Priscilla Toomey: Village Real Estate Market as of July 1, 2014: Prices High Print

Jul. 16, 2014:  As of July 1, 2014, there were 25 single-family homes on the market in Bronxville Village, including five townhouses. The high end is up significantly. The asking price for single-family homes, not including townhouses, averaged $4,535,263. This is more than $1 million higher than it had been toward the end of 2013. Of the 20 single-family homes, not including townhouses, 12 of the 20 had asking prices above $3 million. The average asking price for the townhouses was $1,178,429, and five of those seven townhouses had asking prices above $1 million.

For the first half of the year, of the 27 single-family homes (not including townhouses) that have sold, eight of them sold at or above their asking price at the time of sale. Of these, three sold between $1 million and $1.999 million, three sold between $2 million and $2.999 million, and two sold over $3 million. Of the nine townhouses that sold during the period, six sold at or above their asking price at the time of sale.

There were 31 houses in contract at the end of the second quarter, of which eight were townhouses. During the period, 36 single-family homes had sold, including nine townhouses.

During the first half of 2014, the median price of single-family homes (not including townhouses) that sold was $2,250,000, versus $1,900,000 for the same period in 2013. In 2014, there were 27 homes in this segment, versus 33 in 2013. Their average selling price was $2,213,068, versus $2,135,773 in 2013.

Price per square foot also increased, to $629.54 from $608.38. Nine townhouses sold during the first half of 2014, versus 11 in 2013. Their median price rose to $1,155,000 from $917,500 in 2013. Their average price also rose--to $1,227,222 from $969,045 in 2013, and their price per square foot rose to $624.11 from $526.94.

The rise in both asking and selling prices indicates the strength and optimism that characterize the Bronxville Village real estate market at the end of the first half of 2014.

Pictured here:  Priscilla Toomey, associate broker, JD, ABR, Top5, certified EcoBroker, SRES with Julia B. Fee/Sotheby's International Realty; cell, 914-559-8084; e-mail, CLOAKING .

Photo courtesy Julia B. Fee/Sotheby's International Realty