End of Summer Sales and the Fall Forecast

A few more homes closed this week, just in time for the opening of school. Now that the summer rush is over, we asked Lewis Arlt, Brokerage Manager at Houlihan Lawrence in Scarsdale for his take on what the fall will bring, and here is what he shared: Nationally, market forecasts are optimistic. Contract signings rose 2.4% in July, to the highest level since April 2010. Closed sales were up 10.4% over last year. Positive numbers are reflected locally as well. In Scarsdale, supply vs. demand ratios remain strong, with 115 Active listings in Scarsdale, compared with 142 last year at this date. And 52 properties in contract, as compared to only 41 last year. This is a significant improvement in the supply demand relationship, which indicates liquidity is growing and the market is strengthening. Prices year to date held at close to the same Median number as 2011, at $1,295,000. Edgemont shows a marked increase in sales over last year - up from 56 to 86 year to date. Although properties priced at the high end are still sluggish. New listings seem poised to enter the market place, buyers and tenants are out looking, and we anticipate a very active fall.

Here’s what sold this week:

41 Murray Hill Road: (Pictured above) A private and secluded retreat on 2 plus acres in Murray Hill. Custom built contemporary of steel, stucco and copper inspired by Frank Lloyd Wright. Built in 1982, and renovated since, this home offers a pond and golf course views, 3 sandstone patios, lawns of blue grass, heated Shoreline pool, 4 car garage, High ceilings, large rooms, walls of glass with views of nature-sunny, bright and private and quiet with an extra building

Sale Price: $2,880,000
Real Estate Taxes: $67,197

41 Butler Road: Elegant Tudor on .39 acres in Fox Meadow. This centrally air conditioned home has a large living room and dining room, Chef's kitchen with access to a patio for outdoor cooking and dining, 2 maid's rooms and bath off the kitchen, a library with generous built-ins, as well as a family room and designer powder room. Upstairs are four generous sized bedrooms with updated bathrooms.

Sale Price: $1,682,600
Real Estate Taxes: $44,120

11 Butler Road: Sun-filled Tudor on picturesque property in Fox Meadow. This enchanting home has been beautifully renovated. Gourmet kitchen adjoins sky-lit dining room with doors to stone patio and yard. Elegant living room ideally suited for gracious living and entertaining. Master bedroom has two walk-in closets and spa bath.

Sale Price: $1,525,000
Real Estate Taxes: $33,000

20 Fenimore Road: English stucco center hall Colonial in Fox Meadow on .40 acre property with big backyard. Chef's kitchen with center island and separate breakfast area, two fireplaces, elegant library plus large family room. New CAC, upgraded electric, radiant heat, hardwood floors, new security alarm system, updated baths, professionally landscaped and new exterior accent lighting.

Sale Price: $1,325,000
Real Estate Taxes: $27,837

148 Nelson: Inviting Tudor built in 2007 with quality construction and many fine upgrades. Versatile great room with a soaring ceiling. Gourmet cook's kitchen with granite counters, custom cabinetry and Viking appliances. Four bedrooms with two full marble baths on the second floor. Two fireplaces. Spacious lower level contains storage room , recreation room and bath.

Sale Price: $975,000
Real Estate Taxes: $25,608

238 Rock Creek Lane: Immaculate home in Secor Farms. Enjoy one floor living, conveniently located, near park and transportation. 3 bedrooms, 2 bath, hardwood floors, playroom and exercise room.

Sale Price: $790,500
Real Estate Taxes: $20,000

7 Glenwood Road, Edgemont: Light and bright three bedroom Tudor with classic architectural details and old world charm. Hardwood floors, steel casement windows, beautiful living room with wood and stone trimmed fireplace, Formal dining room, eat-in-kitchen, master suite and 2 spacious bedrooms on 2nd level, a lovely room with full bath and walk-in closet on 3rd level, perfect for au pair or teen, Four outdoor patios; lushly landscaped private grounds with incredible views.

Sale Price: $934,000
Real Estate Taxes: $26,998

65 Walbrooke, Edgemont: A sparkling gem walking distance to schools K-12, train, Village and Crane's Pond. Lovely gardens and patio, new top notch eat in kitchen, generously proportioned living room with fireplace, large formal dining room, den, New powder room on first floor. Up to master bedroom with gorgeous new bath, 3/1 (updated bath).
Sale Price: $840,000
Real Estate Taxes: $20,094

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Featured Listing: 220 Ferndale Road:
Lovely expanded Ranch featuring two new additions. Bright living room with charming fireplace, dining room with banquette and wonderful open kitchen and family room. Large master bedroom with three further bedrooms plus den that can be a potential fifth bedroom. Enjoy the convenience to the train and bus.

Learn more here
List Price: $799,000

Featured Listing: 5 Eaton Lane: 
Nestled on a private .62 acre with pool, this three bedroom home offers a freshly painted interior and sparkling refinished floors. The entry hall opens to a spacious living room with fireplace and cathedral ceiling, modern kitchen and family room both with doors opening to the patio plus a large finished lower level.

Learn more here:
List Price: $799,999