Bronxville NY Real Estate Market Update November 2014

Bronxville is one of my favorite villages in all of Westchester County. Not only because I was born in Lawrence Hospital or that my parents were born and raised here but because it has a special charm that doesn’t exist in many of the other towns. The architecture is warm, historic, charming, and valuable! Many don’t realize that buying a home that is actually within the Bronxville school district can be quite a feat under a million dollars.

One section of the area surrounding Bronxville village is part of Yonkers and even though you can spend a million there, you will have Yonkers schools. Along with that, you will pay the City of Yonkers surcharge income tax. I can explain that in full detail if you need, please message me directly. If you are considering buying a home in Bronxville I strongly suggest taking a stroll down Pondfield Road and getting a feel for the energy I’m talking about.

Ok, enough about my love for the village, let’s get down to the reason we are all here, real estate statistics. There were 7 single family homes sales in October which is down 12.5% from 8 in October 2013. This is the lowest home sales have been since 6 in November 2013, only minor changes. The median price in October was $760,000, down 27.6% from $1,050,000 in October 2013. This is the lowest the median price has been since February 2013. Inventory levels of 84 was down 8.7% from 92 in September and down 7.7% from 91 in October of 2013. The average days on market was 68, up slightly from 67 in September but way down from 111 in October 2013.

Bronxville has a large amount of coop apartments and there were 12 sales this past month. These numbers are down substantially from 22 in October 2013 and the lowest sales have been since 8 in April 2014. The sales/list price ratio moved up to 94.8% fom 94.4% in September. The median price was $248,250, down 2.9% from $255,625 in October 2013 and price per square foot of $233 was also down from $285 in September and $274 in October 2013.

Available inventory of 141 unitsd may seem like a lot but is down 11.1% from 159 in September and 209 in October 2013! The average days on market was down substantially from 102 and way down from 135 in October 2013.

Please feel free to message me for any further details about the area or my favorite restaurant picks!

Happy Thanksgiving to you and your family!

Christopher Pagli - www.WestchesterCountyRealEstateMarket.com

Accredited Buyer Representative

Real Estate associate Broker

William Raveis Legends Realty group

914.406.9023

chris@legendsrealtygroup.net