Market Update Q3 2016
HOM
10/31/2016

BRONXVILLE VILLAGE

YTD 9/30/2016 Bronxville Village single family sales (not including townhouses) totaled 38 closed transactions.  This level of activity would seem to indicate that we are on track to reach the 2015 total of 45 homes sold.  A closer look indicates that that will not happen since there are only 4 homes in contract as of mid-October which would point to a total of 42 transactions for the year, the lowest level of activity since 2011.

There is also a notable slowdown in showing activity of village homes since September 1st.  In some less expensive markets that slowdown in activity is due to a lack of inventory.  That is not the case in the Village where there are 26 homes available as of October 28th.  This is a trend that is being seen in many upscale communities.  Bronxville’s median price for the 38 transactions that have closed year to date is just over $2,500,000 which is slightly higher than the median price in 2015.  At this point we are not seeing any price depreciation.  

 

 

BRONXVILLE PO (homes in Yonkers that are within the Bronxville postal district)

YTD 9/30/2016 Bronxville PO single family sales totaled 47 closed transactions with another 8 homes in contract for a total of 55 sales for the year.  This level indicates a slight dip in activity from last year (58 sales) but is more or less in line with the prior 3 years with an average of 58.  Year to date median price of $807,500 is right in line with the prior two years. 

The strongest part of the market in this PO is for homes under $1,000,000.  There is strong demand for these properties as their days on market are lowest.

 

TUCKAHOE SCHOOL DISTRICT

YTD 9/30/2016 Tuckahoe School District single family sales totaled 35 closed transactions with 7 in contract.  That will put volume for the year at a number that is equal to 2015.  Interestingly, the median price year to date is up 6% over the 2015 median price.

 

EASTCHESTER SCHOOL DISTRICT

YTD 9/30/2016 Eastchester School District single family sales totaled 88 homes with 14 more in contract.  Obviously, activity has been very strong in this market.  Sales activity for the year will be very close to the 2015 volume.  The median price in Eastchester has been steadily improving over the past 4 years and the year to date median price is up 4% over last year.

 

 

CRESTWOOD – Tuckahoe PO – Yonkers

YTD 9/30/2016 Crestwood single family sales totaled 20 homes with only 2 more in contract.  Activity is down this year over the prior four years.  The lack of inventory in this market has been a constant throughout 2016.  In fact, at the end of September, there were only 6 homes on the market.  A side effect of the price point in Crestwood, has shown an increase in sales in the surrounding areas.