Archive for the 'Larchmont' Category
Larchmont NY*, like all other communities in Westchester, has been hit hard by the housing recession. But there is some light at the end of the tunnel for Larchmont. Single family Larchmont NY homes for sale are enjoying renewed strength. Resales are brisk with inventories low and prices are up over the previous year However, the coop and condo markets are showing an entirely different pattern.
Same Location – Two different Markets:
Single Family Homes – Larchmont NY
This market is actually turning into a seller’s market. There are a few pockets in Westchester NY that can make that claim and this is one of them. The price reductions over the past few years along with lower interest rates have brought buyer’s out of hiding in some select areas. Th median sales price in Q 2 2010 was $1,153, 000 – up 11% from the previous year. Sales as a whole were up 156% over the previous year. If you look at the current inventory as well as the number of Solds in Q2 along with current contracts & pending sales – you have about a 3-4 month inventory in Larchmont NY homes for sale. This puts the single family home market into more of a seller’s market than a buyer’s market. The low inventory is suggestive of price increase in the future.
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The Stonecrest Cooperative: 21 North Chatsworth Ave – Larchmont NY:
The Stonecrest of Larchmont is an elegant pre-war Tudor cooperative with a rich history in an historic village. Located on N Chatsworth Ave the location is nothing short of ideal. Few Westchester coops could compete with this location. Just steps from Metro-North and center of the village.
21 N Chatsworth Ave. has been a desired location since Lou Gehrig called the Stonecrest home. This is definitely a leave the car behind location – with a coveted “walker’s paradise” score of 92 out of 100 from walkscore.com. The train, shopping and fine dining are just steps from your door.
This is a doorman building with a common laundry. There is a waitlist for parking which can be either outdoor or indoor.
Here is your weekend Westchester events calendar. There is certainly plenty to do this considering that it is a relatively quiet summer weekend. Westchester county events always have something for everyone.
Everyday Events:
Open Gym
The County Center is open to high school students for basketball, foosball, board games, knock hockey and general socializing
6 p.m. to 10 PM – Free to all
Westchester County Center
198 Central Avenue
White Plains, NY 10606
(914) 995-4050
Thursday July 15:
Flint Park Concert
July 15, 2010, 7:15pm–9:00pm
Flint Park, Bronson Ave & Locust Ave, Larchmont
Wine-coupled dinner
July 15, 2010, 7:00pm
Plates Restaurant, 121 Myrtle Blvd, Larchmont
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Larchmont is one of the most walkable and commutable communities in lower Westchester. This is why Homes for sale Larchomt NY are actually a desired commodity even in a deep housing recession. Homes in the Murray Ave elementary school district are not technically part of Larchmont Village – but are considered to be in the unincorported portion of the of the town of Mamaroneck. However, the neighborhood boasts a Larchmont P.O. and zip code and much of it is located within walking distance of the train and the village. Depending on precise location, many have the option of leaving the car behind for the Larchmont to Grand Central commute as well as shopping and fine dining.
Looking at recent home sales in this neighborhood the data supports a neutral market – perhaps even pushing into what would be a marginal seller’s market. This distinguishes Larchmont homes for sale from many other parts of the county.
As can be seen in the chart below, prices for single family homes the Murray Ave. school district remained stable over the first six months of the year. There was an upward trend for higher-end homes with more than 4 bedrooms. Median price for a 3 BR single family home was $789.5k during the first six months of this year. Down 3.7% from the second half of 2009. 4 BR homes had a median sales price of $1,027k – with no significant change from the second half of 2009 while 5 BR+ homes had a median price of $1,370k – up from $1,198k for the second half of 2009. The median price of a house overall was $977.5k – up from $969k – or less than 1%.
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Want to know the latest Westchester Events? There is plenty to do and see so planning your calendar for Westchester County events is challenging because there is such a wealth of things to choose from – Here is a list to get you started.
Friday July 9
Build a Boat/Construya un Bote
2:30pm
Warner Library, 121 N Broadway, Tarrytown
“Living with Art Collecting Contemporary in Metro New York” 12- 5 PM
Contemporary works of art -from six metro-New York private collections. Including work from emerging as well as established artists/
$5 for adults, $3 for students/seniors
Neuberger Museum of Art – Purchase College
735 Anderson Hill Rd.
Purchase NY
914-251-6100
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Last year I wrote a post about the 4th of July events in Lower Westchester and it was a huge success. I even had people calling me for directions. Although going to the city is great – the Westchester to NYC commute can be painful on a busy holiday. And there really isn’t any need -there is plenty to do right here in Westchester. Soooooo….here’s the list for 2010.
Wednesday June 30:
Fireman’s Parade – Mamaroneck NY – Rain date – July 1
Begins at 7 PM starting near the Mamaroneck Ave. School and includes 30-40 fire departments. www.villageofmamaroneck.ny.us
63rd Annual Fireman’s Carnival – Mamaroneck NY – June 29 – July 5 – 7 PM – Midnight
This can be somewhat pricey but very worthwhile. If you plan to attend for more than one day you might consider buying an armband that covers you for every day.
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Like the rest of Larchmont, homes zoned for the Chatsworth Ave Elementary School feature the best of what a Westchester bedroom community has to offer. Homes in this particular school zone cover two distinct neighborhoods.
Homes in the Village of Larchmont:
Homes in the village of Larchmont feature tree-lined streets and pre-war homes packed with Old-World charm and character. They range in style from rambling Victorians with wrap-around porches, graceful colonials and impressive Tudors. Typically, the homes in the village sit on smaller lots, though there is still a feeling of space and privacy. These are mature neighborhoods with old-growth which adds to a sense of privacy.
Convenience is a very big amenity of this part of Larchmont. It is easy to leave the car behind and walk to shops and fine dining. Many leave the car and walk to the train and end up doing their shopping on their way home. Most locations in the village are eaily accessible by foot to Metro-North. Walk Scores range from very walkable to walker’s paradise – which is very unusual for single-family home neighborhoods.
Like the rest of the Westchester NY real estate, Larchmont homes for sale have been hit fairly hard over the past year. Nevertheless, even though the village cooperative market is still lagging somewhat the single family home market appears to be in recovery mode. And why not? In general, Larchmont has wonderful Old-World charm with all the modern amenities. The walkable neighborhoods where you can leave the car and walk to shops and fine dining along with the ability to walk to the train station from most locations make the area very desirable.
Larchmont NY Cooperatives:
The cooperative market in Larchmont is much bigger than the condo market. The average sales price on a cooperative in Larchmont was down severely from the previous year. The numbers are skewed because in 2010 – the only units that sold were 1 BR units, while in 2009 there were many more larger units sold in Q1. Using the 1 BR solds from Q1 of 2009 – prices were down about 22% over the previous year. The current average price for a 1 BR unit in Larchmont is $177,000. (down from $228,000 in 2009.) Overall sales volume was down 57% over the previous year. The inventory levels are very high – as can be seen from my chart. However, I would point out that I am gathering the current actives over a month later during the high selling season. The contracts and pendings indicate a better market – though at nearly 8 months inventory – it is still very much a buyer’s market.
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This area is not part of the Larchmont village proper – but is rather part of the unincorporated portion of the town of Mamaroneck. This small grouping of Larchmont condos and cooperatives are just a stone’s throw from both the train and the village.
Location, Location, Location:
Although the neighborhood is right next to the village as well as the train station, the area is tree-lined and not very urban in nature. The area is sandwiched between a single family residential neighborhood and the village. The area is highly walkable such that you can definitely leave the car and walk to fine dining, shopping and general errands. For the most part, buildings in this small section have a walk score of over 90 out of 100 making this section of Larchmont a Walker’s Paradise.
For walkers and bikers the beautifully landscaped Manor Park provides a wonderful escape from the day-to-day hubbub of life. One can easily stroll through the village and the single family neighborhoods as well. Many of the buildings exude old-world charm as many are from the pre-war era. Cooperatives dominate the landscape although there are a few condominium complexes as well. For more information about Larchmont including a video of the area go to Living in the village of Larchmont.
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This is a lovely area of Larchmont. Larchmont NY homes typically evokes tree-lined streets and mature neighborhoods. This area does not disappoint on any of these. The area is strictly residential – yet for the most part it is walkable neighborhood – many of the homes being a mile or less from the train station and parts of the village. Some areas are somewhat further from town – so walkability depends upon you precise location. However, many in the area opt to leave the car and walk. The streets are tree -lined and the neighborhoods are established with mature trees. Homes for sale in much of Larchmont generally tend to have a distinctively Old -World charm about them Pre-war homes. Tudors seem to dominate the area although Colonials are very much in evidence as well. But don’t let the age of these homes fool you. Most of them have aged gracefully and boast many upgrades that can give you the best of both worlds: old world charm – with modern amenities. The lot sizes run the gamut from roughly 0.12 acres to over an acre in larger homes. In general, the homes close in to the village sit on smaller lots.
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