Sales Inventory in Short Supply in Scarsdale

Here's the Spring real estate outlook from Lewis Arlt of Houlihan Lawrence: As we enter 2013 spring buying season, nationally we see greater sales than any time since 2007. Economists are now saying housing is the major tailwind to the nation's recovery. However, lack of inventory could be a challenge to that recovery. Indeed, here in Westchester County, inventory is at its lowest level in four years. Customarily, single family homes on the Westchester market number over 3,000 units. This year, there are about 2,600 on the market county-wide. Low supply is usually short-term good news for sellers as it tends to push prices upward. But inventory growth will be crucial to long-term housing recovery. Despite a market awash in eager buyers, folks looking to make a purchase are still largely value driven. And with interest rates threatening to inch higher, it may not behoove sellers to wait for a return to higher prices.

Locally, the Scarsdale market counters the trend, with a growth of 12% of inventory - up from 85 last year to 95 this year. Even better, pending deals are up 45% from 22 to 32, and sold homes year-over-year increased from 205 to 225, a 10% increase. In Edgemont, inventory is significantly down compared with last year, but reflects numbers in alignment with four-year averages. The last twelve months were something of an anomaly in Edgemont, with a remarkable 103 homes changing ownership, up 98% over the previous 12 months, representing the most sales in a decade.

Recent Sales:

44 Murray Hill Road: (Pictured at top) Hampton's living on almost two acres in Murray Hill with Shoreline pool and all-weather tennis court. Dramatic front to back foyer/gallery streaming with sunlight and reflecting pool leads to exciting living room, family room, and cook's kitchen outfitted with custom cabinetry and premium appliances all overlooking expansive property. Additionally, a cherry paneled library, dining room, powder room, pantry, tea room, exercise room, 2 bedrooms and 2 baths on first floor. Upstairs is master suite, 2 offices, two bedrooms, each with bath.

Sale Price: $5,000,000
Real Estate Taxes: $50,343

123 Lee Road: A covered entry porch welcomes you to a delightful Tudor with lovely views and an easy-to-live-in open floor plan on the first floor. Quality construction with 9'ceilings, deep crown moldings, Viking appliances, granite kitchen counters, marble baths, custom cabinetry, hardwood floors, lawn sprinkler system, central vacuum and much more. Four nicely sized bedrooms. Two marble baths plus the powder room.
Sale Price: $990,000
Real Estate Taxes: $21,859

155 White Road: A beautiful brick walkway and driveway enhance the great curb appeal of this sunny home. This picturesque colonial is move- in ready. It is completely updated including all new windows, hardwood floors throughout, and a freshly painted exterior.Sits in quiet residential neighborhood within walking distance to school, park and transit. Bright, comfortable home and property have been well maintained.
Sale Price: $582,500
Real Estate Taxes: $14,458

Featured Listing: 18 Eton Road, Scarsdale
Beautiful sun filled Colonial in Estate Section-Grange of Greenacres. Situated on 1.14 acres of private property. Enjoy the heated pool and large patio right off the gourmet kitchen and family room. Gorgeous two story entrance foyer, incredible master bedroom suite with balcony and lower level with gym, laundry, game room and wine cellar. The perfect home for entertaining.  Learn more here: List Price: $3,395,000

Featured Listing: 280 North Clayton Road, Scarsdale
Fabulous one of a kind arts and crafts inspired Edgemont home on .77 Acre. Top-of-the-line construction including a timeless Deane kitchen with adjoining sunken family room. Spacious 6,708 square feet with 6 bedrooms, 5 full baths, powder room. Stunning pool and 6 person hot tub. Exciting extras include a media room, fitness room, 1000 bottle wine cellar, dramatic screened porch with vaulted ceiling, separate wing with common room for study or play and much more. Light filled, comfortable and elegant. A home to love. Learn more here: List Price: $3,800,000