Hi! My office took on an interesting marketing study this past week…. Most buyers will ask what the cost per square foot is on past sales/available properties/properties in contract. It also enables us as agents (as we all know) to offset a seemingly high priced property against the square footage of your listing, thus enabling you to price higher or lower as the case may be.
We learned that the price per square foot in New Rochelle is at 2003 prices. the median sales prices were a tad under the 2004 prices at $628, and to-date 240 properties have been sold comapred with 196 for 2009.
In Larchmont and Mamaroneck , price per square foot is at 2007 prices, the median sales prices are at $995, and to-date 237 properties have been sold compared with 160 of 2009.
With interest rates slowly rising, it is now a great time in which to purchase a home, and for any bargain hunter – the winter prices are always a tad lower!
For any real estate needs, please feel free to contact me. Best, Gay
Larchmont and New Rochelle are GREAT!