Scarsdale Home Sales Up in 2010

Good news for Scarsdale and Edgemont homeowners. The market for real estate in our area is on the rebound, where 264 single family homes sold in 2010 vs. 206 in 2009, a 22 percent increase. There was a flurry of activity at the end of the year. Take a look at these late December closings and the annual stats for Scarsdale and Edgemont real estate below: 4 Richbell Road: Nestled on a beautifully landscaped acre in the heart of Murray Hill, boasting a gorgeous pool, this sophisticated home provides a classically designed, elegant setting for gracious entertaining both indoors and out. High ceilings, exquisite moldings and grand fireplaces set a refined tone throughout the nearly 6,000 square feet of living space. Among the many highlights are an updated kitchen, enormous family room and spacious master suite with a sauna.

List Price: $3,100,000
Sale Price: $2,900,000
Real Estate Taxes: $55,626

47 Colby Lane: Elegant home; custom built by the original owners on a quiet and lush one-acre property in the estate area of Scarsdale. Quality finishes and magnificent details throughout. Paneled library, sunlit family room and oversized kitchen with gathering space for family and friends. 4 zone A/C, central vacuum, heated garage and abundant storage.

List Price: $2,645,000
Sale Price: $2,786,000
Real Estate Taxes: $66,300

33 Wynmor Road: Newly constructed, bright, stunning home near the Heathcote Elementary School and Five Corners. Beautiful moldings and elegant trim. Chef's kitchen with double ovens, sinks and Bosch dishwashers, Viking stove and 48 inch Sub Zero refrigerator. Generous size bedrooms all with their own baths. 1500 sq foot finished basement.

List Price: $1,995,000
Sale Price: $1,950,000
Real Estate Taxes: n/a

 

21 Morris Lane: Fabulous private location for this exciting sophisticated home. Great pillared porch across front. Lots

of glass in every room looking out to exquisite property. Two fireplaces and spacious rooms.

List Price: $1,995,000
Sale Price: $1,800,000
Real Estate Taxes: $44,200

36 Taunton Road: Elegant 1939 Center Hall Colonial in Crane-Berkley. Spacious rooms, oak floors, many highlights. Renovated eat in kitchen with adjacent family room. Glass octagonal atrium for relaxing or entertaining. Quiet, safe streets.

List Price: $1,799,000

Sale Price: $1,750,000
Real Estate Taxes: $45,615

33 Graham Road: Lovely four-bedroom Cape offers charm, space and style. Highlights include an entertainment-sized deck, sparkling hardwood floors and central air. Living room with fireplace and high ceilings, dining room, large bright kitchen with breakfast area opening to deck and yard. Inviting lower level family room, laundry and gym.

List Price: $795,000
Sale Price: $740,000
Estimated Taxes: $15,480

2010 Real Estate Sales Wrap-Up

Scarsdale and Edgemont real estate sales picked up strength in 2010. Sales of single-family homes, condominiums and cooperatives increased 25% in the Scarsdale school district and 35% in the Edgemont school district over the corresponding period in 2009. Third quarter sales’ volume accounted for the majority of the annual activity with 45% of total sales in Scarsdale and 35% in Edgemont closing from July to September.

Scarsdale Sales Stats:

In total, 202 single-family homes sold in the Scarsdale school district in 2010 versus 160 in 2009.

• Sales were split fairly evenly between Fox Meadow, Greenacres, Edgewood, Heathcote and Quaker Ridge.
• The minimum selling price was $465,000 for a 3 bedroom/1bath home on 0.15 acres in Edgewood and the maximum selling price was $5,025,000 for a 6 bedroom/6 bath home on 1.677 acres in Heathcote.
• The average selling price based upon an average 5 bedroom/4 bath home was $1,458,010 with 182 days on the market.
• 37 properties, or 18%, sold for $2,000,000 and above. 70 homes, or 35%, sold below $1,000,000 with volume consistent from the prior year.

According to Doug Smolev, Director of Sales and Marketing, at Ginsburg Development Companies condominium sales downtown at Christie Place are near completion . There are only six residential untis to sell and new tenants will soon move into the remaining commercial space. Luxury residences for an active adult community age 55 plus in Scarsdale village has attracted local homeowners who want to downsize from homes to condominiums.

Edgemont Sales Stats

In total 62 single-family homes sold in the Edgemont school district in 2010 versus 46 in 2009.

• 26 sales occurred in the Seely Place neighborhood and 36 in Greenville.
• The minimum selling price was $565,000 for a 4 bedroom/2 bath on 0.15 acres and the maximum selling price was $4,236,250 for a 6 bedroom/6 bath on 1.50 acres.
• The average selling price based upon an average 4 bedroom/4 bath home was $1,318,704 with 188 days on the market.
• 7 properties, or 11%, sold for $2,000,000 and above as compared with only one property selling for this sum in 2009. 27 homes, or 44%, sold below $1,000,000 with volume consistent from the prior year. Notably 63% of single family homes sold below $1,000,000 in 2009.
• Total sales volume for cooperatives increased 49% over 2009. Sales volume for condominiums remained consistent from year to year.

Looking towards 2011, Mark Nadler, President and Principal Broker of Prudential Centennial Realty, said, "I am cautiously optimistic that the real estate market in Scarsdale is solidifying as sellers come to terms with new price points below the peaks from several years ago. Buyers seem more comfortable as consumer confidence slowly improves. The rising interest rates are also pushing buyers from the sidelines, realizing that any drop in price will be more than offset by higher interest rates."

Information provided by Angela Manson, licensed real estate salesperson with Prudential Centennial, Scarsdale, Manson volunteers with local civic organizations and often writes about the community. She welcomes and assists buyers and sellers in Scarsdale and neighboring communities. She may be reached at 914-420-9878 or at [email protected]