Archive for Market Conditions

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Westchester’s Top 5 Markets: Highest Increase of Single Family Homes Sold

0 Comments By Gay Prizio on January 25th, 2011
Tags: , , , , , ,      Categories: Buying, Market Area, Market Conditions, Selling, Westchester

Many markets slowly recovered in 2010.  The following 5 markets saw the highest increase in single family homes sold when compared to the number of homes sold in 2009:

School District SFH Sold 2010 SFH  Sold 2009 Unit Increase
Mamaroneck 236 160 76
New Rochelle 248 196 52
Bronxville 75 28 47
Rye City 151 106 45
Scarsdale 202 160 42
Source: EAMLS, Single Family Homes Sold 1/1/2009-12/31/2009 and  1/1/2010-12/31/2010

For more information and data on these towns, go to www.houlihanlawrence.com for Market Reports.

Our video channel provides a slice of life in these communities, watch them on HLtv.

Westchester’s Top 5 Markets: Most Homes Sold in 2010

0 Comments By Gay Prizio on January 18th, 2011
Tags: , , , , , ,      Categories: Buying, Market Area, Market Conditions, Selling, Westchester

Over the next few weeks, we will take a look at year-end home sales data ranked by the Top 5 in our market.

Our first Top 5 is Westchester County school districts with the highest number of homes sold in 2010.

It is not surprising that these school districts are among the largest in Westchester County.

School District Total Homes Sold
Yonkers 320
New Rochelle 248
Mamaroneck 236
Scarsdale 202
White Plains 192

Source: EAMLS, Single Family Homes Sold 1/1/2010-12/31/2010

For more information and data on these towns, go to www.houlihanlawrence.com for Market Reports.

Our video channel provides a slice of life in these communities, watch them on HLtv.

Houlihan Lawrence: London Report

0 Comments By Anthony Cutugno on December 15th, 2010
Tags: , ,      Categories: Dutchess, Luxury Country Properties, Luxury market, Market Conditions, Putnam, Uncategorized, Westchester

London: A Destination for Luxury Buyers

Tony at Mayfair 150x150 Houlihan Lawrence: London Report

Mayfair's Nick Churton and Anthony Cutugno

A global hub for luxury real estate, London is home to one of our premier European affiliates, Mayfair International Realty. Recently I was pleased to attend Mayfair’s annual conference, held at the Royal Air Force Club in fashionable Piccadilly, where over 350 luxury brokers, representing some of the highest priced properties in the UK and Europe, got together to discuss the state of the business in their respective markets.

Outlook 2011: A Stabilized Luxury Market in the UK and Europe

Spurred by reports of several high-end sales in London and Europe,  Nick Churton, Managing Director of Mayfair International Realty, reported on the improved outlook for next year especially for properties that are properly priced. Similar to the market conditions we see here in the New York area, European luxury properties priced for today’s marketplace are seeing activity while overpriced properties continue to languish. Whether you are in London or Paris or Bedford or Rye, homebuyers in every price range want a “deal” and pricing  will continue to be the driving force in today’s marketplace.

Marketing in the International Domain

It was a valuable experience to hear from these leading international brokers first-hand and a great chance to introduce our important estate properties to this esteemed group. Members particularly enjoyed hearing about Devonshire in Bedford Corners , named for the famed aristocratic clan, the dukes of Devonshire and their  ancestral seat, Chatsworth House in Britain. More and more , our international outreach and affiliation with the world’s leading experts in real estate  is critical to our success in the marketing of  our local estate properties,  where buyers can come from anywhere in the world.

Westchester Real Estate Market Recap for October

0 Comments By Gay Prizio on November 11th, 2010
Tags: , , ,      Categories: Market Area, Market Conditions, Westchester

Houlihan Lawrence’s  Westchester County Market Report for October has just been released. It indicates the Median Sale Price for Single Family Homes is up by 12.6% when compared to October, 2009.  The Ten Year Market History chart illustrates that the current median sale price of $640,000 is about level with 2008 pricing and within 7% of the 2007 peak median sold price.

The number of units sold has made a stunning comeback, increasing by 33% from the same period last year. However, near-term statistics show that volume is down almost 18% and Months Supply of Inventory has increased from September, indicating less sales (demand) with a higher number of homes for sale (supply).

5 Most Common Questions Asked by Sellers

0 Comments By Gay Prizio on November 9th, 2010
Tags: , ,      Categories: Market Conditions, Selling
  1. How’s the market doing?
  2. Is now a good time to sell?
  3. What is my house worth?
  4. If I make improvements to my house, will I get a good return on my investment?
  5. What are the most desirable features in a home and community that today’s buyers are looking for?

5 Most Common Questions Asked by Buyers

0 Comments By Gay Prizio on October 26th, 2010
Tags: , , , , ,      Categories: Buying, Dutchess, Market Area, Market Conditions, Putnam, Westchester
  1. Where can I find information about the school district?
  2. Is now a good time to buy?
  3. Does this town offer recreation, entertainment, cultural activities, senior programs?
  4. What are some other comparable sales in the neighborhood
  5. How long will it take to me to get to Grand Central? 

From WSJ.com: Home Deals in Suburbs Start to Dry Up

0 Comments By Frederick Romley on October 13th, 2010
Tags: , , ,      Categories: Buying, Market Area, Market Conditions, Westchester

In today’s Wall Street Journal  is an article on how Manhattan’s bedroom communities have undergone a boomlet in sales and rising prices as city dwellers have been looking for housing bargains in nearby suburbs that were hard hit during the downturn.

Houlihan Lawrence’s Chris Meyers describes in the article how this trend has affected Westchester County. Read the entire article at wsj.com.

Houlihan Lawrence provides Monthly Market Reports at HoulihanLawrence.com. The Westchester County Market Report for September can be found here.

Report from the UK

0 Comments By Anthony Cutugno on October 8th, 2010
Categories: Buying, Luxury Country Properties, Luxury market, Market Conditions

Recently we heard from our British connection,  Mayfair International Realty in London, who serves as our marketing partner throughout the UK and Europe. Mirroring the sluggishness we are experiencing in many of our local markets,  the international real estate market is facing some challenges as well.

Here’s the inside story on the state of the UK real estate market from Nick Churton, President of Mayfair International.

On Ice

  champagne 150x150 Report from the UKIn real estate it is both nicer and easier to give and receive messages of optimism and assurance. No one ever wants to hear from a pessimistic broker or agent. But then no one wants to hear from a stupid one either.  Pessimism should never be confused with pragmatism or objectivity.  It would be wrong not to prepare sellers and ensure that they are in the best possible position to make the very most of the market we are in.  Property is sold by people with their feet on the ground, not by those with their heads in the clouds – or worse!

So realistic brokers and agents are putting the Champagne back on ice for little longer in the UK.  For a while many people thought that a buoyant property market had returned.  In many places prices had regained their pre-2007 levels and there was strong demand.

 But it would be foolish to ignore the many signals we have.  In the market, all is not quite so rosy as it was.  Demand has slackened off; mortgage lending is at a six month low; harsh economic measures are ahead and, despite low interest rates and helpful noises from the IMF that the British economy is looking better, few are deceived into thinking that the next twelve months or so won’t be a challenge.  Read More……

Living in Scarsdale, NY

0 Comments By Gay Prizio on August 19th, 2010
Tags: , , ,      Categories: Buying, Market Area, Market Conditions, Westchester

The Wall Street Journal recently featured an overview of the Village of Scarsdale.

If you’d like more information on Scarsdale, you can take advantage of the multiple resources we have available.

You can visit one of our market experts in our Scarsdale Brokerage.

Visit our website and read hard facts about Scarsdale Real Estate in our Scarsdale Market Report.

3026440 1 150x150 Living in Scarsdale, NYAnd best of all, to experience Scarsdale “in real life” you can visit this Open House on Sunday 8/22 from 1pm to 3pm.

Lovely four bedroom Cape offering charm, space and style. Highlights include an entertainment sized deck, sparkling hardwood floors and central air. Living room with fireplace and high ceilings, large bright kitchen with breakfast area opening to deck and yard plus dining room. Inviting lower level family room, laundry and gym. [More..]

Westchester Market Indicators for July 2010

0 Comments By Gay Prizio on August 13th, 2010
Tags:      Categories: Buying, Market Area, Market Conditions, Selling, Westchester

The health of the real estate market continues to be a hotly debated subject. Quantitative data, such as months of inventory, is a useful metric to determine supply and demand.

Conventional real estate wisdom equates the following with months of inventory:

  • 1-4 months inventory means there are more buyers then sellers. 
  • 5-6 months inventory means the market is balanced with a healthy number of buyers and seller
  • 7+ months inventory means there is an oversupply of product, with more sellers than buyers.

 The following chart lists the schools districts in Westchester County that showed the greatest decrease in months of inventory from July 2009 – this is a positive indicator and a sign of a more robust market when compared to the same period last year.

  Westchester County School Districts
  School District  Months of Inventory Change from
  July, 2010 July, 2009
  Ardsley 11.1 -55.9
  Dobbs Ferry 10.4 -29.6
  Edgemont 6.6 -25.9
  Bronxville 5.8 -22.2
  Irvington 11.8 -22.2
 Source: WPMLS; Single Family Homes      

What a difference a year makes.  At this time last year, Ardsley had 67 months – or 5 ½ years worth of inventory.
Our Market Report for Westchester County single-family homes is now available with July 2010 sales figures. To see the market activity for other school districts in Westchester County, visit HoulihanLawrence.com and go to the Local Market Reports at the bottom of the page.

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