Market Update and Recent Sales
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Edgemont Market Update: Sales in Edgemont are enjoying a strong start in 2012, evidenced by record levels of activity during this past winter. The market has been helped by an unseasonably warm winter and a perception that the market has bottomed out while interest rates may start to rise.
I think it is important for Edgemont residents to know that the Edgemont market is once again attracting buyers.
As of the end the first quarter 2012, there are currently 77 homes on the market in Edgemont, with 14 homes under contract, and 13 homes pending (property on which contracts have been signed but have not closed). Pending sales is the most accurate gauge of real-time activity, as closings generally lag pending sales by sixty to ninety days. Pending sales, unlike sales that are reported as under contract, are not (or are no longer), contingent on mortgage approval.
Edgemont has 17 closed sales in the first quarter of 2012, with a median price of $1,095,000. This compares favorably to the first quarter of 2011, with 6 closed sales, and a median price of $917,500. Median price and unit sales increased 19% and 183%, respectively, for the first quarter 2011 and first quarter 2012 on a year over year basis.
At the current rate of sales activity, 2012 looks to be a solid year for Edgemont. At year-end 2011, Edgemont had 49 homes sold, with a median price of $925,000. At the end of the first quarter 2012, closed sales, home under contract, and homes pending, represent total activity of 44 units, only slightly behind the full year 2011 activity. It is also worth noting that 2012 first quarter closing of 17 units is the highest level Edgemont has seen in the past 6 years. In 2007, the height of the market, first quarter closed sales totaled 16 units.
Within the Cotswold neighborhood at the end of the first quarter 2012, there are currently 3 homes for sale, 2 homes under contract,
4 homes pending, and 3 homes sold in the first quarter. Remember that the Costwold neighborhood association prohibits the placement of any signs on your property, including for sale signs.
Andrea K. Weiss is a sales associate at Julia B. Fee Sotheby’s International Realty, located in the Village of Scarsdale. She is a Cotswold resident and neighbor, and sits on the board of the Edgemont Community Council.
Sales:
24 Myrtledale Road: Spectacular new construction on cul-de-sac just down the block from Aspen park. Quality construction with exceptional attention to detail: 9 foot ceilings, select oak floors, custom millwork, gourmet kitchen with custom cabinetry and separate breakfast area and luxurious master suite. Lower level includes playroom, exercise room, full bath, mudroom with cubbies and storage. Level, private .33 of an acre
Sale Price: $2,317,500
Real Estate Taxes: TBD
9 Eastwoods Lane: Solidly built 1932 Colonial on a beautiful quiet street. An elegant and charming ambiance is created with outstanding moldings, archways, hardwood floors and French doors. Chef's kitchen with solid cherry cabinets, granite counters, 6 burner Viking stove and Subzero refrigerator. Beautiful tumbled Marble master bath with double vanity. Large fenced yard with new deck.
Sale Price: $1,380,000
Real Estate Taxes: $30,926
14 Robin Hill Road, Edgemont: Fully updated Tudor. Wonderful space with great layout and private yard. Living room with fireplace and French doors to covered patio, family room, formal dining room, large new eat in kitchen. Three family bedrooms, with updated hall bath, large Master bedroom with cathedral ceiling and ultimate Master Bath.
Sale Price: $1,100,000
Real Estate Taxes: $27,631
31 Penny Lane, Edgemont: Spacious Center Hall Colonial with four bedroom and 2 1/2 baths on .55 acres. Private patio and backyard. Plenty of closet space. Central air throughout home including 1,300 square foot basement that leads to a two-car garage.
Sale Price: $900,000
Real Estate Taxes: $36,307
2 Hazelton Drive: Terrific sun-filled stone-front Colonial in Secor Farms. Beautifully proportioned principal rooms, glass enclosed sunroom/den and gourmet kitchen. Marvelous lower level family room and office lead to rear yard, patio and beautiful level property. Exquisite custom designed home.
Sale Price: $744,000
Real Estate Taxes: $20,000
25 High Point Lane, Edgemont: Gorgeous 1.786 acres of level secluded property consisting of two lots. (One lot fronts on High Point Lane with 1.016 acre; the other is at the back of the property with no street frontage on .77 acre.) A sub-division into 2 building lots may be possible. The house needs total renovation or demolition. A special site with beautiful specimen plantings. A rare opportunity to create the house of one's dreams or to restore a charming colonial.
Sales Price: $600,000
Real Estate Taxes: $34,033
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Featured Listing: 160 Evandale Road
Charming 2,500 square foot residence within walking distance to the elementary school. A lovely entry opens to the living room with fireplace, formal dining room with access to the large deck overlooking the property, modern kitchen with breakfast area and three gracious bedrooms. Lower level family room. Learn more here:
List Price: $829,000
Featured Listing: 6 Forest Lane
Renovated and well maintained, this five bedroom Classic Center Hall Colonial features a new kitchen with breakfast area, center island, skylights and a door to the private patio. Living room with grand fireplace and built-ins, spacious dining room and master suite with sitting area and full bath. Learn more here :
List Price: $1,199,000
Spring Sales Abound
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Jason Wilson, the Manager of Scarsdale’s Julia B Fee Sotheby’s International Realty will be hosting a new Westchester real estate radio show called “How’s the Market?” on Saturdays from 2pm-3pm on AM 1230 WFAS. The show’s focus is the Westchester housing market and Jason will feature Westchester housing statistics and interviews with other Westchester housing experts and residents. This will be a live show where people can call in (914-693-5700) and ask questions. The shows can be heard on the radio or the computer and all of the shows will be recorded and available on the wfasam.com website.
This week’s show will be an overview of the market and explain the shows mission statement. Next week retired assessor Rich O’Donnell will be the guest. Learn more here.
Sales:
20 Sage Terrace: Beautifully renovated and lovingly maintained, 6 bedroom, 3.5 bath classic center hall colonial in Greenacres. Living room with fireplace, sunroom, dining room and fabulous kitchen with top of the line appliances adjacent to family room. Patio and private backyard. Upstairs master suite with sitting room and bath plus good sized family bedrooms.
Sale Price: $1,622,000
Real Estate Taxes: $28,217
11 Bretton Road, Edgemont: New construction in Old Edgemont. This 4 bedroom 3.5 bath green, energy star home is light and its estimated monthly energy costs are $250 to $300! The square footage includes 700 square feet in the finished basement. Move right in to this wonderfully constructed, environmentally friendly home.
Sale Price: $1,252,500
Real Estate Taxes: TBD
52 Inverness, Edgemont: Right rooms, right flow, right size in this center hall colonial with great space and layout. Convenient Cotswold location and one half acre of flat yard, makes this an easy choice. Family room off kitchen, and sliding glass doors to pretty yard and patio. Five bedrooms on second level and one on the first floor.
Sale Price: $999,999
Real Estate Taxes: $39,953
92 Highland Road, Edgemont: Split on half acre. Sunny entry, inviting gourmet kitchen with granite countertops and access to backyard. Open layout with hardwood floors and high ceilings. Spacious family room with fireplace. Master bedroom with bath. Beautifully landscaped private backyard.
Sale Price: $819,500
Real Estate Taxes: $26,719
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Featured Listing: 203 Ardsley Road
This extraordinary Cotswold stone and stucco colonial, totally re-built in 2006, is sited on a level and private .72 acre property. The 6,470 square feet of living space includes a spectacular gourmet kitchen, two-room master suite with Jacuzzi bath and a custom elevator. Learn more here.
List Price: $2,499,000
Featured Listing: 19 Innes Road
Elegant and impeccable five-bedroom colonial on tranquil half acre with in-ground Gunite pool with new retractable pool cover. Finely appointed living room and dining room. Renovated kitchen/family room addition with French door to patio and pool, first floor bedroom/bath. Mastersuite with marble bath, large lower level playroom. Exquisitely appointed throughout. Learn more here .
List Price: $1,695,000
Another Big Sale
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Realtors must be pleased with the 2012 season, as houses both big and small, pricey and moderate seem to be selling. This week marked the biggest sale of the year to date. 16 Burgess Road, a six-bedroom, nine-bath home on 1.16 acres in Murray Hill went for $5,300,000. The house is relatively new, built in 1998 by Sunningdale Construction. From the pictures it appears to have a dramatic foyer, elegant rooms, spacious kitchen and lovely pool. Check out the photos here. For those watching the assessments, real estate taxes are shown at $120,200 per year.
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Featured Listing: 5 Brayton Road: 
Situated on a quarter acre property, this charm-filled 1914 Colonial was completely rebuilt in 2003. Six bedroom home highlighted by multiple sets of French doors to porches, four fireplaces, family room, sun room and a recreation room. Appreciate the wonderful details and exquisite updates. Convenient to school and train. List Price: $1,650,000. Learn more here.
Featured Listing: 75 Round Hill Road :
Beautifully renovated and expanded in 2001, this lovely Colonial has a wonderful floor plan with stunning details. Highlights include six gracious bedrooms, fabulous open kitchen with great room, second family room plus a large patio overlooking the lovely half -acre property. Walk to schools, village and train. List Price: $1,339,000. Learn more here.
A Strong Week for Sales in Scarsdale
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Here are home sales for this week in Scarsdale:
9 Sundale Place: Exquisitely appointed and beautifully renovated 1994 Colonial on sought after tree lined cul de sac. Lushly landscaped private 3/4 + acre with pool and charming tree house. Classic layout with wonderful living and entertaining space and state of the art conveniences. Four fireplaces, graciously proportioned rooms, each one a gem. Edgemont Schools.
Sale Price: $3,100,000
Real Estate Taxes: $60,354
268 Fox Meadow Road: Amenities abound from 9 foot ceilings, beautiful Wainscotting, deep moldings, hardwood floors, stunning gourmet kitchen with limestone and granite counter tops, Family Room with wood burning fireplace, cozy library, elegant dining room and living room. Master suite with spa-like bath, , his & hers walk in closets. Four more bedrooms. Lower level features home theater, plus space for entertaining or relaxing. Professionally landscaped.
Sale Price: $2,450,000
Real Estate Taxes: $44,239
15 Secor Road: New construction: 6 BR/ 4.5 BTH stone and shingle, 5,500 square foot center hall Colonial. Now ready. Close to schools, playground, shops and transportation. Nine foot ceilings on first and second floors. Includes library, family room with fireplace, luxury kitchen, breakfast room with doors to large deck and a laundry room near the back stairs. Five gbedrooms on second floor with lots of closet space. Grand master suite with two walk-in closets and luxury bath. Finished lower level with media room, playroom, maids room and bath.
Sale Price $2,420,000
Real Estate Taxes: To come
8 Leatherstocking: Totally updated modern home on landscaped .48 acres w/2 tiered deck overlooking pool. Features: New professional kitchen, 4.5 updated baths, replaced windows, Entry hall with vaulted ceilng, quality built-ins. Wonderful light-filled space for entertaining inside and out.
Sale Price: $1,490,000
Real Estate Taxes: $29,548
123 Brewster Road: This four bedroom three and a half bath Center Hall Colonial has great curb appeal needs some interior TLC. Located in the desirable Greenacres neighborhood in Scarsdale you can walk to the Hartsdale train station, shops, restaurants and the Greenacres Elementary School
Sale Price: $889,000
Real Estate Taxes: $23,507
45 Graham Road: Stone Tudor in Heathcote: Living room with stone fireplace, formal dining room, kitchen and sunroom with sliders to backyard. Lovely, tree-lined property. Central air on 2nd floor. Great curb appeal.
Sale Price: $760,000
Real Estate Taxes: $17,227
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Featured Listing: 41 Murray Hill
Sited in Scarsdale's premier Murray Hill, this extraordinary custom-built Contemporary estate is a masterpiece of steel, stucco and copper, inspired by designs of Frank Lloyd Wright. Completely renovated, boasting 6,200 square feet, five bedrooms, soaring ceilings, walls of windows, heated pool, pond and golf course views. Learn more here:
List Price: $3,389,000
Featured Listing: 42 Round Hill Road
Magnificent Colonial built in 2006 offering 8,200 square feet of gracious living space with an elevator to all floors, .65 acre property with room for a pool, ten-foot ceilings and exquisite appointments. Highlights include gourmet kitchen with adjacent family room and three-room master suite with fireplace. Learn more here:
List Price: $3,350,000
The Market Heats Up
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The market for Scarsdale real estateis heating up. Whether it’s low interest rates or a tough admissions season for New York City private schools, buyers are flocking here to begin an early spring selling season. According to Elise Flagg, Associate Broker at Houlihan Lawrence, “The real estate market has seen phenomenal activity since January. Showings are higher than they have been in months. Buyers seem to be back and are responding to well-priced properties. In recent weeks there have been multiple bids on quite a few homes, a positive sign for buyers and sellers.”
Another historic home to go down? The Committee for Historic Preservation released their agenda for March 20, 2012 and it shows that 3 Sherbrooke Road, built in 1902 on 4.85 acres in Heathcote will be considered for demolition. Village records show that the 7,000 square foot home also has a pool and a tennis court. The house is directly across the street from the house on the Duck Pond that met a similar fate last year. Currently a large new house is going up on Duck Pond Road to replace the original house. (Pictured above: 3 Sherbrooke Road)
Check out these recent sales, with many in Edgemont:
4 Scarsdale Farms Road: Delightful Edgemont Colonial filled with sunlight. Set on a spectacular .49 acres, this home has been impeccably updated and maintained. Beautiful New Country French kitchen with granite counters, Thermador stove and oven, Sub Zero fridge, Bosch dishwasher family room, new Trex deck, windows, slate patio. Lower level media and play room. Ownership in private pool association.
Sale Price: $1,400,000
Real estate taxes: $37,262
145 Old Army Road: The best of both worlds...the charm and character of yesteryear but all the comfort and amenities of today's modern living. Almost an acre of land with pool and separate guest house; walk to Scarsdale village and train station as well as to the grade school, middle and senior H.S. Almost 5,000 square feet of living space on this property with 3,400 square feet in the main house excluding the finished basement. This house has been completely renovated and meticulously maintained.
Sale Price: $1,375,000
Real Estate Taxes: $37,227
390 Fort Hill Road: Beautiful, move-in condition colonial on 1/2 acre. Two-story entry with living room on right and dining room on left. Family room with fireplace, adjacent to large eat-in kitchen. First floor powder room. Second floor master bedroom suite, three bedrooms and hall bath. The 2004 addition added a jack and jill bath and a large bedroom or den.
Sale Price: $1,225,000
Real estate taxes: $43,747
7 Clubway Lane, Hartsdale: Enjoy breathtaking golf course views from this most secluded and unique location in Edgemont. This 6 Bedroom Tudor is located on a private cul-de-sac with .35 acre in a country like setting. Charm abounds in every room with leaded glass French doors, dinning room, breakfast nook, hardwood floors, dressing room, tiled porch with timbered ceiling and elegantly renovated bathrooms. Located in the award winning Edgemont school district and walk to metro north and shopping.
Sale Price: $1,095,000
Real Estate Taxes: $23,571
30 Lynwood Road: This Edgemont Tudor is only a short walk from the train, charming Scarsdale Village and award-winning schools. Features include a formal living room with fireplace, enclosed sunroom, formal dining room, eat-in kitchen, three bedrooms and two full baths. Walk-up attic offers potential for bedroom, study, or family room. Updated windows and move in condition.
Sale Price: $587,000
Real Estate Taxes: $18,052
Scarsdale:
33 Meadow Road: New Construction. Stone and shingle Colonial to be built. 5 Bedrooms, 5.1 Baths, 2 fireplaces on large level landscaped property with potential pool site, flagstone patio, 3-car garage. Spacious rooms with details throughout, nine foot ceilings. Builder can customize.
Sale Price: $2,750,000
Real Estate Taxes: TBD
104 Carthage Road: Built by one of Scarsdale's top builders. Details abound, 
Brazilian cherry wide plank floors, Coffered ceilings, all wood true divided light windows, huge walk up attic with 10' plus ceilings and so much more.
Sale Price: $2,650,000
Real estate taxes: $50,624
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Featured Listing: 5 Oxford Lane:
Bright open modern home situated on a cul de sac in Edgemont, nestled on more than 1/2 acre of private
gardens, lawn and patio space that backs to Sunningdale Golf Club. Great space includes a dropped living room with a fireplace, large family room with built ins, a fireplace and sliding glass doors to the patio, gorgeous 5 year old kitchen tastefully done with stainless appliances and granite counters, large breakfast area, and fabulous adjoining mudroom/laundry room with pantry space and closet. Second floor has large master suite with views of the property, a walk in closet, 2 additional closets and an updated bathroom with "jacuzzi" and shower. There are 3 additional bedrooms with generous proportions and closets. The full basement includes a large playroom. media room/ family room, a full bathroom and another finished room which can have a variety of uses. List Price: $999,999. Learn more here:
Featured Listing: 5 Rocky Hollow Drive, Larchmont
Spectacular, gracious, sun-drenched Center Hall colonial on 1.27 private acres with pool. 8 bedrooms 
and 6.1 baths. High ceilings, hardwood floors, 2 story entry hall, circular staircase, beautiful moldings, music system, 4-zone heat and central air. Professional cook's kitchen with 2 subzeros, center island, granite countertops. Fabulous floor plan. Excellent storage including many cedar closets, Light and open. Master suite with luxurious bath and walk in closets. List Price: $4,500,000. Learn more here:
