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. What will the effects be with their new tax laws in each town, how will classroom sizes in Larchmont be affected?
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.
As I am writing this newsletter, I am hearing of multiple bidding in Larchmont which proves yet again that the area with its European flavor attracts buyers, the schools have great stats, and the School Board and Superintendent of Schools, Dr. Shaps, are working hard to keep parents informed on the subject of overcrowding and the possible solutions to keep everyone happy.
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.. It will be interesting to see if the inventory will be larger in Larchmont this year, and where the sales will go. (I will cover that mid year!).
Murray Avenue Elementary School
The inventory was far lower in 2017, in the different price points up to $1,199, 000 Million. A similar number of homes sold in the higher priced homes over $1.2 Million. 
$0- $999,000 There were 21 homes sold in 2017 in this price range ranging from $630,000 to $823,340
with an average price per square foot of $468.54 and a sales price to original list price ratio of 97.40%. 8 homes sold over list price.
In 2016, 40 homes sold in this price range with an average price per square foot of $468.65, and an average sales price to original list price ratio of 98.14%.
$1,000,000 – $1,199,000 Six homes sold in this price range in 2017 with an average price per square foot of $466.94 and an average sales price to original list price ratio of 99.02%. Four of the six homes sold over list price.
In 2016, 25 homes were sold in this price range with an average price per square foot of $514.27, and an average sales price to original list price ratio of 101.47%. 14 homes sold over list price.
$1,200,000 – $1,500,000 15 homes sold in this price range with an average price per square foot of $515.02 and an average sales price to original list price ratio of 101.52%. 11 homes sold over list price.
In 2016, 18 homes sold in this price range with an average price per square foot of $504.86, and an average sales price to original list price ratio of 102.50%. 11 homes sold over list price.
$1,501,000 – $1,999,99919 homes sold in this price range with an average price per square foot of $494.67, and an average sales price to original list price ratio of 100.65%. 11 homes sold over the list price.
In 2016, 22 homes were sold in this price range with an average sales price to original list price ratio of 99.78%. 11 homes sold over list price.
$2,000,000 and higher! 10 homes sold in this price range with an average price per square foot of $468.01 and an average sales price to original list price ratio of 91.30%.
In 2016, 11 homes sold in this price range with an average price per square foot of $470.84, and an average sales price to original list price ratio of 92.48%. 3 homes sold over list price.
Chatsworth Elementary School
There were 74 homes sold in 2017 and 95 homes were sold in 2016. Inventory was lower, but were prices?
$0-$799,000 There were 6 homes sold in this price range in 2017 ranging in price with an average price per square foot of $442.49 and an average sales price to original list price ratio of 96.30%. One home sold over list price.
In 2016, 13 homes were sold in this price range with an average price per square foot of $389.85, an average sales price to original list price ratio of 94.44%. 2 homes sold over list price.
$800,000 – $999,000. Ten homes sold in this price range in 2017 with an average price per square foot of $465.47 and with an average sales price to original list price ratio of 103.84%. 6 homes sold over list price.
On 2016, 16 homes were sold in this price range with an average price per square foot of $461.84, and an average sales price to original list price ratio of 99.19%. 7 homes sold over list price.
In homes priced between $1 Million and $2,000,000, number of homes sold and price per square foot were similar in both years. Homes priced over 2 Million obtained higher price per square foot in 2016, and more homes were sold in that period also.
$1,000,000 – $1,199,000 Ten homes sold in this price range in 2017 with an average price per square foot of $522.42 and an average sales price to original list price ratio of 101.51%. 6 homes sold over list price.
In 2016, 10 homes were sold in this price range with an average price per square foot of $556.01, and an average sales price to original list price ratio of 105.66%. 7 homes sold over list price.
$1,200,000 – $1,499,000 13 homes sold in this price range in 2017 with an average price per square foot of $585.26 and an average sales price to original list price ratio of 101.81%. 8 homes sold over list price.
In 2016, 10 homes sold in this price range with an average price per square foot of $558.37, and an average sales price to original list price ratio of 106.09%. 7 homes sold over list price.
$1,500,000 – $1,999,00013 homes sold in this price range in 2017 with an average price per square foot of $578.83 and an average sales price to original list price ratio of 99.52%. 7 homes sold over list price
In 2016, 16 homes sold in this price range with an average price per square foot of $575.85, and an average sales price to list price ratio of 98.58%. 6 homes sold over list price.
$2,000,000 – $2,999,000 19 homes sold in this price range with an average price per square foot of $547.22 and an average sales price to original list price ratio of 95.07%. 5 homes sold over list price.
In 2016, 23 homes were sold in this price range with an average price per square foot of $627.92, and an average sales price to original list price ratio of 98.48%. 9 homes sold over list price.
$3,000,000 + 3 homes sold in this price range with an average price per square foot of $655.24 and an average sales price to original list price ratio of 94.68%.
In 2016, 6 homes sold in this price range with an average price per square foot of $755.16, and an average sales price to original list price ratio of 92.73%.
Central Elementary School
Sales in this district indicated more buyers seeking a home in 2016 than in 2017 with more homes being sold. However, price per square foot was higher in 2017.
$0-$799,000 Ten homes sold in this price range with an average price per square foot of $433.28 and an average sales price to original list price ratio of 99.52%. 4 homes sold over list price.
In 2016, 26 homes sold in this price range with a price per square foot of $394.44, and an average sales price to original sales price ratio of 97.42%. 10 homes sold over list price.
$800,000 – $999,000 Seven homes sold in this price range with an average price per square foot of $493.76, and an average sales price to original list price ratio of 102.71%. Five homes sold over list price.
In 2016, 10
homes sold in this price range with an average price per square foot of , and an average sale pricetooriginal list price ratio of
$417.1598.06%.
Four homes sold over list price.
$1,000,000 – $1,199,000 Two homes sold in this price range with an average price per square foot of $514.50, and an average sales price to original list price ratio of 104.77%. One home sold over list price.
In 2016, 9 homes sold in this price range with an average price per square foot of $511.36, and an average sales price to list price ratio of 107.22%. 5 homes sold over list price.
$1,200,000 – $1,999,000 6 homes sold in this price range with an average price per square foot of $523.42 and an average sales price to original list price ratio of 103.77%. Four homes sold over list price.
In 2016, 14 homes sold in this price range with an average price per square foot of $485.05, and an average sales price to original list price ratio of 99.94%. 9 homes sold over list price.
$2000,000 + One home sold in this price range with a price per square foot of $566.97 and an average sales price to original list ratio of 100%.
In 2016, 13 homes sold in this price range with an average price per square foot of $503.15, and an average sales price to original list price ratio of 93.30%. 4 homes sold over list price.
Mamaroneck Avenue
A similar number of homes were sold in both years indicating a steady market.
$0-$599,000 Thirteen homes sold in this price range in 2017 with an average price per square foot of $321.07 and an average sales price to original list price ratio of 95.11%. Three homes sold over list price.
In 2016, 14 homes sold in this price range with an average price per square foot of $284.27, and an average sales price to original list price ratio of 92.92%. 3 homes sold over list price.
$600,000 – $799,000 Sixteen homes were sold in this price range with an average price per square foot of $347.61 and an average sales price to original list price ratio of 101.55%. Nine homes sold over list price.
In 2016, 10 homes sold in this price range with an average price per square foot of $338.58, and an average sales price to original list price ratio of 97.36%. 3 homes sold over list price.
$800,000 -$999,000 Nine homes sold in this price range in 2017 with an average price per square foot of $350.56 and an average sales price to original list price ratio of 101.26%. Four homes sold over list price.
In 2016, 4 homes sold in this price with an average price per square foot of $297.20, and an average sales price to original list price ratio of 89.48%. No homes sold over list price.
$1,000,000 -$1,199,000 Two homes sold in this price range in 2017 with an average price per square foot of 386.52
and an average sales price to original list price ratio of . One home sold overlist price 100.38%
In 2016, 4 homes sold in this price range with an average price per square foot of $279.1sales price to original list price ratio of 92.33%. No homes sold over list price.
$1200,000 + Two homes sold in this price range with an average price per square foot of $397.92 and an average sales price to original list price of 98.12%.
In 2016, 6 homes sold in this price range with an average price per square foot of $376.57, and an average sales price to original list price ratio of 90.15%. 2 homes sold over list price.
Rye Neck School District
This School District also incorporates the Shore Acres area, and so homes with water views and on the waterfront always sell for more.
Sales were similar in all price ranges.
$0-$599,000 Twelve homes sold in this price range with an average price per square foot of $385.23 and an average sales price to original list price ratio of 94.68%. Four homes sold over list price.
In 2016, 13 homes were sold in this price ratio and an average price per square foot of $367.61, and an average sales price to original list price ratio of 96.95%. 4 homes sold over list price.
$600,000 – $799,000 Eight homes sold in this price range with an average price per square foot of $460.02 and an average sales price to original list price ratio of 97.62%. Two homes sold over list price.
In 2016, 8 homes sold in this price range with an average price per square foot of $362.77 and an average sales price to original list price ratio of 95.02%. 2 homes sold over list price.
$800,000 – $999,000 Ten homes sold in this price range in 2017 with an average price per square foot of $367.34 and an average sales price to original list price ratio of 95.25%. Three homes sold over list price.
In 2016, 8 homes sold in this price range with an average price per square foot of $394.87, and an average sales price to original list price ratio of 102.51%. 6 homes sold over list price.
$1,000,000 -$1,199,000 Five homes were sold in this price range with an average price per square foot of $379.20 and an average sales price to original list price ratio of 88.62%. One home sold over list price.
In 2016, 6 homes sold in this price range with an average price per square foot of $363.31, and an average sales price to original list price ratio of 97.60%. One home sold over list price.
$1,200,000 – $1,495,000 12 homes sold in this price range with an average price per square foot of $451.51, and an average sales price to original list price ratio of 95.27%. 5 homes sold over list price.
In 2016, 12 homes sold in this price range with an average price per square foot of $443.95, and an average sales price to original list price ratio of 94.52%. 4 homes sold over list price.
$1,499,000 – $1,999,000 14 homes were sold in this price range with an average price per square foot of $487.21, and an average sales price to original list price ratio of 96.31%. 5 homes sold over list price.
In 2016, 12 homes sold in this price range with an average price per square foot of $416.38, and an average sales price to original list price ratio of 93.21%. 3 homes sold over list price.
$2,000,000 + Five homes sold in this price range ranging from $2,050,000 to $3,750,000 with an average price per square foot of $489.64 and an average sales price to original list price of 89.59%.
In 2016, 6n 2016, 6 homes sold in this price range with an average price per square foot of $ homes sold in this price range with an average price per square foot of $493.40, and an average sales price to original list price ratio of 89.67%.
Larchmont is GREAT!
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