November Market Report and Sales

Here's the real estate market report from Associate Real Estate Brokers Laura Miller and Elise Flagg: Sales in November 2014 in Scarsdale were 50% higher than November 2013. There were 15 closings in Scarsdale, versus 10 closings in November 2013. Sales thus far this year total 244 in Scarsdale and at the end of November 2013 only 222 had closed. There are an additional 34 houses in contract at this time that have not closed. Despite the seemingly low inventory, more homes than ever are selling this year.

Edgemont had only 2 closings this November versus 5 in 2013. Sales overall this year in Edgemont, however, were higher than last year. There were 91 closed sales thus far this year and only 86 last year through the end of November. There are an additional 23 properties in contract at this time in Edgemont. Edgemont sales overall are up slightly as well.

It appears that Scarsdale/Edgemont buyers are plentiful and as soon as houses hit the market, if they are priced to show value, they sell quickly giving buyers a sense of urgency to perform immediately and at a robust price in order to get a house in this tight market.

Brokers are confident that the spring market will be a brisk one. Many sellers are waiting to list their homes. They do not want to move until summer once their kids have finished school or they need winter months to de-clutter, organize and make plans to move. As always, this makes spring a popular time to list houses. Many of us have signed listings waiting to hit the market this spring so we are encouraging our buyers to start getting familiar with the market, line up their pre-approval letters and be ready to deal with multiple bidding situations. More listings will be available, but there will be more competition as well.

Scarsdale Since January 2014:

• Up to $1MM: 12 active listings, 56 in contract or sold
• $1MM-$1.5MM range: 13 active listings, 83 in contract or sold
• $1.5-2MM range 10 active listings, 58 in contract or sold
• $2MM-$3MM range: 22 active listings, 51 in contract or sold
• $3MM-$5MM range: 21 active listings, 26 in contract or sold
• $5MM and up: 10 active listings, 6 in contract or sold.

Edgemont Since January 1, 2014

• Up to $1MM: 14 active listings, 49 in contract or sold
• $1MM-$2MM range: 13 active listings, 61 in contract or sold
• $2MM-$3MM range: 3 active listings, 4 in contract or sold

Thinking of moving? We can provide a complimentary market analysis of your home and serve as resource for service providers for de-cluttering your home. Elise Flagg and Laura Miller.

Sales:

40 Sage Terrace: This home was cleared for demolition by the Committee for Historic Preservation on August 19. 2014: Set on a gorgeous level .84 acres sits a lovely cottage streaming with light and filled with charm. Once a carriage house, original beams line the living room ceiling and a custom walnut and slate mantle adorns the fireplace. Large French doors allow the light in and afford views of the stunning perennial gardens. Enjoy the private grounds and 40 foot terrace with Elementary School just across the street. Formerly a barn, the 3-car garage with attic provides additional parking and storage. This property consists of two lots (5-1-57 (.29 acres) and 5-1-58 (.55 acres)) totaling .84 acres. They are being sold together as one package.
Sale Price: $2,525,000
Real estate taxes: $29,518

22 Butler Road: Magnificent stone and brick English Tudor, in the heart of Fox Meadow, on .69 level acres featuring stone walls, large patio, gardens, privacy and tranquility. Possible room for a pool. Rich architectural details, incomparable craftsmanship and hand-crafted windows throughout. Showcasing 7 bedrooms, 5.1 baths, 4 fireplaces, carved plaster moldings and archways, beautiful Oak random width floors and entry gallery with intricate brick floor design. Grand and impressive living room (29' x 20') with 10' ceiling, large leaded glass windows and carved fireplace. Elegant formal dining room (20' x 16') with fireplace, French door to covered porch. Paneled library with fireplace, beamed ceiling. Delightful sunroom opens to patio. Modern kitchen with breakfast room. Sweeping staircase with landing and large leaded glass windows. Dramatic master bedroom suite with Barrel ceiling and fireplace. Ludiwici tile roof. 3 car garage.

Sale Price: $2,425,000
Real Estate Taxes: $44,840

3 Bradford Road: This home was cleared for demolition by the Committee for Historic Preservation: Tudor Revival, complete with a steep pitched slate roof, gables, half timbering, and majestic stone and brick twin chimneys is unlike most Tudors. This house has extensive, multi-paned windows all across the back of the house which floods the inside with natural light. White painted wood floors. Large rooms with a wonderful flow. Pool set in private backyard.
Sale Price: $1,245,000
Real Estate Taxes: $40,210

Featured Listings:

31 Andrea Lane, Scarsdale PO, Edgemont
Beautifully renovated, sleek and sophisticated Edgemont home situated on a park like half-acre property, close to elementary school and commuter bus to train. The gourmet kitchen has custom cabinetry, granite counters, high end stainless appliances and a window seat. The exceptional master suite has a tray ceiling, custom closets and a luxurious master bath. Family room with custom built-ins and gorgeous fireplace leads out to a large patio and gorgeous back yard. This wonderful home is perfect for everyday living and entertaining. Learn more here:

List Price: $1,475,000

40 Walbrooke Road, Scarsdale PO, Edgemont
The American Classic is yours with this often admired classic Colonial in the heart of Old Edgemont, less than ten minute walk to Metro North and schools. Nestled on a knoll with beautiful property and bright spacious rooms, 40 Walbrooke offers all you need for private time, friends and celebrations. Living and dining rooms both with fireplaces and lovely cabinetry, family room with three walls-of-windows, inviting and bright kitchen, five bedrooms that could be 6, gorgeous oak and pine floors, large windows, terrific storage throughout, dreamy private porch, 2-car garage, finished basement, shed/playhouse. Learn more here:

List Price: $1,339,000