Archive for the 'Villages/Towns' Category
The Westchester NY real estate market has been in turmoil over the past 18 months since the stock market crash of 2008. Many parts of the county are still in decline, but some areas are perking up with lower inventories and lower prices. A few areas in the county are starting to see minor price increases. Real estate in Scarsdale NY is one such area. In general, this should be no surprise since there has always been a demand for Scarsdale NY homes. Such homes also include Scarsdale coops which are also quite desirable.
Scarsdale NY Single Family Homes – Scarsdale Schools
The average price for Scarsdale homes for sale – saw an average price increase of about 14% to $1,437,000. Although prices had not truly increased in such a dramatic way. It points to health in the market because is shows that higher end homes are actually closing. The banking crisis kept the larger homes out of the market place in Q1 of 2009. So this increase reflects a broadening of the viable market and not a true price increase. The price range of solds was far broader in 2010 than in Q1 of 2009. Prices ranged from $558,000 to $3,625,000.
Looking at sold listings, the inventory on the market is considerable over 15 months. However, if you look at contracts and pendings – the picture is brighter with a little more than five months of inventory. But that assumes that everything under contract will sell. The truth lies somewhere in between. This is still a buyer’s market – but it is definitely not a fire sale.
Edgemont Single Family Homes – Edgemont Schools – Scarsdale P.O.:
Average housing prices increased in Edgemont as did sales volume which was up 200%. The average sales price at the end of the first quarter was $1,608,000 – up from $840,000 at the end of Q1 in 2009. Interestingly, the price of lower end homes was static, but the price increase reflects the fact that higher end homes are now selling again. For example the highest priced home that sold in Q1 of 2009 was $1.1 million. But in Q1 in 2010 the highest priced closing was $4.2 million. So prices haven’t risen dramatically – but the price range closed sales has increased dramatically. There is still considerable inventory on the market – so this is still very much a buyer’s market. With respect to closed sales in Q1 there is a 15 month inventory. But there are many contracts and pendings in the pipeline. If you use that as your benchmark – the inventory is a little over six months.
Scarsdale NY Cooperatives:
Cooperatives in Scarsdale – including Garth Road with a Scarsdale P.O. – showed moderate gains in prices – up 3.8% over Q1 in 2009. The average sales price in Q1 of 201 was $246,000. Sales volume was static from the previous year and inventory vs. closings indicates that there is a 9.7 month supply of active listings if you look at closed sales from Q1 2010. Looking at contracts and pendings that goes down to 6.5 months.
An Important Note About the Criteria for the Statistics:
I handle each type of housing in Scarsdale differently. I also include a special section for single family homes in “Edgemont” which is really in the town of Greenburgh with a Scarsdale post-office and zip code.
For condominiums and cooperatives, I use the Scarsdale post office and zip code as my criteria. Many of these complexes are actually located in Greenburgh and Eastchester.
This reflects the way most buyer’s shop for housing. Coop and condo buyers work by address whereas those looking for single-family homes are often shopping municipality and school districts.
Further Reading:
Scarsdale NY Housing Market Statistics – Fourth Quarter 2009:
Scarsdale NY – Housing and Market Statistics for Third Quarter 2009:
Housing and Market Statistics for Scarsdale NY – Second Quarter 2009:
Scarsdale Coops – Pet-Friendly Scarsdale Country Estates
Scarsdale Manor Cooperative – Garth Road -Scarsdale NY
The Chauteaux Cooperative – Scarsdale NY
© Ruthmarie G. Hicks – http://thewestchesterview.com – All rights reserved.
Real estate in Scarsdale NY has a remarkably sparse number of cooperatives located within the Scarsdale municipality. The famous Garth Road cooperatives – though conveniently located with resepect to Metro-North and village shopping, are not truly in the Village of Scarsdale. If you are looking a cooperative that is located in the Village of Scarsdale with easy access to the train station as well as shops and Scarsdale restaurants, then the Chateaux of Scarsdale is one complex that fits the bill. The location couldn’t be better for the commuter - you can even grab a quick morning drink at Starbucks on your way to the train platform.
The Chauteaux in Scarsdale NY:
The Chauteaux is an elegant pre-war garden complex located just off of East Parkway on Chauteaux Circle. Mature growth gives and the unique garden-style buildings a tremendous amount of grace. The setting is peaceful in spite of being in the middle of the village. And you can’t ask for a better location. You can easily leave the car for day to day errands. Shops are just around the corner, dining out is just steps away.
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When people think of real estate in Scarsdale NY they tend to think of single- family homes and high-end cooperatives with Old-World charm. Scarsdale Manor is one of the larger cooperative complexes on the famous Garth Road. The area reflects the mature elegance of Scarsdale Village and features many pre-war complexes that were converted into cooperatives in the 1980s. It is a mature community with very little space for new development.
Scarsdale Manor Complex:
Scarsdale Manor like many of the buildings surrounding it, is a pre-war complex which is reflected in the grace of the structure and the grace that the units inside convey. A 1 BR unit can range in size from 725 – 950 sf while 2 BR units range from 900-1250 sf. Many of the 1 BR units are sold as Jr.4’s . To me this is a misnomer. The extra room is really dedicated dining area – or dining room – and not truly a dedicated area like a home office as the term implies. Many of these units have been renovated from top to bottom allowing buyers to enjoy the best of the old as well as the new. And speaking of modern amenities, the complex is wired for FIOS, Cablevision and Direct TV.
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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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Scarsdale Cooperatives:
Scarsdale coops are very popular for commuters and long-time residents alike. When people think of coops in Scarsdale, they are often thinking of the famous Garth Road. Unfortunately, there are no longer any dog-friendly cooperative complexes on Garth. However, nearby on Central Ave, there is such a complex.
Scarsdale Country Estates:
Scarsdale Country Estates is located on Campus Place and Sentry Pl. off of Central Ave. Although they have a Scarsdale, P.O. address, it is important to clarify that they are actually located in the town of Greenburgh in the famous Edgemont school district. These are lovely old world garden style units with fine moldings, hard wood floors and fireplaces.
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The river towns comprise the towns/villages in Westchester that are located along the Hudson River. This blog covers the lower Westchester region primarily in the town of Greenburgh. Sleepy Hollow is included since it shares a school district with Tarrytown. Initially I ran these statistics on Tarrytown and Sleepy Hollow, but the sales volume was too low to create reliable statistics.
In general, prices in the river towns such as Tarrytown NY showed some signs of stabilization in the river towns. Certainly the area has been badly beaten up over the past few years, so it was good to see a slowdown in declining prices.
Cooperatives:
The pricing for cooperatives was dicey because during the 4th quarter there were practically no 2BR sales. This skewed the price point dramatically downwards. Although the number indicates a decline of over 34% from the previous year, this market is nowhere near that unstable. Because of the unusual sales pattern decent sales figures were almost impossible to come by. However the increase in sales volume of 120% indicates a recovering market. The 6 month inventory reflects a slowly declining market. So the numbers indicate a level or slightly declining market creating some good news for buyers and sellers a like.
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Another Larchmont restaurant that is a real hot spot among the locals is the famous Larchmont Tavern. The LT dates back to the Great Depression. It opened in 1933 – at the height of the depression. Today it is open 7 days a week for lunch and dinner. Located at 104 Chatsworth Ave., its central location makes it a draw for families and commuters a like. It is practically across the street from Metro-North making it a convenient destination for commuters looking to grab a bite or a drink after work. The place is always packed and the reason for that is obvious. The food is basic family fare – but done well and with excellent service. Personally, I love their salads particularly the Spicy Southwestern. No need to order extras – the salads are huge and there is always plenty for a second meal the next day.
For more information as well as a menu go to http://larchmonttavern.com/
© 2010 Ruthmarie G. Hicks – http://thewestchesterview.com. All rights reseverd.
Larchmont restaurants are very popular places for the locals to gather. Larchmont is very much a bedroom community – and after a long day in the city, many of the residents like to eat out. One of my favorite places to eat in Larchmont is the famous Chat 19. Chat 19 is one of a cohort of Westchester restaurants by Mario Fava – who saught to bring New York City to Westchester. This is one of the most popular places to dine in Larchmont. The place is generally packed and in the summer, the crowd spills over to the sidewalk for outdoor dining. I particularly like eating outdoors. Larchmont is charming and its a wonderful experience to watch the crowds on the street on a warm summer night. Chat 19 is popular for a good reason: the food is wonderful. The cusine is American Grill. The decor could best be described as So-Ho style.
The food is excellent as is the service. I particularly enjoy the spaghetti squash where squash is shaved into “angel hair spaghetti” with diced vegitables, pine nuts and nice tomato sauce. It may sound a bit strange but it is a wonderful meatless meal. I’ve also enjoyed the Jambalaya which is nicely spicy without going over the top.
For more information and a menu go to www.chat19.net.
© 2010 Ruthmarie G. Hicks. http://thewestchesterview.com. All rights reserved.
Zachys Wine & Liquor is a famous Scarsdale Landmark:
Located on 16 E. Parkway in the heart of Scarsdale Village Zachys Wine & Liquor is a landmark unto itself. They are in their 65th year and anyone who knows anything about wine, knows Zachys. Wine affectionados come from all over to shop there. They host exclusive and wine tastings. For example, the most recent was on Saturday with a big Italian wine tasting.
In truth, I was more than a little intimidated. I was certain that someone who knows something (but not a lot) about wine would be in well over their head walking into such such a famous place. Not so at all. They were actually very patient and helpful. As I was wondering through the maze of bottles I had started to feel a bit lost and a staff member rescued me and helped to find exactly what I was looking for. They weren’t the least taken aback that as a hard-working real estate professional – I wasn’t in the market for a $200 bottle of wine. In the end, they found a nice Zinfandel that suited my taste and my budget.
If you want to explore further, the best option is to take the time to go there. They also have an excellent web site which I found informative and fun – http://www.zachys.com/
© 2010 Ruthmarie G. Hicks, http://thewestchesterview.com. All rights reserved.
