An Improvement in High End Home Sales in Scarsdale

Is there a rebound in the sale of luxury homes in Scarsdale? Linda Dietz, an Associate Broker with Houlihan Lawrence shared the following:

Though year end data is not yet available, sales figures through December 12, 2017 shows a strong improvement in the $3MM-$5MM category. These high end sales were up from 15 homes in 2015 to 23 this year to date in 2016, a 53.3% increase. The supply of homes priced at $2.5MM+ is down from 62 to 50 homes, a 20% drop. Prices are also up. Unfortunately, the supply/demand analysis, which compares pending sales to inventory, shows the upper end price categories down but still in the sluggish range. To me this means we have indeed seen more sales on the high end but we still have a lot of inventory. Demand is now very high for homes priced at under $2.5MM but there remains an opportunity for buyers in the high end. Builders continue to buy up modest property and convert it to $3MM+ inventory and empty nesters continue to leave .

We don't yet have the data, but I do think there's been an up tick in activity and a new sense of urgency since the election. Though the future is still very uncertain, at least the question of who will be president (and control of Congress) is settled. I think people are now concerned about a rise in interest rates, which will reduce their purchasing power, but at the same time, like Wall Street, they are bullish about tax cuts and business prospects under the new administration. I believe we will have a strong spring market.

Sales:

10 Broadmoor Road

This Normandy style home has been renovated by Alisberg Parker, with a new slate roof and outdoor entertaining spaces, including a pool, spa and stone terrace with an outdoor kitchen. The entry vestibule opens to the living room with a stone fireplace, dining room, powder room, sunken family room with a fireplace, coffered ceiling with walls of glass opening to the patio, an eat-in chef's kitchen, and butler's pantry. There are four dishwashers, two wine refrigerators, two wall ovens, a cooktop, and stone countertops throughout. The interior cabana has a full bath, outfitted mudroom, and a door to a three car garage outfitted by Garage Tek. Upstairs is a master bedroom with a tray ceiling, dressing room, master bath, study with custom built-ins, and a turret ceiling. There are four more bedrooms, each with its own bathroom, and a playroom over the garage. The third floor has finished space and storage. The lower level has an exercise room and a play area. There is a whole house generator and a Crestron home automation system.

Sale Price: $3,900,000
Assessed Value: $3,425,000
Taxes: $80,353

15 Taunton Road

This center hall brick Colonial home located in Crane Berkeley with views of the park and pond has been featured in House and Garden Magazine. There are architectural details throughout featuring a circular staircase, French doors to a covered patio plus parquet and herringbone hardwood floors. There are floor to ceiling windows in the great room that lead to the first floor bedroom and private bath. There is a state of the art kitchen and breakfast room and a generator.

Sale Price: $1,720,000
Assessed Value: $1,700,000
Taxes: $43,259

3 Putnam Road

This traditional brick center-hall colonial has an entry foyer leading to the living room with a marble fireplace and French doors out to a Juliette balcony, a den/office with custom built-ins, a formal dining room and a kitchen with granite countertops and stainless steel appliances. This home has a stone patio off the kitchen with a level backyard and a waterfall. The master bedroom has a door out to a private terrace and an en-suite bath. There are also four additional bedrooms and two full updated hall baths.

Sale Price: $1,350,000
Assessed Value: $1,250,000
Taxes: $25,568

1170 Old White Plains Road

This home is on .47 acre, with a living room with crown molding and a wood-burning fireplace, a formal dining room with French doors leading to a flagstone patio, an eat-in-kitchen with an island and seating overlooking the rear yard, a family room with a fireplace and built-ins and a fourth bedroom with skylights and en-suite full bath.

Sale Price: $995,000
Taxes: $20,570

Edgemont:

17 Clubway

This new energy star center hall colonial in the Edgemont school has a front portico and hardwood floors throughout. The gourmet eat-in-kitchen has granite counters, stainless steel appliances including a six burner stove, wall oven/microwave, beverage center, garbage disposal, pantry and a breakfast area with French doors leading to the patio. The kitchen and breakfast room flow into the family room with a gas fireplace. The living room opens to the formal dining room. The study/den and powder room are off the entry foyer. The mudroom leads to the garage. There is a windowed staircase leading to the second floor. The master bedroom has a tray ceiling, two walk-in-closets, a master bathroom with two separate vanities, a freestanding whirlpool tub and a separate shower. There are an additional four bedrooms, two bathrooms, one with double sinks and laundry.

Sale Price: $1,425,000
Taxes: TBD

160 Evandale Road

This updated four bedroom split level home has a new open kitchen and a bonus room/office. There are hardwood floors throughout, new carpet in the family room and a recreation/play room in the lower level.

Sale Price: $932,000
Taxes: $24,327

Featured Listings:

35 Church Lane, Scarsdale

This classic, stunning Tudor-Colonial home is situated close to everything one could want for in a home, nestled just steps from the train. Enjoy over a half acre of lovely property with a beautiful surrounding fence, allowing for a private garden and tranquility. Amenities include a grand entrance hallway, formal family room with gas fireplace, original and refinished hardwood floors throughout, high ceilings in the bedrooms, top-quality finishes throughout, modern eat-in kitchen with stainless steel appliances and breakfast area, and a perfect gas fireplace for warming up the room on chilly nights. Spectacular and elegant library with built-ins and with large French doors to side deck for all your entertainment needs. Multi-functional lower level area perfect for a playroom, currently used as an art studio. Don't miss this fantastic home! For more information, click here.

List Price: $2,480,000

49 Carthage Road, Scarsdale

Brand new for 2016. Opportunity for you to customize, if you wish. Five-bedroom Colonial to-be-built in sought-after Scarsdale Heathcote neighborhood by respected second generation builder. Special features include 9 foot high ceilings on all three levels, tray ceiling in master bedroom suite, kitchen open to family room accessing backyard patio, Great location convenient to elementary school, Scarsdale Pool Complex, 5 Corners shopping and Scarsdale train station. You can have it all in Scarsdale. For more information, click here.

List Price: $1,895,000