While I had wanted to post year end stats in a detailed breakdown by price point and zip code for each town, I also wanted to wait and a see how the year was PROGRESSING. For example, what will the effects be with their new tax laws in each town.
Each year brings new challenges whether for the buyers or sellers, and we, as Realtors, endeavor to sense how the market will develop even though past sales always play a huge part in pricing.
I realize that real estate can be touted across the United States as being strong, great, a seller’s market, etc., but we must always look to the real estate on a local level. Always. There are always market trends locally that will dictate how we list, price a home, and aid us in the bidding process also.
The buyers are ‘out there’. When we look at the sales stats below, we can readily see that homes priced less were more apt to sell quickly, and there was a softening the higher priced homes in all areas. Buyers as a rule do not want to ‘do the renovation themselves’ and are seeking homes that are renovated. Interest rates were low, and still are (Fixed rate right now around 3.78 for a 15 year fixed loan), but it is always easier to buy a renovated home as the renovation costs have been incorporated into the sales price..
I am quite hopeful for 2018 based on the people I am seeing at the open houses, and time will tell! There are always people who need to sell, who need to buy, and when you look at the costs of private schools in the city compared to our great schools in the suburbs, with all of the other added advantages such as beaches, water sports, golf, tennis, sports programs, Westchester is a great place in which to reside!
Since New Rochelle is a city, and has different zip codes, I always like to break down the home sales prices by zip code, Elementary School and different price points.
New Rochelle 10804
This would cover both Davis and Ward Schools but since many people search by zip code, I thought I would first include them together, and then separate by Elementary School. However, since this is by zip code, the 10583 (Davis School) would not be covered in this compilation. Davis School is reflected precisely below.
$0-599,000 There were 21 homes sold in 2017 with an average price per square foot of $311.90, sales price to original list price ratio of 93.59%. There were 5 homes that sold over list price.
In 2016, there were 36 homes sold with an average price per square foot of $287.50, and an average sales price to original list price ratio of 94.39%. 10 homes sold over list price.
It would at first glance appear that the inventory was lower in 2017 with a slight softening on the sales price. However, when we look into the next price point of $600,000 -$799,000, we can see that a few more homes were sold in 2017, so the market indicates that people priced higher based on the stronger sales market, , obtaining a slightly less price per square foot but still with 25 homes selling over the list price. The market is very robust in this price point.
$600,000- $799,000 There were 76 homes sold in 2017 with an average price per square foot of $318.16, sales price to original list price ratio of 96.47%. 25 homes sold over list price.
In 2016, 68 homes were sold in this price range with an average price per square foot of $325.83, and an average sales price to original list price ratio of 96.07%. 15 homes sold over list price.
$800,000 – $999,000 There were 36 homes sold in 2017 with an average price per square foot of $322.22, sales price to original price ratio of 95.35%. 12 homes sold over list price. 9 homes sold over list price.
In 2016, 33 homes sold in this price range with an average price per square foot of $305.60, and an average sales price to original list price ratio of 94.14%. 7 homes sold over list price.
Once again, more homes were sold in 2017 in the $800-999,000 price point, reflecting a stronger market in this price range.
In the Million to $1,199,000 price range, prices stayed approximately the same. However, as an active agent, I would interject that the buyers were seeking perfection more so than ever before!
$1,000,000 – $1,199,999 14 homes sold in 2017 with an average price per square foot of $309.62, sales price to original list price ratio of 93.08%. 3 homes sold over list price.
In 2016, 15 homes were sold in this price range with an average price per square foot of $303.96, and an average sales price to original list price ratio of 93.59%. One home sold over list price.
$1,200,000 – $1,499,000 11 homes sold in the price range in 2017 with an average price per square foot of $301.74, and an average sales price to original list price ratio of 94.20%. 2 homes sold over list price.
In 2016, 13 homes were sold in this price range with an average price per square foot of $343.53, and an average sales price to original list price ratio of 92.46%. 4 homes sold over list price.
The market was again a tad stronger in 2016 in the higher price ranges with higher price per square foot.
$1,500,000 + 4 homes sold in this price category in 2017 with an average price square foot of $316.74, and a sales price to original list price ratio of 90.26%. One home sold at list price.
In 2016, 6 homes were sold in this price range with an average price per square foot of $337.62, and an average sales price to original list price ratio of 86.77%.
William B. Ward School
When we break down the two elementary schools, we start to see the different appeal of each area. More homes sold in this price point in 2016, but once again, we are seeing slightly more homes selling in 2017 in the next price point. Price were square foot was quite similar in the lesser priced homes, but increased nicely in the next price point.
$0-$599,000 29 homes sold in this price range with an average price per square foot of $244.64, and an average sales price to original list price of 96.43%. Eight homes sold over the original list price.
In 2016, 43 homes sold in this price range with an average price per square foot of $246.28, and an average sales price to original list price of 94.49%. 3 homes sold over list price.
$600,000 – $799,000 56 homes sold in this price range in 2017 with an average price per square foot of $305.74, and an average sales price to original list price ratio of 96.06%. 7 homes sold over list price.
In 2016, 51 homes sold in this price range with an average price per square foot of $306.72, and an average sales price to original list price ratio of 96.35%. 6 homes sold over list price.
In the $800,000 – $999,000 price range, the sales were very similar year over year.
$800,000 – $999,000 23 homes sold in this price range in 2017 with an average price per square foot of $288.36, and an average sales price to original list price ratio of 96.19%. 6 homes sold over the list price.
In 2016, 25 homes sold in this price range with an average price per square foot of $289.43, and an average sales price to original list price ratio of 93.35%. 6 homes sold over list price.
In the $1,100,000 – $1,199,000 price range, prices per square foot were higher in 2017 which was great, a few more homes were sold also, but more homes were sold in the $1.2 -$1,499,000 price range in 2016 and with a higher price per square foot.. So, a little softer in 2017.
$1,000,000 – $1,199,000 18 homes sold in the price range with an average price per square foot of $312.79, and an average sales price to original list price ratio of 93.71%. 3 homes sold over list price.
In 2016, 13 homes were sold in this price range with an average price per square foot of $293.87 and an average sales price to original list price ratio of 94.96%. 2 homes sold over list price.
$1,200,000 – $1,499,000 7 homes sold in this price range with an average price per square foot of $300.92, and an average sales price to original list price ratio of 94.86%. 2 homes sold over the list price.
In 2016, 10 homes were sold in this price range with an average price per square foot of $324.52, and an average sales price to original list price ratio of 89.12%. 2 homes were sold in this price range.
$1,500,000 + 3 homes sold in this price range in 2017 with an average price per square foot of $350.48 and an average sales price to original list price ratio of 89.90%. One home sold over list price.
In 2016, 4 homes were sold in this price range with an average price per square foot of $318.53, and an average sales price to original list price ratio of 81.99%. One home sold over list price.
It is always interesting to see how certain homes sell, and some don’t, and when I look at the higher priced sold homes (over $1.5), it should be noted that one new home sold in 2017, plus two beautiful homes (one with a profit from when it was purchased, and the other home sold for $580000 less than its original sales price. This tells us that the market was not sustaining the higher priced homes in this area.
George Davis Elementary School – Larchmont Woods and Beechmont
As we look to the Davis Elementary School area, it is apparent that the homes sell for higher amounts, which would indicate a more desirable area. In the $600,000 – $799,000 price range, prices were stronger in 2017. Traditionally, the homes in Larchmont Woods and the Beechmont area, perhaps because of their closer proximity to Larchmont, tend to be valued higher and sell for more. Plus, there is a beautiful estate area in the Beechmont area.
$0-$599,000 One home sold in this price range in 2017 with a price per square foot of $306.46, and an average sales price to original list price ratio of 87.76%.
In 2016, 2 homes sold in this price range at an average price per square foot of $198.45, and an average sales price to original list price ratio of 95.38%.
$600,000 – $799,000 8 homes sold in this price range in 2017 with an average price per square foot of $361.27, and an average sales price to original list price ratio of 100.99%. 5 homes sold over list price.
In 2016, 8 homes sold in this price range with an average price per square foot of $346.45, and an average sales price to original list price ratio of 96.18%. One home sold over list price.
More homes sold in 2017 in the $800,000 – $999,000 price range with a higher price per square foot – all indicating a slightly stronger market.
$800,000 – $999,000 15 homes sold in this price range in 2017 with an average price per square foot of $363.83, and an average sales price to original list price ratio of 95.90%. 7 homes sold over the list price.
In 2016, 10 homes were sold in this price range with an average price per square foot of $342.79, and an average sales price to original list price ratio of 97.78%. 3 homes sold over list price.
2017 proved to be a stronger market in the $1,000,000 – $1,199,000 price range. The buyers were out there!
$1,000,000 – $1,199,000 5 homes sold in this price range in 2017 with an average price per square foot of $334.26, and an average sales price to original list price ratio of 99.13%. 2 homes sold over list price.
In 2016, 3 homes sold in this price range with an average price per square foot of $313.49 and an average sales price to original list price ratio of 90.80%.
$1,200,000 – $1,499,000 3 homes sold in this price range with an average price per square foot of $336.82, and an average sales price to original list price ratio of 94.90%.
Just like in the Ward School area, sales of the higher priced homes were a little softer in 2017.
In 2016, 6 homes were sold in this price range with an average price per square foot of $375.52 and an average sales price to original list price ratio of 100.95%. 4 homes sold over list price.
$1,500,000 One home sold in this price range in 2017 at $1.9 Million, price per square foot of $215,49 and a sales price to list price ratio of 91.35%.
In 2016 4 homes sold in this price range with an average sales price of $398.27 and an average sales price to list price ratio of 100.20%. 2 homes sold over list price.
Davis Elementary School –
This area is closer to the Scarsdale area, and some homes can feature a Scarsdale P.O. which can be confusing to buyers, but still New Rochelle. Prices per square foot were higher in 2017 -indicating a stronger market yet again.
$0-$599,000 18 homes sold in this price range with an average price per square foot of $336.46, and an average sales price to original list price ratio of 97.85%. 8 homes sold over list price.
In 2016, 23 homes sold in this price range with an average price per square foot of $307.06, and an average sales price to original list price ratio of 97.34%. 9 homes sold over list price.
$600,000 – $799,000 39 homes sold in this price range with an average price per square foot of $338.44, and an average sales price to original list price ratio of 98.31%. 18 homes sold over list price.
In 2016, 34 homes sold in this price range with an average price per square foot of $321.57, and an average sales price to original list price ratio of 95.43%.
$800,000 – $999,000 10 homes sold in this price range in 2017 with an average price per square foot of $336.17 and an average sales price to list price ratio of 98.71%. 5 homes sold over list price.
In 2016, 9 homes sold in this price range with an average price per square foot of $296.34, and an average sales price to original list price ratio of 94.49%. One home sold over list price.
$1000,000 – $1,199,000 5 homes sold in this price range with an average price per square foot of $335.09 , and an average sales price to original list price ratio of 94.30%.
In 2016, 1 home sold in this price range with a price per square foot of $313.49 and an average sales price to original list price ratio of 90.80%.
$1,200,000 – $1,499,000 7 homes sold in this price range in 2017 with an average price per square foot of $343.99, and an average sales price to original list price ratio of 96.45%. 2 homes sold over list price.
In 2016, no homes sold in this price range.
No homes sold over $1.5 in 2016.
Webster Elementary School
Webster Elementary School is a Humanities Magnet School . 2017 had a higher price per square foot in the lesser priced priced homes, but was higher in the $600,000 – $999,000 price ranges in 2016.
$0-599,000 20 homes sold in this price range with an average price per square foot of $278.06, and an average sales price to original list price ratio of 94.73%. 6 homes sold over list price.
In 2016, 17 homes were sold in this price range with an average price per square foot of $251.42, and an average sales price to original list price ratio of 93.71%. 3 homes sold over list price.
$600,000 – $799,000 13 homes were sold in this price range in 2017 with an average price per square foot of $267.40 and an average sales price to original list price ratio of 98.62%. 5 homes sold over list price.
In 2016, 12 homes were sold in this price range with an average price per square foot of $279.15, and an average sales price to original list price ratio of 97.92%. 6 homes were sold over list price.
$800,000 – $999,000 1 home sold in this price range with an average price per square foot of $255.80 and an average sales price to original list price ratio of 101.26% The home sold over list price.
In 2016, 2 homes were sold in this price range with an average price per square foot of $315.55, and an average sales price to original list price ratio of 105.83%. Both homes sold over list price.
$1,000,000 + One home sold for $1,025,000 with an average price per square foot of $418.37 and an average sales price to original list price ratio of 114.14%.
In 2016, No homes were sold in this price range or higher.
Columbus Elementary School
0 – $599,000 – 7 homes sold in the area ranging in price from $110,000 to $590,000 with an average price per square foot of $255.12 and an average sales price to original list price ratio of 93.63%. 4 homes sold over list price..
In 2016, 10 homes were sold in this price range with an average price per square foot of $228.48, and an average sales price to original list price ratio of 92.98%.
Nothing was sold higher in 2017
In 2016, one home was sold at $625,000 with a price per square foot of $350.93, and a sales price to list price ratio of 107.94%.
Jefferson Elementary School District
2016 was slightly stronger than 2017. However, in homes priced between $600,000 – $799,000 price per square foot was higher in 2017.
$0-$599,000 16 homes sold in this price range in 2017 with an average price per square foot of $276.06, and an average sales price to original list price ratio of 94.14%. 6 homes sold over list price.
In 2016, 12 homes were sold in this price range with an average price per square foot of $262.52, and an average sales price to original list price ratio of 101.46%. 7 homes sold at or over list price.
Homes $600,000 -$799,000 2 homes sold in this price range with an average price per square foot of $288.57, and an average sales price to original list price ratio of 96.40%. One home sold over list price.
In 2016, 4 homes sold in this price range with an average price per square foot of $206.19, and an average sales price to original list price ratio of 96.85%.
Trinity Elementary School
This school district also covers the waterfront communities , and so you will always see a vast disparity in sales prices, depending upon where the home is located. People love water views! More homes sold in 2016 in the price ranges up to $799,000. Prices were similar in the home sales over $1.2 Million.
$0-$599,000 23 homes sold in this price range with an average price per square foot of $254.25, and an average sales price to original list price ratio of 96.07%. 7 homes sold over list price.
In 2016, 36 homes were sold in this price range with an average price per square foot of $262.55,and an average sales price to an original list price ratio of 96.74%.
$600,000 – $799,000 7 homes sold in this price range with an average price per square foot of $277.48, and an average sales price to original list price ratio of 96.98%. 2 homes sold over list price.
In 2016, 12 homes were sold in this price range with n average price per square foot of $273.25, and an average sales price to original list price ratio of 97.22%. 3 homes sold over list price.
$800,000- $999,000 One home sold in this price range with a price per square foot of $265.97, and an average sales price to original list price ratio of 90.90%.
In 2016, no homes were sold in this price range.
$1,000,000 – $1,199,000 Nothing in this price range was sold.
In 2016, no homes were sold in this price range.
$1,200,000 – $1,500,000 Two homes sold in this price range with an average price per square foot of $487.43, and an average sales price to original list price ratio of 97.41%. One home sold over list price.
In 2016, 2 homes were sold in this price range with an average price per square foot of $495.47, and an average sales price to original list price ratio of 91.38%. One home sold over list price.
$1,500,000 – 4 homes sold in this price range with an average price per square foot of $348.46 and an average sales price to original list price ratio of 94.78%.
In 2016, two homes were sold in this price range with an average price per square foot of $401.20, and an average sales price to original list price ratio of 94.14%.
It should be noted that there are several homes listed in the New Rochelle ‘Choice School’ category but the majority of those homes were listed incorrectly by agents who were not local. While I could include them in the correct categories, I have decided to leave them out as they would not be shown in a search, and could be confusing.
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New Rochelle is GREAT!
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