Home Sales: Is the Market Looking Up?

As reported by Houlihan Lawrence of ScarsdalFinally, after three years of soft home sales the market shows signs of turning a corner. News of lower interest rates and a slight increase in inventory mean that the Scarsdale market is projected to end 2024 with home sales almost even with 2023, but at meaningful higher prices. Edgemont is also seeing big price increases but the overall number of homes sold year to date is disappointing.

Here are the numbers as of September 30, 2024, the end of the third quarter, according to a market report from Houlihan Lawrence.

In Scarsdale, as of September 30, 171 homes were sold this year, as compared to 165 as of September 30 in 2023, a 4% increase. The median sale price rose 15% from $2,005,000 to $2,300,000.

In Edgemont, year to date sales as of September 30 were 52, a 24% drop from 68 homes sold as of September 30 in 2023. The median price rose a dramatic 23% from $1,337,500 at this time in 2023 to $1,650,000 at the end of the third quarter in 2024.

For the past ten years, the number of homes sold peaked in 2021 when 353 single homes sold in Scarsdale. In more typical year, home sales hovered around 250. So the market still has some recovering to do, but is hopefully trending upwards.

This week, two out of the three Scarsdale homes sold have gorgeous pools making you think of hot, lazy days of summer and not these cool October skies. Check out these recently sold homes and two featured listings below. 

Sales:

5 Harvest Drive  Perfect for entertaining, this exciting, mid-century modern split-style home offers a park-like, private property w/a stunning 50 ft heated, salt water pool w/spa, plus a separate pool house. Located in a highly sought-after Quaker Ridge neighborhood, this 5-bedrm, 4-bathrm multi-level home has an open, mid-century modern vibe. The spacious Entry Hall offers picturesque views of the rear property. The Living Rm is large w/a wood-burning FPL, then formal Dining Rm, updated Kitchen w/quality appliances (SubZero fridge, Viking range, Bosch etc),adjacent Family Rm & Sun Porch. Features incl well-proportioned bedrms, updated baths, multizone HVAC, 2-car garage, and a huge, unfinished walk-out basement for add’l potential gym or play space. Professional landscape architect designed, the property is enchanting & brilliantly integrates the pool, pool house & broad lawn area, a perfect layout for grand entertaining or quiet relaxation. Move-in ready.
Sale Price: $2,050,000
Real Estate Taxes: $30,838
Assessment Value: $1,375,000

102 Penn Road  This beautiful Center-Hall Colonial set on .38 acres epitomizes the charm and convenience of Scarsdale living. The property offers an ideal blend of comfortable daily living and exquisite spaces for memorable gatherings. Upon entering the foyer, you are welcomed into a sunken living room with a cozy wood-burning fireplace and an elegant dining room. The modern, white eat-in kitchen is expansive, featuring a sunlit breakfast room with sliding doors leading to the patio, backyard, and stunning pool. Adjacent to the kitchen is a family room, lined with windows offering views of the delightful and well-screened backyard, and includes a breakfast bar with stools for casual dining. Additionally, there is a versatile family room, playroom, or home office with sliders to the backyard, providing flexibility to suit your needs. The first level is completed by a full bath, mudroom closet, small pool changing room, and a 2-car garage. The second level is highlighted by a spacious primary suite, which boasts three walk-in closets, a full bath, and an adjoining sitting room, home office, or gym with a private balcony overlooking the garden and pool. This floor also features two large bedrooms sharing a hall bath and a fourth bedroom with an ensuite bath. The lower level includes a versatile room, a full bath, an open space ideal for music practice or play, and a large utility room with laundry facilities. The enchanting backyard is fully fenced and screened with lush greenery, ensuring privacy. The gorgeous heated pool, updated in 2020, and the patio provide perfect settings for summer relaxation and entertainment. This remarkable Scarsdale home offers an ideal layout for both everyday living and hosting large gatherings, making it perfect for get-togethers, celebrations, and holidays.
Sale Price: $1,775,000
Real Estate Taxes: $30,777
Assessment Value: $1,150,000

1221 Post Road Step into the charm & elegance of Scarsdale's history w/this sought after Red Brick Colonial home built in 1927 w/3 bedrms, 2.1 baths & 2,377 sq ft. Nestled in the Greenacres neighborhood, this timeless residence offers a perfect blend of classic architecture, a sprawling, flat & private .36 acre yard. Inside, you'll discover spacious rooms adorned w/original hardwood flrs, intricate moldings & 9’ ceilings. The living room, w/its inviting fireplace, is perfect for cozy evenings, while the formal dining room sets the stage for elegant gatherings, a home office, sunroom, powder room & eat-in kitchen w/doors to the yard make this an easy home to live in. The unfinished basement & walk-up attic offer many possibilities. Furnace 2022, HWH 2023, twin above ground Oil Tanks 2017. A detached garage offers convenience & storage, completing the picture of this idyllic property. Just minutes from schools, shops, parks & train. Short steps to Greenacres ES. A must see & home being sold "as-is".
Sale Price: $1,160,000
Real Estate Taxes: $19,972
Assessment Value: $750,000

Featured Listings:

22 Old Lyme Road  Welcome to this stunning modern villa-style home featuring 11'-high ceilings, which create a spacious and luxurious atmosphere. Well insulated whole house from attic to basement outside wall, inside laundry wall and master bathroom wall. All piping insulated, and hot water return fast pump. This house is constructed with high-quality materials, with extensive use of marble, quartzite, and Onyx, especially in the kitchen area and bathroom countertops. The kitchen is impeccably designed with stone features and wood cabinets, Thermador appliances, and high-end appliances, making cooking a pleasure! The sunroom is the perfect relaxation or entertainment space, basked in sunlight via skylights. Marvin high quality windows and doors. Front door and side doors are iron custom. This villa boasts six/seven (easily turn one office into a bedroom with closet) spacious bedrooms and six bathrooms, including five full bathrooms and one half bathroom. Each room's layout is thoughtfully designed to ensure a perfect blend of comfort and functionality. All six bathrooms are finished with high-quality marble tiles, and some feature Onyx countertops, adding an extra touch of luxury. The second-floor master bathroom features a walk-in closet and is very dramatic and large. Additionally, the second-floor master bathroom has a 10' tri-ceiling. The entire house is equipped with a high-efficiency electric hot water boiler and central AC, ensuring a comfortable living environment year-round. This home is situated on a 0.45-acre garden, offering a spacious and bright outdoor area, which includes large outdoor deck perfect for barbecues, and the backyard is very private. The location is incredibly convenient, being just a two-minute walk from the elementary school on a tranquil road. Attic has a potential 1000 square feet extra to finish. Basement measures about 1600 square feet. CO is being processed. Garage will be painted prior to closing. A must see home!
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Listing Price: $3,999,000

23 Stonewall Lane  The open floor plan of this bright, well-maintained Split Level home is evident from the moment you enter. From the entry foyer, the house flows on all sides - to the enormous living room with soaring ceilings, hardwood floors and wood-burning fireplace, large dining room with built-in cabinetry, eat-in-kitchen with breakfast nook, and doors out to the oversized deck. The entire first level offers fabulous space for entertaining or casual everyday living. The lower level offers additional bright space with windows in every room and featuring a generously proportioned family room with second fireplace and door to deck, an office/fourth bedroom, full bath, laundry room and 2-car attached garage. Upstairs includes the primary bedroom/primary bath and two other large bedrooms which share the hall bath. Situated on a level .44 acre lot on a cul-de-sac side street shared by only two homes, this location can’t be beat!
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Listing Price: $1,475,000