Archive for the 'Scarsdale' Category
Real estate in Scarsdale NY has a remarkably sparse number of cooperatives located within theScarsdale 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 Chateaux in Scarsdale NY:
The Chateaux 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.
The area couldn’t be more convenient. It is highly walkable, you can leave the car behind for most of your day-to-day errands. A 10 minute stroll puts you on a Metro-North Train to NYC. The trip to Grand Central station in midtown is a mere 29 minutes by express.
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The cooperatives on Garth Road in the Scarsdale PO are a very popular destination for first time home buyers and those who are scaling back from a home. Among Westchester coops, the Garth Road location is one of the best known and most sought after. This is not without good reason. The location is fairly close to perfect for commuters and those who prefer to leave the car behind and walk to town.
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Ok – So I admit it, I have been so busy revamping parts of my website and redoing my database that I am shockingly late on market reports for the area for Q2. Being true to my pathetically geeky self - I don’t just pull the stats from the MLS because I feel that local differences are very important in this market – so all the data is actually culled by me personally…Think of it as knitting your own sweater by hand vs. buying it off the rack and hopefully you will consider the numbers worth the wait.
First up are Scarsdale houses. In general, Scarsdale real estate is very resilient. The Scarsdale single-family home market is no exception. When I refer to Scarsdale in the SF home market, I am directly referring to the town (municipality) of Scarsdale which includes homes only within the Scarsdale schools. The Scarsdale PO which includes areas such as Edgemont, and parts of Yonkers and Eastchester are a market unto themselves.
A Scarsdale house has done very well over the past 2 years. Median price was $1,113,000 in Q2 of 2009 at the height of the bear market and has risen steadily through 2010 and 2011 to $1,295,000 and $1, 468,000 respectively. That’s a nice 13% increase over Q2 2010 – not bad for a big bad bear market!
Sales volume has taken a similar path with volume rising steadily – totally shaking off the ending of the tax credit. going from 36 total sales in Q2 2009, to 44 sales in 2010 and 61 sales in 2011. Once again – not bad for a bear market. Scarsdale houses have pretty much shrugged off the bear.
If you look at inventory the market indicates about a six month inventory which is neither bull nor bear. Nevertheless all other indicators are actually up – not down or flat.
With almost all sings bullish – this is a strong market and buyers have to be realistic if they want to buy into this market.
©2011 – Ruthmarie G. Hicks – http://thewestchesterview.com – All rights reserved.
Scarsdale NY is a township that is sandwiched in the middle of the county. The central location means that it is indeed landlocked. But it also offers easy access to all points of the county and NYC.
Though primarily known for its famous residential areas such as Green Acres, Fox Meadow, Edgewood, Quaker Ridge and Heathcoate, the village itself is charming, sporting such high end retail as the famous Zachys for wine and liquor and restaurants such as Muscato and Chat Scarsdale - make the village active and alive with activity. Known for its large lots, rolling lawns and magnificent homes and estates – Scarsdale is thought of as a destination unto itself. More modest homes also dot the landscape and it is a popular destination for homebuyers.
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My recent web page about the Metro-North commute to lower Westchester. created a good deal of interest. Another post about the New Haven Line and the Hudson Line were also well -received. So now I am adding the Harlem Line to this collection of posts. For those interested in commuting by car might also like to check out my web page about commuting by car in lower Westchester.
The Harlem Line:
The Harlem Line – depicted in the map on the right, passes through the central towns and cities of Westchester County. During off-peak hours there are three trains northbound to Westchester and three trains southbound to Grand Central Station. The major express stop is White Plains which – with very few exceptions enjoys the distinction of being a stop for virtually every train on the line. Apart from the White Plains express stop, there are peak hour express trains from Crestwood, Scarsdale, and Chappaqua.
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The Scarsdale NY housing market is always set somewhat apart from the body of Westchester NY. A market unto itself – it sets the trends for the rest. How homes for sale Scarsdale NY fair is often the bellwether for the rest of the market down the road. So, I was pleased to see that the real estate market of Scarsdale did very well in Q3 2010 – at least with respect to single family homes. The condo market, that I am including for the first time due to the sales at Christie Place – is too small to draw any major conclusions from – particularly since Christie Place represents a new price point for the area. But the coop market was mixed when compared to the previous year. Even the most desirable Garth Road has significant inventory. The divergence of these two markets is something that is being seen across the board and is not unique to Scarsdale.
Scarsdale NY Single Family Homes:
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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.
Update on Scarsdale Manor Sales Prices & Sales Volume – September 2010:
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The Scarsdale housing market is mirroring other markets with lower Westchester NY. Real Estate Scarsdale NY represents two separate markets. One that is improving and the other that is either declining or hold steady:
A Tale of Two Markets
Single family Homes for sale Scarsdale NY – are doing well. Volume is up, inventory is down and prices are higher over Q2 2009. Edgemont (which is part of the town of Greenburgh with a Scarsdale P.O. – confirms that pattern. Cooperatives reflect another market altogether. Although sales volume is up – prices are flat. Even units on the famous Garth Road are not moving rapidly.
Single Family Homes – Scarsdale NY & Edgemont NY
Prices of Scarsdale Homes for sale were up 16% from Q2 of the previous year. The median sales price was $1,295,000 with a range between $540,000 and $3,975,000. Sales volume was up 22% over the previous year with 44 homes sold in Q2. These numbers encompass all of the elementary school zones including Edgewood Scarsdale, Fox MeadowScarsdale, Quaker Ridge Scarsdale Heathcoate Scarsdale and Greenacres Scarsdale. Inventories are low with about 4.5 months of inventory on the market when you look at current contracts and pendings.
The Homes in Edgemont showed dramatic improvement in both pricing and sales volume. Sales prices are up 57% to $1,120,000. Sales volume is up over 300% with 19 homes sold in Q2 2010. Inventories are still on the high sit with about 7.5 months of overhang on the market.
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The weekend is rolling around again and it is time for me to put up another Westchester events calendar. Here are some nice events for a sultry summer weekend! The number and variety of Westchester County events always ensures that residents will never be bored.
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
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