By Staff

Jul. 27, 2016:  Although a July 7 article in The Journal News says, "Realtors reported a 22 percent increase in the number of residential sales in the Lower Hudson Valley from April to June compared to the same period last year," this does not paint the whole picture, at least not for the Village of Bronxville in the first half of this year.

There was, indeed, a slight increase in the number of sales of single-family homes in the village during the first half of 2016 (22), compared with 19 in the same period the previous year, but the average sales price of single-family homes that sold during the first half of the year is down considerably.

Single-Family Homes. According to a "Bronxville Market Report" sent to Bronxville residents by Julia B. Fee/Sotheby's International Realty, the median price for a home sold during the first half of 2016 was $2,312,500, compared with $2,745,000 in the same period in 2015, down $432,500. The average price was $2,602,955 this year, compared with $2,976,895 in the same period in 2015, down $373,940.  

Co-ops experienced a decrease in sale price in the first half of 2016, too. While the number of sales remained almost the same (19 in 2016 compared with 20 for the same period in 2015), the median price of a co-op fell from $550,000 in the first half of 2015 to $465,000 in the same period in 2015, down $85,000. The average price of a co-op fell from $591,375 to $538,100, down $53,275.  

Townhouses in the village (including Gramatan Court) fared better, with average and median prices increasing, although the number of sales in the first half of 2016 was down--9 in 2016, compared with 14 for the same period in 2015. In 2016, the average price of a townhouse was $1,025,000, compared with $990,000 for the same period in 2015. The median price was $1,116,111 in 2016 for the first half of 2016, compared with $1,064,536 in the same period in 2015.

Whether the lower sales prices foretell a downturn in the village housing market remains to be seen. The year-end 2016 real estate sales report will provide a better picture.

Editor's note:  Sales data are taken from a report by Julia B. Fee/Sotheby's International Realty, courtesy Priscilla Toomey, licensed associate broker.

Pictured here:  Pool in Bronxville during a heat wave.

Photo by A. Warner