Market Report: Sales Down in Scarsdale and Up in Edgemont

Sales as of the end of November 2015 in Scarsdale are down 10.7% from the same period last year. In 2015 there were 218 sales versus 244 last year accompanied by a 27.6% increase in active inventory, with 111 listings versus 87 at this time last year.

The upsurge in inventory is most pronounced at the high end of the market, where there is a 90% increase in listings in the $3-5MM range and a 37.5% increase in inventory of homes priced over $5MM. The biggest change in sales was in the $3-5MM range which dropped 31.8%. There is a nice selection of homes priced above $3 million available in prime locations in Scarsdale. Demand for homes priced below $3mm remains strong.

For the first eleven months of the year, sales in Edgemont increased 8.8% increase over last year with 99 sales this year versus 91 last year. There is also a 16% increase in inventory with 36 active listings versus 31 last year. The $500,000-700,000 market saw a 33.3% increase in sales and the $700-1MM market saw a 34.5% increase. All other price ranges were slightly down in number of sales. The market below $1.5 continues to be in high demand in Edgemont.

Realtors are anticipating an influx of inventory early in the New Year and hope for an influx of buyers, as well. Many sellers are waiting to list their homes until spring when new buyers are scouting the market to learn more about prices and value, and to line up pre-approvals for mortgages.

Market Summary:

Scarsdale: January 1 – November 30, 2015:

• Up to $1MM: 9 active listings, 56 in contract or sold
• $1-1.5MM range: 11 active listings, 77 in contract or sold
• $1.5-2MM range 23 active listings, 55 in contract or sold
• $2-3MM range: 19 active listings, 52 in contract or sold
• $3-5MM range: 38 active listings, 24 in contract or sold
• $5MM and up: 11 active listings, 5 in contract or sold

Edgemont: January 1 – November 30, 2015:

• Up to $1MM: 8 active listings, 58 in contract or sold
• $1-2MM range: 21 active listings, 54 in contract or sold
• $2-3MM range: 8 active listings, 4 in contract or sold
• $3MM+ range: 2 active listing, 3 in contract or sold

-This information was provided by Laura Miller and Elise Flagg of Houlihan Lawrence Scarsdale.

Sales:

14 Reimer Road

This center hall Colonial sits on a level, private, 1.32 acres in Murray Hill and features hardwood floors, fireplaces in both the living room and dining room, and a lovely paneled study.

Sale Price: $3,000,000
Taxes: $60,777

361 Heathcote Road

This colonial has a covered porch, eat-in-kitchen with center island and breakfast area open to a (16x19) family room with a fireplace and french doors to the library. There is a formal living room (13.4x19.4) and dining room (14x15.9). The mudroom and laundry room are off the kitchen that leads to a two-car garage. The master bedroom suite has a tray ceilings, his and her walk-in closets (26x19) and a separate sitting room (11x12). There are three additional bedrooms and two full baths. There is also an area that could be customized as an open study loft. The lower level boasts an additional 1600 square feet that will be finished with a playroom, bedroom and full bath.

Sale Price: $2,627,500
Taxes: TBD

22 South Church Lane

This colonial is located in the Crane-Berkley neighborhood of Fox Meadow. Set on .41 acres of lush property, this home has been renovated over time. There is a living room with high ceilings and a gas fireplace, an eat-in-kitchen with hi-end appliances, family room with built-ins and random width peg oak floors, master bedroom with tray ceiling, cedar walk-in-closet, juliet balcony with an awning, skylight and master bath. Hi-lights include oak trimmed Marvin windows through-out, oak hardwood flooring, all cedar closets, multiple built-ins, and three zone central air/two zone heat. The yard features a bi-level stone patio with a gas barbecue and is surrounded by mature evergreens and a high stone wall, offering great privacy.

Sale Price: $1,844,000
Taxes: $33,848

28 Crossway 

This four bedroom colonial has a two car attached garage, hardwood floors throughout, stone patio, a fenced in level backyard, entry foyer, living room with fireplace, formal dining room with picture window, family room with door to patio, powder room, gourmet eat-in kitchen with Viking/Miele appliances, new cabinets, limestone backsplash and granite counters, master bedroom with walk-in closets and updated master bath, three additional bedrooms and updated hall bath with dual vanity. Square footage includes 792 square foot legalized finished lower level with versatile playroom area, full bath, laundry room, pantry room, utilities and extra storage.

Sale Price: $1,410,000

Taxes: $25,980

148 Lyons Road

This colonial home has a fireplace in the living room and master bedroom.

Sale Price: $645,000
Taxes: $13,207.29

Edgemont:

79 Inverness Road

 This Cotswold area house has a California feel on a private setting on .48 acres. There is a private bedroom wing and a redone kitchen with storage, counter space, breakfast area, office space and laundry area. There are four bedrooms, 3.5 bathrooms, two fireplaces, a two-car garage, and central air conditioning.

Sale Price: $1,256,000
Taxes: $32,328

5 Robin Hill Road

This house is on top of Robin Hill with a half acre of two sub-dividable lots. The lower level has a family room/in-law suite with bathroom and a separate entrance to the patio and backyard. There are new lighting fixtures added throughout, as well as dual-zone central heating/air conditioning. There is a lighted Bessler attic and a crawl space. Many landscaping additions throughout including eight mature Crabapple and Dogwood trees and a mini irrigation system installed for shrubs and flower beds. There are newly stained, polished hardwood floors, freshly painted interior/exterior, cathedral ceiling, eat-in-kitchen, granite counters, stainless steel appliances, new cooktop, new water heater, sprinkler system, walk out basement, alarm system, and a 200 amp panel.

Sale Price: $1,150,000
Taxes: $27,885

34 Seely Place

This Colonial in Old Edgemont on .43 Acres has three updated bedrooms, 2.1 baths plus an office, central air conditioning, Marvin windows, copper gutters and hardwood floors. There are French doors to a flagstone patio overlooking the garden.

Sale Price: $1,100,000

Taxes: $23,044

65 Moorland Drive

This home features an updated eat-in-kitchen with granite countertops, skylights and stainless steel appliances. The first floor master bedroom includes a master bath with heated floors and a steam shower. The dining room has a view of the backyard through the sliding glass doors. The living room has a wood burning fireplace. Upstairs there is a large bedroom with storage and closets, another large bedroom with a sitting area and a playroom.

Sale Price: $999,999
Taxes: $26,529

2 Tanglewood Road

This 1950's split home sits on 1/4 acre in Edgemont. There is a new furnace, electrical box and wiring. The roof is less than five years old. The land is .24 acre with 75 frontage and 107 depth (10,870 sq. ft.) on a corner lot. The basement is wood paneled, with a laundry room and half bath.

Sale Price: $547,000
Taxes: $19,344

Featured
Listings:

3 Brookfield Lane, Scarsdale

Extraordinary sun-lit Contemporary with 6953 square feet of exquisite interior space filled with skylights and walls-of-windows located on beautifully landscaped, secluded 1.09 acres in Heathcote at the end of a cul-de-sac. Built in 1987 and creatively renovated and expanded in 1999. Spacious brick circular drive to front door with ample parking for guests. Dramatic entry with 27' vaulted ceiling and herringbone cherry floors. Amazing gourmet kitchen/great room with capacious space for cooking, dining, office work, entertainment and family gatherings. Wrap-around deck off kitchen and living room with a second deck off the library. Master suites on first and second floors. Twelve rooms, six bedrooms, six full baths and a powder room. 30' waterfall cascading into a delightful pool surrounded by a flagstone patio. Numerous walk-in closets and custom built-ins. Elevator to all floors. A one-of-a-kind spectacular home perfect for entertaining inside and out. It takes your breath away.  For more information, click here.

List Price: $3,595,000

14 Paddington Road, Scarsdale

Magnificent stone, brick and stucco Tudor Manor House with a slate roof on a level .41 acre in the heart of Fox Meadow with a fine close-in location to Scarsdale Village amenities and Metro-North train to NYC. A through spacious center hall leads to a grand step-down living room with fireplace and 9' ceilings adjoining a sunny library/family room, a formal dining room and a large kitchen with a Garland range/ oven, a family dining area and desk center. Sliding doors a to flagstone patio across the back of the house also reached from the center hall and library. Six bedrooms including four on the second floor with three baths and two more bedrooms and a bath accessed from the kitchen. Two powder rooms. Large leaded windows let the sun shine in from all directions. Fine architectural details include a grand staircase, beautiful oak floors, a barrel ceiling on the second floor landing and wide open doorways on the first level. A grand opportunity to make one of Scarsdale's finest homes your own. For more information, click here.

List Price: $2,295,000