Larchmont seemed to be impervious to market forces. Prices on single family homes kept climbing, national housing crisis notwithstanding. But nothing can go up forever and the stock market crash has impacted the housing market.
Scarsdale VillageThe housing market in Scarsdale is all over the place. Single family homes took a very heavy hit last year. Since they took their hit early, they now appear to be in recovery mode. The same can not be said for neighboring Edgemont which is now taking a drubbing and the cooperative market has also seen some difficulties.
Manor Woods - Hartsdale NYThe Hartsdale housing market is in buyer's market territory at this time. Like White Plains, the area resisted the housing correction particularly in the condo and coop markets until the stock market crashed in late 2008.
Buyer interest started to increase at the beginning of the 2nd quarter as lower prices and the stimulus package pulled buyers off the fence. Towards the end of the quarter there were many more contracts and pendings.
New Rochelle is now where White Plains was about 10 years ago. Geographically, it has many things going for it. It has the Long Island Sound along its eastern border which gives it a distinct aesthetic edge over the land-locked White Plains. It has a train station complete with a new parking facility and boasts a 30 minute commute to Grand Central Station.
Tarrytown and Sleepy Hollow housing stats are giving us many mixed signals. Pricing appears to have stabilized, but inventories remain high given the low rate of sales - which will continue to put pricing under pressure.