenient access to Grand Central Station with an average commute time of 38-44 minutes.  This is the Metro North Schedule.  For those who prefer to drive, the town is easily accessible via I-95 North and South, and further up on Mamaroneck Avenue, the Hutchinson River Parkway (The Hutch) North and South provides access to the Merrit parkway in Connecticut and other highways.

Food lovers will find a variety of dining options on Mamaroneck Avenue, where many of the town's restaurants, bars, ice cream, and frozen yogurt shops are located, mostly south of the Metro North Train Station.

Harbor Island

For those seeking outdoor recreation, Harbor Island is a popular destination for Kayakers, walkers, runners and swimmers with its well-maintained playground, field, walking path and large community swimming pool at the Hummock school. The pool is open year-round and converted to an outdoor pool during the summer months. 

The current Real Estate Market

As a real estate agent, I have analyzed the Mamaroneck real estate market and found that the number of sales tends to peak in the spring and summer months, with a particular high in March. The median sales price remains relatively stable throughout the year with a slight increase in the spring and summer, but fluctuations have been observed in the past few years. The highest median sales price was observed in December 2018 at $2,025,000 and the lowest in November 2021 at $879,000.

For the current real estate market in Mamaroneck is always changing.   Click this link for the most up-to-date information; Mamaroneck Real Estate Market 

The number of sales per month can vary widely, with a peak of 117 sales in March 2019 and a trough of 8 sales in April and May 2022 due to the pandemic and lack of inventory. Despite these fluctuations, the Mamaroneck real estate market remains strong with stable median sales prices and a high volume of sales. However, buyers and sellers should keep in mind that the market is unpredictable, and it's important to stay informed on current trends.

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