Make this your home page

Letters to the Editor

Email:
Subject:
Message:
Please type the number 5 below to submit

Sponsored Links

Bronxville Weather

°F | °C
invalid location provided
Real Estate in Bronxville: A Great Time to Trade Up PDF Print Email

alt

By Cindy G. Landis, Brokerage Manager, Bronxville Office of Houlihan Lawrence

Jul. 10, 2019:  The first half of 2019 has proven that there is buyer demand for well-priced homes in Bronxville, but the activity has shifted toward lower price points.

After ending 2018 with a scant 39 single-family home sales, tying 2011 for lowest number of sold homes since the financial crisis, 2019 is seeing a rebound from those numbers. At the mid-year point, 15 homes are in contract and 27 have closed, so 2019 will surpass 2018’s disappointing record. Currently, Bronxville is 42% ahead of the number of closed single-family homes versus 2018’s mid-year point.

Where are the numbers shaking out? In the past, the traditional “sweet spot” in the village has been the $2 to $3 million range, but this year, 48% of closed deals are below $2,000,000. Forty-one percent are in the $2,000,000-$2,999,999 range, and there are three closed deals above $3,000,000 representing 11% of the homes sold. The highest deal to close this year is $4,650,000. From a price-per-square-foot measure, we ended 2018 at $649 psf, down 3% from 2017, and we are now at $586 psf, an additional decline of 9.7% this year. Year over year, the median sale price is 14.9% lower, although on the bright side, the median is $2,150,000, up 2% from the end of last year.

The weak spots both in Bronxville and across other affluent lower Westchester towns are the price ranges above $3,000,000. Although a few sellers have taken listings "off the market for the summer," the market is top-heavy. Eighteen of the 45 active listings, 40%, are priced at or above $3,000,000, and there are 7 homes above $5,000,000. Those 7 homes represent slightly more than 4 years of inventory at the rate of 1.6 sales each year over the past 5-year period. In the luxury markets across Westchester (homes priced above $2,000,000), this is the third consecutive quarter of sales declines. Tax reform has made homeownership more costly. The potential silver lining is that with high demand for lower-priced homes, a long supply of higher-end houses, and historically low mortgage rates, it is a great time to trade up in the village.

The townhouse market, continuing its 2018 strength, has 7 closed deals year-to-date vs. 5 for the same period last year, a 40% increase. There are also 4 deals in contract now, projecting at least 11 closings this year, a number that would exceed all of 2018’s 9 sales. Year over year, the median sale price is down 14.3% but remains high at $1,200,000. At $618 price per square foot, townhouse pricing exceeds that of single-family homes despite dropping 7.4% since the start of this year.

The local co-op market is performing somewhat less vigorously. Inventory levels are similar to last year's, but fewer co-ops have sold this year, 17 versus 22, year to date. There is also slightly more inventory in the over $1,000,000 end of the co-op market.

One of the casualties of having a more robust market in the village (at the lower end) is that the sales in the Bronxville PO/Yonkers market have slowed. Year to date, unit sales are off by 22.7% (17 versus 22), but of greater concern is that pending sales (homes in contract) are off by 50%, potentially anticipating a softening of prices. There are 21 homes for sale above $1,000,000, yet only 2 are in contract. It may be likely that the lower pricing in the village is putting pressure on the PO market.

There is still a substantial amount of the proverbial wood to chop in the village. For sellers who think, "I’d rather wait this out," the relevant question is what will be a catalyst for a return to “pre-tax reform” prices … and when will that occur? The soft NYC market, the large amount of unsold luxury inventory from lower Westchester to Greenwich, demographic imbalances, and the upcoming 2020 election make this a good time to consider one’s future plans and get ahead of the curve.

Pictured:  Cindy G. Landis, brokerage manager, Bronxville office of Houlihan Lawrence.

Photo courtesy Cindy G. Landis

Editor's note: As a public service, MyhometownBronxville publishes articles from local institutions, officeholders, and individuals. MyhometownBronxville does not fact-check statements therein, and any opinions expressed therein do not necessarily reflect the thinking of its staff.

 

Priscilla Toomey on Real Estate: Housing Stability Act of 2019 Includes New Provisions For Renting Single Family Homes

News image

By Priscilla Toomey, Licensed Associate Real Estate Broker, Julia B. Fee/Sotheby's International Realty Sep. 4, 2019:  If their home is on the market but isn’t selling, people often think of renting...

Read more

Real Estate Directory

Bronxville Overview

Bronxville is a quaint village (one square mile) located just 16 miles north of midtown Manhattan (roughly 30 minutes on the train) and has a population of approximately 6,500. It is known as a premier community with an excellent public school (K-12) and easy access to Manhattan. Bronxville offers many amenities including an attractive business district, a 400-bed acute care hospital (New York Presbyterian/Lawrence Hospital), public paddle and tennis courts, fine dining at local restaurants, two private country clubs and a community library.

While the earliest settlers of Bronxville date back to the first half of the 18th century, the history of the modern suburb of Bronxville began in 1890 when William Van Duzer Lawrence purchased a farm and commissioned the architect, William A. Bates, to design a planned community of houses for well-known artists and professionals that became a thriving art colony. This community, now called Lawrence Park, is listed on the National register of Historic Places and many of the homes still have artists’ studios. A neighborhood association within Lawrence Park called “The Hilltop Association” keeps this heritage alive with art shows and other events for neighbors.

Bronxville offers many charming neighborhoods as well as a variety of living options for residents including single family homes, town houses, cooperatives and condominiums. One of the chief benefits of living in “the village” is that your children can attend the Bronxville School.

The Bronxville postal zone (known as “Bronxville PO”) includes the village of Bronxville as well as the Chester Heights section of Eastchester, parts of Tuckahoe and the Lawrence Park West, Cedar Knolls, Armour Villa and Longvale sections of Yonkers. Many of these areas have their own distinct character. For instance, the Armour Villa section has many historic homes and even has its own newsletter called “The Villa Voice” which reports on neighborhood news.

 



Real Estate Companies

Park Sterling Realty
17 1/2 Park Place Bronxville, New York 10708
914-337-1234

https://www.parksterlingrealty.com/


Houlihan Lawrence
4 Valley Road Bronxville, New York 10708
914-337-0400

www.houlihanlawrence.com/offices/Bronxville
www.houlihanlawrence.com


Houlihan & O'Malley
133 Parkway Road Bronxville, New York 10708
914-337-7888

www.houlihanomalley.com


Julia B Fee Sotheby's International Realty
2 Park Place
Bronxville, NY 10708
914-620-8682

website

 



 



 

Real Estate - Attorneys

Bertine, Hufnagel, Headley, Zeltner, Drummond & Dohn LLP

Established in 1929, Bertine, Hufnagel is "a general practice law firm, offering clients expertise in both individual and commercial matters." Their broad range of services include the following: Wills, Estate
Planning and Taxation, Probate and Estate Administration, Elder Law, Real Estate (commercial, residential, condominiums and cooperatives), Commercial Law and Transactions, Litigation and Banking Law.

700 White Plains Road
Suite 237
Scarsdale, New York 10583
(914) 472 7700
(914) 472 1946 (fax)
www.bertinehufnagel.com


Suzanne M. Bloomer
Wills, Trusts, Estates and Real Estate

85 Pondfield Road
Bronxville, New York 10708
914-337-0142
smbloomerattorney@msn.com


George R. Mayer, Esq.
65 Pondfield Road #6 Bronxville, New York 10708
914-337-3033 (tel)
914-337-1038 (fax)
www.bronxvillelaw.com
grmayer38@aol.com


alt

Griffin, Coogan, Sulzer & Horgan, P.C.

Attorneys and Counselors at Law

Located in Bronxville, New York, Griffin, Coogan, Sulzer & Horgan, P.C. takes great pride in providing our clients with comprehensive, high quality legal services in a responsive manner. The firm concentrates its practice in real estate law with a primary focus on issues relating to real estate tax litigation (also known as tax certiorari), real estate transactions, valuation law, real property taxation and tax planning and real property tax exemption matters throughout New York State.

The firm serves as general counsel for several local cooperatives and represents clients in various issues relating to wills, trusts and estate planning.

51 Pondfield Road
Bronxville, NY 10708
(914) 961-1300
info@gcshlaw.com

www.gcshlaw.com


Kim O'Toole, Esq.
80 Sagamore Road
914-961-6175 (tel)
914-337-3292 (fax)
kotlaw@verizon.net


Mary Anne O'Callahan, Esq.
32 Gramatan Court Bronxville, New York 10708
914-779-3558 (tel)
914-779-5182 (fax)
maocallahan@verizon.net


Nobile, Magarian & DiSalvo

We are hardworking and dedicated attorneys who, combined, have more than 150 years of experience delivering quality legal advice. Our cutting edge is our ability to enter both the conference room and the courtroom with strength. Our law firm provides legal representation and counsel for both individual and business clients on issues related to estate planning and administration, real estate law, litigation, and business law.  Our practice areas include: Commercial Litigation, Business Law, Real Estate, Wills, Estate Planning, Trusts, Estate Administration, Living Wills, Health Care Proxies, Powers of Attorney, Not For Profits, and Employment Law.

111 Kraft Avenue

Bronxville, NY 10708

914-337-6300

http://www.nmdlaw.com/


alt

Veneruso, Curto, Schwartz & Curto, LLP

Veneruso, Curto, Schwartz & Curto is dedicated to providing businesses and individuals with exceptional legal services customized to each client's needs and objectives.  Practice areas include litigation, real estate, not for profit, wills and estate planning, land use and zoning, business and corporate, cooperative and condominium and real estate tax assessment litigation.

The Hudson Valley Bank Building

35 East Grassy Sprain Road, Suite 400

Yonkers, New York 10710

914-779-1100

http://www.vcsclaw.com/


 

Peter W. Williamson, Esq.
141 Parkway Road
914-337-3434 (tel)
914-337-3392 (fax)
pwwilliamson@verizon.net






Real Estate - Insurance Agents

Leslie Homer
71 North Avenue New Rochelle, New York 10801
914-632-8989
www.homerinsurance.com
lhomer@homerinsurance.com


John L. Vorbach Company, Inc. Insurance Brokers
Manhattan Media & Technology Center
65 Broadway, 9th Floor
New York, New York 10006
212-294-4900 x 112
cvorbach@vorbach.com
www.vorbach.com


Linda Graef Jones, Private Client Sales Executive
Personal Risk Management Solutions
Focuses solely on personal insurance and
provides unique, customized solutions that save
money and time and create peace of mind.

6 East 43rd Street
New York, New York 10017
914-645-3951
JonesL@thePRMSpromise.com

www.theprmspromise.com


Palmer-Tanno Agency, Inc.
Independent Insurance Agents since 1948

Greg Tanno
141 Parkway Road, Suite #11
Bronxville, New York 10708
914-793-6603
palmertanno@aol.com


Ranieri Insurance Agency
Auto, Home, Business & Life
Over 50 Years' Experience

Paul D. Ranieri, CPCU
457 Palmer Road
Yonkers, NY
914-376-2560
dcranieri@aol.com


Rollins
Insurance and Risk Management Solutions
Since 1910
65 Main Street
Tuckahoe, New York 10707

914-337-1833
info@rollinsinsurance.com
www.rollinsinsurance.com

 





Home Improvement Directory

Decorators and Interior Design

 

Edwin Gemes, Ltd.

Bronxville
914-779-7580
edwingemes@verizon.net


Madeline Eckett Oden Interiors

61 Beechmont Avenue
Bronxville, New York 10708
914-779-3935
eckettoden@aol.com


Jane Mitchell

9 The Byway
914-337-1216


Samuel Botero Associates, Inc.

215 East 58th Street
Suite 6B
New York, New York 10022
212-935-5155
www.botero.com


Sandra Steele Schneider Interiors

70 Burkewood Road
Mount Vernon, New York 10552
914-668-4468
sssinteriors@verizon.net


Serendipity Interior Design, LLC

Catherine Wyner
203-846-0809 or 203-637-9266


Shannon Interiors LTD.

Kelly Shannon Jelensperger, President
81 Pondfield Road #344
Bronxville, New York 10708
914-793-1629 (O)
914-953-7584 (C)
914-793-2195 (F)
shannoninteriors@aol.com

Design Professionals

Architects


Dean Davis

2 Park Place
Bronxville, New York
914-961-5953


Michael Davis

435 Hudson Street, 8th Floor
New York, New York 10014
212-645-6066
info@michaeldavisarchitects.com
www.michaeldavisarchitects.com


Charles Hilton

Hilton Vanderhorn Associates
31 East Elm Street
Greenwich, Ct. 06830
203-862-9011 (tel) 203-862-9196 (fax)
ch@hilton-vanderhorn.com
www.hilton-vanderhorn.com


Scott Koniecko Architects

80 8th Avenue
Suite 1600
New York, New York 10011
212-620-3924 (tel)
212-620-7640 (fax)
skoniecko@aol.com


Maggie Marrone Architects

914-771-6750
Mgmaia5@aol.com


Peter Pennoyer Architects

432 Park Avenue South, 11th Floor
New York, New York 10016
212-779-9765
peter@ppapc.com
www.ppapc.com


Radoslav Opacic Architects

24 N. Astor
Irvington, New York 10533
914-591-4306 (tel)914-591-4308 (fax)
info@opacicarchitects.com
www.opacicarchitects.com


Landscape Architects


Renee Byers, Landscape Architect P.C.

10 Avon Road
Bronxville, New York 10708
914-337-3103
rb@reneebyers.com
www.reneebyers.com


Engineers


Civil Engineer
Brett Auerhahn P.E.
914-961-2242


Home Maintenance & Improvement

Chimney Sweep


Egan Chimney Sweeps

845-628-8515


Electric


Keating Electric & Technologies

115 Wall Street
Valhalla, New York 10595
914-747-9294
www.keatingelectric.com


Lippolis Electric

445 5th Avenue
Pelham, New York 10803
914-738-3550


James A. Stone

96 Congress Street
Harrison, New York 10528
914-835-0447


White Electric, Inc.

128 Fulton Street
White Plains, New York
914-946-5566
www.whiteelectric.com


 

General Contractors

Vincent Franco
R-Men Contracting
179 Summerfield Street
Scarsdale, New York 10583
914-472-7007 (tel) 914-472-0451 (fax)
Vincent.franco@rmencontracting.com


Arthur Lange Inc.

841 Tuckahoe Road
P.O. Box 993
Bronxville, New York 10708
914-337-4422 (tel) 914-395-0471 (fax)
www.arthurlangeinc.com


Heating & Cooling


Absolute Comfort & Temperature Control Inc.

Mr. Paul Gomprecht, President
914-761-0529
Absolutecomfort1@aol.com
www.Absolutecomfortcontrol.com


Richards Conditioning Corp.

70 Marbledale Road
Tuckahoe, New York 10707
914-337-0300


Besson Oil Inc.

140 Marbledale Road
Tuckahoe, New York 10707
914-779-0008


Iron Work


Debra Coddington

Arrowsmith Forge
3788 Rte 44
Millbrook, New York
845-677-5687
www.arrowsmithforge.com


Locksmith


LMC Safe, Lock & Key

Luigi M. Cattzia II
914-241-1583


Painters


All Colors Painting Co.

69 Delaware Road
Yonkers, New York 10710
(Johnnie & Joey)
914-964-9148


Mateus Neto Painting Co.

95 Chase Avenue
Yonkers, New York 10703
914-965-9561


Pick up and take away


Robert Rabsey
914-954-4366


Technical Help


Computer, Network & Internet Services

Gerry McLoughlin
914-337-7084
www.GerryMcL.com
Computer Tutor @ PCI
914-337-1700
www.computertutorpci.com


Geeks on Wheels

Dylan Hall
Harrison, New York
914-562-1800
info@geekysolutions.net
www.geeks-on-wheels.net


The Computer Nerds, Inc.

PO Box 31
Bronxville, New York 10708
914-779-7952
info@thecomputernerdsinc.com
www.thecomputernerdsinc.com


TV & Steroes


AV Design

130 East Main Street
Elmsford, New York 10523
914-345-2977

Landscape Design & Maintenance

Design


Maureen Hackett

Hackett Landscape Design Inc.
212-768-4242 and 917-494-8084


Renee Byers, Landscape Architech P.C.

10 Avon Road
Bronxville, New York 10708
914-337-3103
rb@reneebyers.com
www.reneebyers.com


Maintenance


Frank Bulfamonte & Sons, Inc.

914-235-1835
26 Circuit Road
New Rochelle, New York 10805
914-235-1835


Land Productions Inc.

360 Adams Street
Bedford Hills, New York
914-666-8214


Lieb's Nursery & Garden Center

1 Askins Place
New Rochelle, New York 10801
914-632-5599


Florists


Tryforos and Pernice

73 Pondfield Road
Bronxville, New York
914-337-2525


Plants & Nurseries

Lieb's Nursery & Garden Center
1 Askins Place
New Rochelle, New York 10801
914-632-5599


Rosedale Nurseries

51 Saw Mill River Road, Route 9A
Hawthorne, New York 10532-1598
914-769-1300
info@rosedalenurseries.com
www.rosedalenurseries.com


Sprainbrook Nursery, Inc.

448 Underhill Road
Scarsdale, New York 10583
914-723-2382
www.sprainbrook.com


Real Estate Recent Articles

 
Sign Up For Newsletter

MyhometownBroxnville reserves the right to monitor and remove all comments.  For more information on Posting Rules, please review our Rules and Terms of Use, both of which govern the use and access of this site.  Thank you.

The information presented here is for informational purposes only. While every effort has been made to present accurate information, myhometownBronxville, LLC, does not in any way accept responsibility for the accuracy of or consequences from the use of this information herein. We urge all users to independently confirm any information provided herein and consult with an appropriate professional concerning any material issue of fact or law. The views and opinions expressed by the writers, event organizers and advertisers do not necessarily represent those of myhometownBronxville, LLC, its officers, staff or contributors. The use of this website is governed by the Terms of Use . No portion of this publication may be reproduced or redistributed, either in whole or part, without the express written consent of the publisher.

Copyright © 2009 myhometownbronxville.com, All rights reserved.