Real Estate
Bronxville NY Home Sales Are Up - October 2015
Bronxville NY single family home sales are up. Year to date there have been 43 sales and homes are selling at a rate of 3.5 per month.
Home Sales Are Up In Bronxville NY - October 2015
Sales
There were 12 unit sales in October. This is up 71.4% from 7 in October of 2014. Sales/list price ratio in October moved down to 95.4% from 95.9% in September.
Prices
Find out what's happening in Bronxville-Eastchesterfor free with the latest updates from Patch.
Median price in October was $1,110,000. This is up 46.1% from $760,000 in October of 2014. 3-month median price of $997,000 in October was down a little from $1,032,000 in September and down just slightly from $1,005,000 in October of 2014. Price per square foot in October was $452. This is up from $345 in September and up from $315 in October of 2014.
Inventory
Find out what's happening in Bronxville-Eastchesterfor free with the latest updates from Patch.
Inventory of 88 in October was down 2.2% from 90 in September but up 3.5% from 85 in October of 2014. New listings in October were 18, unchanged from the same month last year. Months of supply of 6.8 in October was down modestly from 7.2 in September but up slightly from 6.2 in October of 2014.
Market Time
Days on market of 86 in October was up considerably from 61 in September and up moderately from 68 in October of 2014.
To date there are currently 30 active single family homes on the market in Bronxville (Town of Eastchester), and within the sought after school district. There were a total of 43 single family homes sold year to date, the absorption rate is 3.5 homes selling per month.
With current inventory levels it could take 8.5 months to sell through the active homes.
How did I arrive at these numbers? To calculate the absorption rate we must first find out how many homes have sold within the past year and divide by 12. This tells us the absorption rate or how many homes sell per month. Take the amount of current inventory and divide by the absorption rate, this will tell you how long it could take to sell your home. Of course other factors come into play but this is a good guide.
The information should come directly from the MLS to ensure you are getting the most accurate data.
This is important information for anyone considering selling their home. It gives you a clear visual of how the local market in Bronxville is performing. Proper pricing right from the start is crucial because otherwise you may sit on the market and wind up chasing it down the road.
If you would like market data on any other Westchester County town please feel free to contact me directly on 914.406.9023, email - chris@LegendsRealtyGroup.net, or visit my website www.WestchesterCountyRealEstateMarket.com
