Homes in the village of Larchmont feature tree-lined streets and pre-war homes packed with Old-World charm and character. In 2009 that number abruptly “corrected” to $907k and rose to $1.243 million in 2010 and now rests at $1,053,000 for 2011.
The big bad bear market has actually been very kind to Larchmont Village and the Larchmont PO. While other areas of Westcehster NY are still in the doldrums, Larchmont homes have been selling at a fairly brisk pace and prices have increased.
Up to the end of 2010 there were some very sturdy markets that appeared to be immune to the gyrations of the housing recession. The Scarsdale Coop market was among them. But in 2011 this market, that had resisted a major correction, finally corrected
Prices for 1 BR units are down about 18% from the peak while 2 BR units are down about 16% from the peak prices As of the end of 2011, the median price for a 1 BR unit in Scarsdale Manor is about $180,000 while the median price for a 2BR unit was $270,000.
The Broadlawn has held up very well in spite of downward pressure on the coop market. Median sales prices are down 17% from their highs in 2006 of $348,000 for a 2 BR unit to a median price of $290,000 in 2011.