Market Report by Priscilla Toomey: A Good Year for Bronxville Real Estate Print

Written by Priscilla Toomey, Associate Broker, Julia B. Fee/Sotheby's International Realty

Oct. 8, 2014: As of October 1, there were 23 detached single-family homes on the market in Bronxville Village. The median asking price for those 23 homes was $3,495,000, and the average asking price was $4,046,043. The average asking price at the end of the last quarter was $4,535,263. Fourteen of the 23 homes currently on the market had asking prices above $3 million, though sales above $3 million in Bronxville Village have lagged. Inventory remains low as the traditional after-Labor Day market is a little slow in getting starting.

The story is different for townhouses. There are currently five townhouses on the Bronxville Village market. The average asking price is $1,149,800, with the lowest asking price being $895,000 and the highest, $1,795,000. Townhouse sales have generally been strong in 2014 year-to-date. Each of the three townhouses currently under contract had an asking price above $1 million at the time of contract.

House Sold Year-to-Date

Of the 53 single-family homes that have sold year-to-date in 2014, the median price was $2,195,000, and the average price was $2,181,431. The price per square foot was $625.41. Fourteen of the 53 sold at or above their asking price at the time of sale.

Of the 22 townhouses that have sold through the end of the third quarter, the average selling price was $1,193,568. The price per square foot was $618.36, beginning to approach the average price per square foot for single-family homes. Of this segment, 12 out of the 22, or more than half, closed at or above their asking prices at the time of sale.

No condominium apartments sold during the period. The one condominium townhouse that sold is included with the townhouse sales reported above.

Co-op apartment sales were brisk during the first nine months of 2014, with 32 apartments changing hands in Bronxville Village during the period. Of the apartments that sold, 7 of the 32 sold at or above their asking price at the time of sale. The news here is that the asking and selling prices of the larger apartments (generally 3 bedrooms and above) elicited premium prices and 4 have sold at $1 million or above so far this year.

Overall, though with a few exceptions, it has been a good year for Bronxville Village sellers thus far.

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