The Spring Market is Here

Welcome to the First Quarter 2015 edition of my Bronxville Market Report.  I’d like to share with you the current trends in Bronxville Real Estate as well as highlight some of my recent sales and exclusively listed properties. You can click on the digital report above for all the detiails.

I am pleased to announce that I successfully represented the seller for the highest priced single family home to go into contract (21 Ridge Road, listed at $8.9m); the highest priced condo to go into contract (18 Gramatan Court, listed at $1.395m); the highest priced co-op sale (1 Northgate, 6A at $1.1m); and the highest priced condo sale (64 Sagamore, 1L at $325k).

The sale of 21 Ridge Road closed the first week of April at the second highest sale price ever for a house in Bronxville ($8.5m).  I now have the distinct honor of having represented the sellers for the two largest transactions in the history of Bronxville (the prior transaction was in 2007 at $10.5m).

 Bronxville Market The Bronxville Real Estate Market has been very busy with increased activity as we leave the cold winter behind us and move into spring.  With record low inventory levels in Manhattan as well as the average  price for a Condominium reaching over $1,500 per square foot, more and more people are looking to Westchester as an alternative as New York City prices increase.

Single Family Homes The first quarter of the year saw five single family sales, despite it typically being the slowest quarter. The average price for a single family home has remained strong, with an average sales price of $2,401,000.  This represents a 13% increase from the previous quarter.  

Townhouses There were six Bronxville townhouse sales during first quarter 2015, which is double the number of sales versus the same period a year ago. The average sales price was $1,052,417.  

Cooperatives Bronxville Cooperative apartments experienced the largest increase from the previous quarter with the average sales price reaching $606,214.  This is a 34% increase from the fourth quarter of 2014.