Priscilla Toomey: Bronxville Real Estate Is Hot and in Short Supply
Jan. 15, 2014: As of January 1, 2014, inventory in the Bronxville Village real estate market was in painfully short supply with only nine single-family homes on the market, of which two were townhouses and at least two already had acceptable offers. The average asking price was $2,197,722.
At the end of the third quarter of 2013, there were 21 houses on the market, of which three were townhouses. They had an average asking price of $2,934,190.
At the end of the second quarter of 2013, there were 31 homes on the market, of which four were townhouses, with an average asking price of $2,631,194. Sales activity in Bronxville Village remains very strong, with multiple offers becoming commonplace.
Four single-family homes were under conditional contract in Bronxville Village as of January 1, and the sales of six single-family homes, of which one was a townhouse, were pending (all conditions met, just waiting to close). Townhouses are a regular point of entry to living in Bronxville Village, so the competition for them, and the desire for houses in that general price range, has been fierce.
During 2013, 84 single-family homes, including 24 townhouses, had sold by December 31, 2013, with an average selling price of $2,133,000 for detached homes and $996,673 for townhouses. Of these, 11 of the 60 detached homes and 7 of the 24 townhouses yielded prices at or above their asking price.
For the same period the previous year, the sales of 62 detached houses had closed, with an average selling price of $2,132,726, and the sales of 22 townhouses had closed, with an average selling price of $902,682.
Year-to-date, 12 of 54 co-op apartments and 2 of 6 condominium apartments closed at or above their asking prices at the time of sale.
For the full year 2013, the average price per square foot for detached single-family homes in Bronxville village was $621.55. For the same period in 2012, it was $557.71. For townhouses, those numbers were $540.50 for 2013 and $478.37 for 2012.
The question for the first quarter of 2014 is whether enough sellers will put their Bronxville Village homes on the market to satisfy at least some of the demand.
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,
Photo courtesy Julia B. Fee/Sotheby's International Realty
