Spring Home Sales in Bloom

The spring market for homes in Scarsdale and Edgemont has launched with 17 new listings on the market this week. The market remains bifurcated however, with homes under $2 million selling quickly and homes over $3 million staying on the market longer and longer.

In the $3 million and up range, days on market are reaching new highs. Of the 59 active listings in Scarsdale priced over $3 million, the average days on market is 123 and the maximum is 348 days. Prices continue to decline on these homes as demand wanes, a reflection of oversupply of high-priced homes forcing sellers to adjust their expectations.

The strength of the US dollar also affects the market for luxury homes which have become more expensive for foreign investors. On the other hand, Streeteasy notes that "while it is possible foreign investors may pull back on investments in the luxury end, the volatility of foreign markets can also make US assets more appealing as foreign investors pursue a flight to safety, i.e. moving their cash to assets that are expected to yield a relatively safer consistent return than what may be available in their local markets."

The market for homes priced under $3 million in Scarsdale is growing at about 2%. Homes that are staged and price to sell are moving quickly and the "days on market" in this segment dropped about 20% in the last year..

In Edgemont, the market for homes priced under $1 million remained stable with the average days on market increasing slightly and the median price rising slightly. The number of single family-homes sold increased in the last year in this price range by 30%.

The over $1 million market in Edgemont saw a decline in units sold by about 17%. Days on market decreased by about 15% while the median price decreased slightly. Demand is waning for the high end in Edgemont as well.

Scarsdale Market Since January 1, 2016

Up to $1MM: 1 active listings, 10 in contract or sold
$1-1.5MM range: 19 active listings 15 in contract or sold
$1.5-2MM range 22 active listings, 22 in contract or sold
$2-3MM range: 35 active listings 11 in contract or sold
$3-5MM range: 46 active listings, 6 in contract or sold
$5MM and up: 11 active listings, 1 in contract or sold

Edgemont Market Since January 1, 2016

Up to $1MM: 5 active listings, 11 in contract or sold
$1-2MM range: 27 active listings, 4 in contract or sold
$2-3MM range: 5 active listings, 2 in contract or sold
$3MM+ range: 1 active listing, 0 in contract or sold

This report was provided by Elise Flagg and Laura Miller of Houlihan Lawrence, Scarsdale.

Sales:

41 Olmsted Road

This tudor stone and brick home is on .75 level acres. There is a slate roof, a circular drive, marble baths, sub zero and granite counters in the kitchen. The living room has high ceilings and a fireplace. There is a formal dining room and a study off the living room, plus a family room with a fireplace. The modern kitchen has a breakfast area with door to patio. The laundry room is off the kitchen and there is a fifth bedroom with an en suite bathroom. There are two slate terraces connected by a screened porch that can be accessed from the living room, family room and kitchen. The second floor has a large master suite with his and her closets and a master bath, two family bedrooms with a connecting bath, and a fourth bedroom with a hall bath.
Sale Price: $3,400,000
Taxes: $58,703

961 Fenimore Road: This mid-century home on 2.6 acres on the border of Mamaroneck/Scarsdale, served by Scarsdale Schools, is landscaped in the property's natural surroundings. The cathedral glass wall overlooks the stone outcroppings and the new wrap-around decking, leading to a pool nestled into a private landscape. A first floor master bedroom suite includes a dressing area and his and her bathrooms. The walk-out lower level has three bedrooms, each en suite.
Sale Price: $1,800,000
Taxes: $43,162

6 White Birch Lane: This five bedroom, three and a half bath, Ackerman built brick front center hall colonial is located on a level half acre on a cul de sac in Quaker Ridge. The living room with wood burning fireplace is adjacent to an office with soaring ceilings, both overlooking the backyard. The formal dining room with a bay window and crown molding opens to an eat-in kitchen with Sub-zero refrigerator and Bosch dishwasher, and there is a den with custom built-ins. There are hardwood floors throughout. The second floor has a master bedroom with walk in closet and a marble en-suite bath with Jacuzzi, and four additional bedrooms and two bathrooms.
Sale Price: $1,450,000
Taxes: $34,223

143 Johnson Road:This freshly painted cape cod style home has more than 1500 square feet, with four bedrooms, hardwood floors throughout, a living room with a stained wood fireplace, kitchen with granite counters, a formal dining room, and a private level backyard.
Sale Price: $745,000
Taxes: $13,385

263 Boulevard: This 1920 Vintage Cottage style home has an enclosed porch leading into a living room with a fireplace, formal dining room, eat-in kitchen, and a mud room. There are three bedrooms on the second floor and a full bath. There is a full basement and a one car detached garage.

Sale Price: $540,000
Taxes: $12,950

Edgemont:

14 Scarsdale Farm Road: A long driveway and courtyard provide the approach to this renovated, enlarged 1.2 acre Edgemont estate, which features a kitchen, two mud rooms, many architectural details (including Carlisle 6" plank walnut floors), as well as a master suite comprised of a 14 x 17 dressing room with an island and custom built-ins, and a master spa bathroom with an infinity bath, shower, double vanities, as well as a river rock floor. The two wings of this home are connected by a breezeway.
Sale Price: $2,040,000
Taxes: $52,767

Featured Listings:

9 Wakefield Road, Scarsdale

Brand new construction in the heart of Heathcote. This is the one you have been waiting for! Idyllic layout for modern living on a wide level property by a well-known local builder. Over 5000 square feet of ultra high-end craftsmanship and architectural details including large entry foyer, powder room, dining room with butler's pantry and pass-through to a remarkably large kitchen with breakfast area that opens into family room, living room and study. The two-car garage enters into the first floor with mudroom, second powder room and back staircase. The master suite has tray ceilings and a sitting area and his and her walk-in closets. There are three additional family bedrooms with one en suite and Jack and Jill bathrooms. A separate laundry room completes the second floor. The lower level is over 1,500 square feet of anything you can imagine including a great room, Bedroom and full bathroom. Walk to shops, elementary school, recreational facilities and houses of worship. For more information, click here.

List Price: $2,899,000

24 Kensington Road, Scarsdale

Sprawling and bright mid century modern gem one of Fox Meadow's most sort after streets. This beautiful ranch sits on almost a half acre of flat and level land. Features include an entry foyer that opens to a sunken oversized formal living room with views of the flat and level backyard. The kitchen has a prep area with two sinks and a separate eating area. The large and open dining room can easily fit the entire family for Thanksgiving and is open to the family room that features sliding glass doors to the back yard. On the same level there is a master bedroom suit with dressing area, two walk in closets and a full bathroom with stall shower and Jacuzzi tub. Two more family bedrooms share a Jack & Jill bathroom. The full finished walk-out basement has a bathroom, additional bedroom/office, playroom, gym, and laundry room. For more information, click here.

List Price: $2,395,000

13 Brookline Road, Scarsdale

Ideal location in coveted Sherbrooke Park, one of Scarsdale's most private enclaves. Architectural detail is showcased so beautifully in this quality built Collette home. Light, gracious and perfectlyproportioned, there are generously sized rooms throughout. The updated kitchen connects seamlessly to a breakfast and gathering area. All bathrooms have been renovated. The two car garage is nearly perfectly level off the back hall, just steps into the kitchen, offering an ideal grocery route. Square footage includes 285 square foot playroom. C/O in process for remaining, approximately 382 finished square feet in lower level. Just a mile plus walk to Scarsdale train and village. Bus to elementary school, middle school and walk to high school. For more information, click here.

List Price: $1,495,000

112 Harvard Road Scarsdale PO, New Rochelle

Situated at the end of a tranquil and private cul-de-sac, this lovely Split Level home is awaiting you. Close to school, transportation, playground and houses of worship, this location is ideal. Special features include beautiful new front door with side lights, living room with cathedral ceiling and oversized bay window, hardwood floors, updated eat-in-kitchen with door leading to large deck and rear yard, enormous family room with cathedral ceiling, plus amazing potential for expansion. For more information, click here.

List Price: $569,000

Open Houses:

25 Mamaroneck Road, Scarsdale
Sunday, March 20th, 2:00-4:00PM

This grand and bright Scarsdale Colonial is the perfect blend of elegance, luxury and beauty. Located on 1.52 acres of spectacular property, this home features a large circular driveway and beautiful pool surrounded by gorgeous landscaping. The 1st floor offers ample space perfect for entertaining and everyday gatherings, including a dramatic foyer, 9-ft high ceilings and huge Eat-In-Kitchen that opens to the family room. Enjoy the superb living room, formal dining room, private library, open sunroom, and large deck off the kitchen, which provides breathtaking views. The sweeping staircase to the 2nd floor takes you to a large Master Bedroom Suite with 2 large walk in closets and a luxurious master bath, plus a 2nd floor family room/office. There are 7 spacious bedrooms, plus 5.5 baths, and 4 fireplaces. The lower level features a playroom area and cabana bath. Move right in and enjoy the ultimate in privacy and serenity in this magnificent home ideally located within walking distance to the train, schools, and town! For more information, click here.

List Price: $2,398,000

352 Heathcote Road, Scarsdale
Sunday, March 20, 1-3pm

Don't miss this unusual opportunity to own a combination of exterior
character and interior sun-filled, sleek and sophisticated design. This house was stripped to the framing and rebuilt inside to afford its new owner a clean-lined home with modern light-filled space. The first level features the perfect layout for everyday living with an open plan chef's kitchen (see special feature sheet for appliance list)/family room with gas fireplace leading to a bluestone patio and level yard, mud room, powder room, dining room and living room with wood burning fireplace. The second level boasts a dream master bedroom with expansive his-and-hers walk-in closets, luxurious master bath, 3 large bedrooms and an oversized hall bath with a triple trough sink. The third level contains an enormous open room for play/office/guests and a full bath. The lower level opens to the yard and offers two finished rooms (playroom and gym) and a full bath. Very close to worship, walk to school, bus and shops! For more information, click here.

List Price: $2,300,000

28 Stonewall Lane Mamaroneck, Scarsdale Schools
Sunday, March 20, 2-4pm

Easy living. This sun-filled Quaker Ridge home is ideally situated on 1.23 magnificent, private acres. The beautiful professionally landscaped property boasts specimen plantings and an in-ground pool and tennis court. It is the perfect venue for both entertaining and relaxation. Highlights of the residence include a master bedroom suite, two fireplaces, skylights, multiple windows, plenty of storage, a formal dining room with a vaulted ceiling, a modern kitchen with a separate breakfast area and a walk-out lower level family room with access to the yard. 2011 propane powered generator. Free bus to the elementary, middle and high school. The ultimate setting for relaxed living. For more information, click here.

List Price: $2,150,000

81 Walworth Avenue, Scarsdale
Sunday, March 20, 1-3pm

Vintage sun drenched Mediterranean Gem in desirable Greenacres brimming with details offers 9' ceilings, hardwood floors, meticulously restored windows, built-ins, doors, moldings and hardware and is lovingly maintained with a host of thoughtful and energy efficient updates in keeping with the its' architectural grace and spirit. Fabulous oversized kitchen (2001) complete with outfitted butler's pantry complements the formal dining room, inviting Library and gracious Living Room which has a handsome beamed ceiling, an impressive Rumford fireplace and leaded glass built ins. With a stylish outdoor loggia, stone patios and perennial gardens to enjoy, this seven bedroom jewel of a home, offers comfortable
elegance with delightful privacy yet a most convenient location with train, school and shops all within a short stroll. A great opportunity to own this special much loved home in most desirable Greenacres! For more information, click here.

List Price: $1,778,000

8 Reynal Crossing, Scarsdale
Sunday, March 20, 1-3pm

This stylishly renovated Cape Colonial with a chic open plan kitchen/family room features a large center island, six burner Wolf range, easy access to the flagstone patio and private yard. The kitchen/family room flows seamlessly into the large living room with fireplace, which is ideal for entertaining. A home office with custom built-ins (originally the formal dining room), powder room, marble topped bar and mud room complete the first floor. The second floor showcases a fabulous master suite with tray ceiling, marble bath with double sinks, over-sized shower and walk-in closet, plus two large bedrooms and a hall bath. The fourth bedroom with full bath is privately located off the back stairs - perfect for guests or nanny. Basement adds additional square footage and features a finished playroom, laundry and ample storage. Newly painted inside and out, gleaming hardwood floors, new windows and custom Hunter-Douglas blinds. Square footage per licensed appraiser. Move right in! For more information, click here.

List Price: $1,445,000

230 Hillair Circle, White Plains
Sunday, March 20th, 1:00-3:00PM

This home was completely renovated in 2012 and features a gracious entry foyer with an open concept floor plan that flows into the living room with fireplace and dining room with vaulted ceilings, recessed lighting and French doors to the garden. The brand new fully renovated and completely custom kitchen is bright and open to the family room with built-in book cases and doors out to the patio. The master suite includes two new walk-in closets, French doors to the backyard and a new 5-fixture master bathroom. Three more family bedrooms and two full baths and hardwood floors throughout completes this no step ranch. The full walk-out basement is completely renovated with a large family room, new cedar closet, laundry room, two more bedrooms/office and a full bathroom. Additional renovations include new high efficiency furnace, hot water heater, and A/C. For more information, click here.

List Price: $1,070,000