Bronxville PO/Yonkers Market Analysis on Single Family Homes

Here is my summary and analysis of the real estate market for Single Family homes in the Bronxville PO/Yonkers market and my thoughts for 2020.

As you review this ‘Snapshot’ of the Bronxville PO market over the past 10 years, note the number of transactions each year as well as the median price. It also shows what segments of the market were strong and which were weak.

Here are some interesting bullet points:

the median price in the PO has dropped 15% from 2017 to 2019
throughout the post-recession years 2012-18, the volume of transactions in the PO averaged 58 homes per year; in 2019, the volume dropped to 42
14 homes were ‘in contract’ at year end representing 33% of the sales volume for the year
of the 14 homes ‘in contract’ at year end, 6 of them had asking prices above $750,000 and 2 had asking prices over $1 million, which had been a weak segment of the market over the past two years. In fact, only 7 homes sold in 2019 for more than $1 million

A significant data point is the drop in sales volume in 2019 as it represents seller resistance to the reality that market values have dropped. However, the number of homes ‘in contract’ at year end indicates a significant increase in market activity. In fact, 4 additional homes have gone to contract since the first of the year.

It is clear to me that the market in the Bronxville PO has turned a corner–sellers have adjusted to the new market and buyers are back. They want an easy commute to NYC and a great quality of life, which the PO offers being right near all that Bronxville Village has to offer.

I predict a surge in sales volume for 2020 which will bring us back to a more normal volume of over 50 sales, prices will level off and the median will be similar to the past year. This year should be a good year for the PO as it seems to have started out on a positive note.

Joe Houlihan
Broker/Owner
Houlihan & O’Malley real Estate Services

*Market information is from the Hudson Gateway Association of Realtors

January 17, 2020January 27, 2020

MONTHLY ACTIVITY FROM HOULIHAN & O’MALLEY–DECEMBER 2019

Houlihan & O’Malley ended 2019 on a high note! Our agents helped several clients with selling their home, buying a home and listing their home. If you are thinking of buying in the Bronxville/Westchester real estate market, our team has the expertise, knowledge and customer service you are looking for! Come by and see us .

SOLD:

50 Highland Circle, Bronxville PO/Yonkers (4 Bed/3Bath/1 Half Bath)
Sold for: $1,303,000

This often admired Bronxville PO treasure was recently featured in a NYT article about the benefits of living in Lawrence Park West. First time on the market in 28 years, the home was designed by noted architect Lorillard Wise with a classic stone and cedar shake exterior, slate roof and arched dormer windows. This gracious home has been meticulously restored and maintained.

101 Hickory Grove Drive West, Larchmont (3 Bed/2 Bath/1 Half Bath)
Sold for: $ 1,075,000

A classically stylish, mint condition Tudor style home captures top-quality custom details with a distinctly contemporary spirit. This location in Larchmont Gardens near the Brook has it all -walk to train, village and schools!

1361 California Road, Eastchester (3 Bed/2 Bath/1Half Bath)
Sold for: $687,000

This lovely split-level home is move-in ready on .17 acre! Everything is new! Floor Plan features a spacious foyer that leads to bright family room. Hardwood floors throughout and central A/C. Eastchester Schools. Close to many shops and restaurants. Eligible for Lake Isle Country Club Membership.

31 Pondfield Road West #54, Bronxville PO/Yonkers (2 Bed/1 Bath)
Sold for: $290,000

Wonderful apartment in the sought-after Tudor Arms. The unit is located on the 5th floor of this classic Pre-War elevator building. The apartment has 9-foot ceilings, picture moldings, cedar lined closets, and oak hardwood floors with mahogany trim. Just a five-minute walk to the shops and restaurants in Bronxville Village as well as the Bronxville Metro North station.

280 Bronxville Road #3B, Bronxville PO/Yonkers (1 Bed/1 Bath)
Sold for: $245,000

A COMMUTER’S DREAM! Blocks to Bronxville Metro North train station with service to Grand Central Station in 30 minutes. Close to Bronxville Village, Starbucks, Soul Cycle, Pure Barre, seasonal Farmer’s Market, movie theater, library, shops and restaurants!! Enjoy Bicycle Sunday on the Bronx River Parkway and enjoy biking, walking, nature study and jogging on the Bronx River Parkway Reservation all year long!

90 Oregon Avenue Unit B, Bronxville PO/Eastchester (1Bed/1 Bath)
Sold for: 220,000

Welcome to Chester Heights Garden II. This is a lovely top floor, sunlit unit with hardwood floors throughout. Meticulously maintained grounds and mature landscaping. Steps to many shops, restaurants and so much more! Just minutes from Village of Bronxville and the Bronxville Metro North Train Station with 30 minutes service to Grand Central Station! A hidden gem!

IN CONTRACT:

8 Rhynas Drive, Mt. Vernon (4 Bed/3 Bath)
Listed at $879,000

Beautiful Rhynas Drive. Named for the famed architect/builder who built each distinguished home on this delightful block. #8 is his only stone front home in this remarkable collection. With its original slate roof, this home sits prominently on the bend in the road. The quality of this home is evident everywhere!

682 Tuckahoe Road #6F, Yonkers (1 Bed/1Bath)
Listed at: $110,000

Penthouse living. You’ll enjoy this quiet and peaceful unit located on the top floor. Low monthly maintenance. The building also has assigned basement storage, common laundry, a community room and on-site super. A must see unit!!!

NEW LISTINGS:

11 McArthur Avenue, Tuckahoe PO/Yonkers (4 Bed/3 Bath)
Listed at $650,000

Built in 1962 by a builder for his family, the house has been occupied by the family for all these years. The house has an over-sized living room /dining room with a fireplace, an eat in kitchen, a Master bedroom with an en-suite bath, three additional bedrooms and a hall bath. The inside has been freshly painted, the wood floors have just been refinished and the bonus space has new flooring. Don’t miss this opportunity to call Crestwood home.

Let us, the real estate experts, help you with all your real estate needs.

December 17, 2019December 17, 2019

THANKSGIVING IS OVER ☹—CAN CHRISTMAS BE FAR BEHIND😊?
MONTHLY ACTIVITY FROM HOULIHAN & O’MALLEY–NOVEMBER 2019

Houlihan & O’Malley had an active November especially with Real Estate Contracts and New Listings! Our experienced and talented agents are here for you when you are ready to buy or sell your home. We have several years of knowledge in the Westchester County Real Estate market. When you hire us for your real estate needs, you become a part of the family!