Firstly, the buyers seem to be searching for everything new… They would rather spend more and find a new home as opposed to buying and renovating. If a home must be renovated, then price is tantamount to success. Larchmont is very ‘hot’ right now, as is Scarsdale (however I have heard that since Scarsdale is going through the re-assessment process, the sellers are seeking to leave and avoid those even higher taxes). Bronxville has quieted down… My personal thoughts are the homes that are entering the market are well over 2 Million dollars, and that coupled with the high taxes perhaps are just to high for this current market to sustain?
New Rochelle homes are selling in pockets. What is that? Well, I certainly do not mean pocket listings which are frowned upon and with good reason , but rather homes in different price points are selling well, whereas other homes are ‘sitting there.’ There was a burst of activity earlier this year in the first few months, and while the homes priced between $400 – 700,000 are being shown and sold, the higher priced homes not as much. However, those homes that were renovated, pristine and priced higher did sell within reason… meaning value was important as was location, presentation, condition, etc. Larchmont Woods has always been popular due to its close proximity to Larchmont and the train station and village there.
Houlihan Lawrence (Larchmont office) has had 131 sales, with only 80 from our next competitor. we have 60 listings, compared to 45 with our next competitor, and with our company introducing a brand new web site this upcoming week – we are positioned to do even better in the market place. As an aside, our Greenwich office is now second in sales and production and only after 6 months! There is Chinese web site entitled Juwai.com which means (Home Abroad). Remember that China does not allow Google, Youtube, and limits many other web sites.. and so where to advertise the homes? Juwai.com is one, and our company will be advertising all homes priced over $1 Million Dollars. It is a fact that 90% of the Chinese buyers spend all cash, and 80% of the Chinese investors are seeking to purchase overseas. Why not your home? SO list with Houlihan Lawrence, and better still, market your home through me! Ha! The domain name of Homes Abroad.com is taken, but I was able to obtain http://www.Homes-Abroad.net!
In 2013, homes sold in New Rochelle : there were 71 homes sold between January 1st and May 2nd, with a Median Sales price of $537,500 and price per square foot of $245.81. Homes sold between the sales price of $235,000 and $2,200,000.
In 2014, homes sold in New Rochelle: there were 57 homes sold between January 1st, 2014 and May 2nd, with a Median sales price of $665,000 and price per square foot of $665,000. Homes sold between $330,000 (my sale!) and $1,925,000. I thought this is interesting as it takes us from January 2004 when the market was very active to April 2014 so you can actually see the historic sales price trend… You can clearly see that the market is ‘coming back.’ Below – you can see (while median prices) the original list price compared to sales prices.. again indicating to us that the market is returning…
New Rochelle is GREAT!