Larchmont Property underwent a downturn over the past year. Traditionally, this market had been quite resistant to recession forces however, the crash of 2008 brought prices down. But while it brought prices down those lower prices brought out buyers - particularly in the single family home market.
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.
Over the past few quarters, Larchmont had been seemingly impervious to the market gyrations that were impacting the rest of Westchester County with varying impact. Like White Plains, it took the Wall Street crisis and the temporary freezing of the credit markets to shake things up.