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:
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.
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.
Cooperative sales prices remained flat in 2010 when compared with Q2 2009. This reflects the very soft market for Westchester coops seen throughout the county. Indeed, the Scarsdale market – including Garth Rd in the Scarsdale P.O. has done far better than similar areas with an easy commute such as White Plains and Larchmont. Median Sales price was $210,000. The price range was wide from $95,000 for a small studio to $690,000 for a 3 BR coop in the village of Scarsdale steps from the train.
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.
© Ruthmarie G. Hicks – https://thewestchesterview.com – All rights reserved.
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