349 PON DFIELD ROAD, B RONX VILLE
Bronxville Brokerage 2 0 1 8 A N N U A L R E A L E S TAT E R E P O R T
Dear Neighbors, Wishing all of you a happy and healthy 2019! 2018 marked 10 years since the 2008 Financial Crisis. Some of the changes in buyer behavior that we see today continue to be a reaction to that event. Today’s buyers are cautious, having watched or experienced the real estate realignment of 2008/9. They tend to underspend their budget, “just in case” or to prepare for “a
Houlihan Lawrence is the Market Leader 2018 Market Share
rainy day”. Additionally, millennials consume data of all sorts, using it for analysis and decision making rather than relying on their hearts and hunches. Technology, as applied to real estate data, has also been a boon for potential buyers. In short, a more cautious and informed generation of homebuyers has emerged. Other characteristics of today’s buyers are a desire to focus on a move-in ready home and one that is close to transportation. Convenience and condition rule. Bearing this in mind, steps to achieving liquidity in real estate are thinking like a buyer and behaving accordingly. Stage your home to appeal to buyers: fresh paint (and color schemes), fewer things, and refreshing your home’s look. Pricing your home correctly is also of the highest importance. Compare your home to similar homes both in the Village and in other local areas to make certain that you are competitive; keep in mind that changes to the Federal tax code make Westchester taxes less deductible than in the past. Accept that markets move, get ahead of a trend. And above all, use a professional for advice so that you don’t get dragged down in the details.
Bronxville School District S I N G L E F A M I LY H O M E S
76
%
TO W N H O U S E S
89
%
C O O P E R AT I V E S
Highlights of 2018: The Village Townhouse market was the big winner in 2018. Sales (although still few) improved by 50%, from 6 to 9 units and the price per square foot rose 10% from $609 to $668. The median also climbed from $1,052,500 to $1,250,000, +19%.
49
%*
The Coop Market also performed well. Sales were off by 7% (really only 3 fewer closings: 38 v. 41) but median rose to $595,000 from $535,000, an 11% increase. Price per square foot rose to $461 from $451.
Bronxville P.O/Yonkers
Single Family Detached home sales stalled for part of the year, and the
S I N G L E F A M I LY H O M E S
statistics show it. Unit sales declined to 39 transactions from 50, down 22%. The median price was $2,100,000 a decline of 11% from $2,350,000. Price per square foot dropped slightly, by 3%, to $649. The positive news is that 2018 ended with several homes going into contract in the last month of the year. In summary, the statistics seem to bear out the idea that buyers are very conservative in choosing their new residence, and sellers must woo them. Nonetheless, Bronxville is a community that is often imitated, but never duplicated. The charm, the school, the proximity to New York City and the convenient, yet sophisticated, lifestyle have nearly universal appeal. We will keep you up to date as 2019’s trends develop. Warmly,
36
%*
Bronxville P.O/Tuckahoe S I N G L E F A M I LY H O M E S
29
%*
CYNTHIA LANDIS
Bronxville Brokerage Manager Associate Real Estate Broker O 914.337.5400 Ext. 11344 CLandis@houlihanlawrence.com
*Number 1 office ranked in dollar volume. Source: HGMLS, 1/1/18-12/31/18, total dollar volume sold Single Family homes detached, Bronxville School District, by office. HGMLS, 1/1/18-12/31/18, total dollar volume sold single family homes attached, Bronxville School District, by office. HGMLS, 1/1/18-12/31/18, total dollar volume sold Cooperatives, Bronxville School District, by office. HGMLS, 1/1/18-12/31/18, total dollar volume sold Single Family homes, Bronxville PO/Yonkers, by office. HGMLS, 1/1/18-12/31/18, total dollar volume sold Single Family homes, Bronxville PO/Tuckahoe, by office.
10 Year School MarketDistrict History Bronxville Market Overview S I N G L E F A M I LY H O M E S – D E TA C H E D
Homes Sold Full Year
1 0 Y E A R M A R K E T H I S TO RY $3,000,000 $2,455,000 $2,150,000
$2,100,000 $1,900,000
$2,000,000
120 $2,350,000
110
$2,190,000 $1,975,000
$2,100,000
$2,009,500
100
NUMBER OF HOMES SOLD
AV E R A G E S A L E S P R I C E
$2,500,000
130 $2,605,000
90 80
61
59
$1,500,000
60
70
58
$1,000,000
60
50
42
45
39
39
40 30
21
$500,000
50
20 10
0
UNITS SOLD
MEDIAN PRICE
PRICE/SQ FT
0
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
21
59
39
61
60
58
45
42
50
39
181%
40%
$2,150,000
6%
34%
$1,900,000
$2,100,000
12%
$571
11%
$563
$554
56%
$1,975,000
6%
$562
2%
$2,009,500
2%
3%
22%
$2,190,000
$622
9%
$2,455,000
12%
$621
7%
$2,605,000
$685
6%
$670
22%
19%
$2,350,000
10%
$2,100,000
11%
$670
$649
Source: HGMLS 2009-2018, Single Family homes detached, Bronxville School District.
SOLD BY PRICE POINT
<$1M
41%
2018 - 39 Sales 2017 - 50 Sales
2%
20%
$2M - $3M
$3M - $4M
38%
32 %
0%
$1M - $2M
40% 40%
10 % 16%
60%
$4M+
10 % 10 %
80%
100%
Source: HGMLS, 1.1.17-12.31.17 vs. 1.1.18-12.31.18, single-family homes-detached, Bronxville School District.
H O M E S L I S T E D, S O L D, O R B O T H B Y H O U L I H A N L A W R E N C E
S I N G L E FA M I LY H O M E S AT TA C H E D & D E TA C H E D
55 Alder Lane
19 Garden Avenue
2 Morningside Circle
50 Prescott Avenue
56 Summit Avenue
9 Beechwood Road
18 Gladwin Place
2 Normandy Road
25 Ridgecroft Road
28 Valley Road
12 Beverly Road
22 Greenfield Avenue
6 Normandy Road
80 Sagamore Road
29 Village
6 Chestnut Avenue
26 Homesdale Road
14 Normandy Road
10 Sherman Avenue
3 Westway
5 Courseview Road
65 Kensington Road
40 Oriole Avenue
1 South Road
1 White Plains Road
9 Crows Nest Road
83 Kensington Road
1 Park Avenue Terrace
7 South Road
159 White Plains
16 Eastway
99 Kensington Road
340 Pondfield Road
15 Sturgis Road
43 Woodland Avenue
3 Fordal Road
4 Leggett Road
356 Pondfield Road
24 Sturgis Road
30 Forest Lane
3 Merestone Terrace
360 Pondfield Road
15 Summit Avenue
C O O P S L I S T E D, S O L D, O R B O T H B Y H O U L I H A N L A W R E N C E
3 Alden Place 3A
8 Midland Gardens 3F
25 Sagamore Road 3G
4 Alden Place 3D
9 Midland Gardens 5D
48 Sagamore Road 24
2 Midland Gardens 1C
1 Northgate 5A
54 Sagamore Road 3F
2 Midland Gardens 3B
100 Parkway 2C
1 Stoneleigh 4L
4 Midland Gardens 1H
100 Parkway 4A
7 Tanglewylde Avenue 2D
4 Midland Gardens 5H
72 Pondfield Road 3H
7 Tanglewylde Avenue 6D
6 Midland Gardens 3F
72 Pondfield Road 6E
1 Westbourne 2A
7 Midland Gardens 3L
72 Pondfield Road 6F
7 Midland Gardens 3O
25 Sagamore Road 2L
BRONXVILLE SCHOOL DISTRICT
3 Alden Place
A Selection of Active Listings C O O P E R AT I V E S , B R O N X V I L L E P.O. / YO N K E R S
1 0 1 5 K I M B A L L AV E N U E Web# BB1515374 | Bronxville P.O./Yonkers | $1,450,000
1 N O R T H G AT E # 4 A Web# BB1507905 | Bronxville | $1,395,000
1 EASTBOURNE #3A Web# BB1513331 | Bronxville | $1,295,000
23 SAGAMORE #4F Web# BB1526462 | Bronxville | $865,000
Bronxville P.O./Yonkers Market Overview 10 Year Market History S I N G L E F A M I LY H O M E S
Homes Sold Full Year
1 0 Y E A R M A R K E T H I S TO RY $1,000,000
130
$800,000
$725,000
$716,000
$731,250
$690,000
$803,500
120
$826,250
$808,500
$770,000
110 100
$682,500
NUMBER OF HOMES SOLD
AV E R A G E S A L E S P R I C E
$802,500
90 80
$600,000
64
57
57
70
59
53
56
40
$400,000 30
50
35
33
60
40 30
$200,000
20 10 0
0
UNITS SOLD
MEDIAN PRICE
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
30
33
35
40
57
64
57
53
59
56
$802,500
$803,500
$808,500
$826,250
$770,000
$331
$347
$356
10%
11%
$725,000
PRICE/SQ FT
2%
$716,000
1%
$318
$321
6%
14%
$690,000
$731,250
4%
6%
$306
$310
43%
$682,500
7%
12%
11%
18%
$313
$335
$307
7%
5%
11%
1%
2%
7%
Source: HGMLS 2009-2018, Single Family homes detached, Bronxville P.O./Yonkers School Dist.
SOLD BY PRICE POINT 2018 - 56 Sales
11%
2017 - 59 Sales
12% 0%
<$500K
37%
$750-999K
11%
7%
41% 40%
20%
60%
80%
Source: HGMLS, 1.1.17-12.31.17 vs. 1.1.18-12.31.18, single-family homes-detached, Bronxville P.O./Yonkers School Dist.
H O M E S L I S T E D, S O L D, O R B O T H B Y H O U L I H A N L A W R E N C E
$1M+
9%
41%
27% 20%
$500-749K
S I N G L E FA M I LY H O M E S
24 Anita Road
103 Chatfield Road
68 AKA 70 Eton
209 Pondfield Road
29 Birch Brook Road
145 Chatfield Road
28 Gard Avenue
133 Pondfield Road
354 Bronxville Road
59 Dellwood Road
42 Gard Avenue
24 Rossmore Avenue
41 Cassilis Avenue
37 Deshon Avenue
5 Hampshire Circle
2 Sussex Place
40 Cedar Lane
123 Ellison Avenue
37 Ledgewood Road
9 Wellyn Road
7 Center Knolls
135 Ellison Avenue
51 Merriam Avenue
2 Wellyn Road
29 Chatfield Road
89 Eton Road
65 Millard Avenue
100%
A Selection of Active Listings S I N G L E F A M I LY H O M E S
8 W O O D L A N D AV E N U E Web# BB1518146 | Bronxville | $5,395,000
1 1 T H E H I G H ROA D Web# BB1458640 | Bronxville | $2,975,000
3 B E EC H WO O D ROA D Web# BB1507208 | Bronxville | $4,695,000
1 1 P L AT E A U C I R C L E Web# BB1452425 | Bronxville | $2,950,000
1 5 H A M I LT O N AV E N U E Web# BB1441787 | Bronxville | $3,675,000
1 2 L A U R E L AV E N U E Web# BB1459787 | Mount Vernon | $1,475,000
* O N T H E C O V E R : 349 Pondfield Road | Web# BB1459123 | Bronxville | $5,495,000
Year after year, we achieve more.
CYNTHIA L ANDIS Brokerage Manager
B A R B A R A A N N A DA M S O N Real Estate Salesperson
LO U I S E B AU D O I N Associate Real Estate Broker
NANCY BEERS-NIX Associate Real Estate Broker
TO N I B E S S O N E Real Estate Salesperson
GENE R. BLENDERMANN Real Estate Salesperson
A N D R E A B R AU N S T E I N Real Estate Salesperson
PAT R I C I A B R E E N Associate Real Estate Broker
E L IZ A B E T H C A M P B E L L Real Estate Salesperson
M A R I E L L E N S U L L I VA N CARPENTER Associate Real Estate Broker
TAT I A N A C A S T RO -TA B OA S Real Estate Salesperson
L E S L I E A N N CO RCO R A N Real Estate Salesperson
KRISTINE DESMAR AIS Real Estate Salesperson
M A RG A R E T FA R R A N Real Estate Salesperson
SAR AH FRENCH Associate Real Estate Broker
SUSAN FRENCH Associate Real Estate Broker
H A P PY F R E N C H -Z I N G A RO Real Estate Salesperson
HELEN GERKEN Associate Real Estate Broker
D I A N E F. H AC K E T T Associate Real Estate Broker
PETER A HARRIS Associate Real Estate Broker
S TAC E Y H U G H E S Associate Real Estate Broker
K E V I N H Y LTO N Associate Real Estate Broker
KIR A DOUGHAN JENNINGS Real Estate Salesperson
LY N N J OYC E Associate Real Estate Broker
DA R I A K E LT Y Real Estate Salesperson
BARBAR A KERRIGAN Associate Real Estate Broker
A N D R E W KO R B Real Estate Salesperson
S U S A N K E LT Y L AW Associate Real Estate Broker
EL AINE MCKENNA Real Estate Salesperson
JA M E S F. M C M A H O N Associate Real Estate Broker
M EG A N M C S H E R RY Real Estate Salesperson
C A RO L M O E S E L Associate Real Estate Broker
E M E L DA M O R R I S S E Y Real Estate Salesperson
M A RY K A R E N O ’ S H AU G H N E S S Y Associate Real Estate Broker
VA L E R I E OT TO Real Estate Salesperson
L E A N N E PA N TO L I A N O Real Estate Salesperson
J I L L I A N R A S U LO Real Estate Salesperson
L AU R A C AT H E R I N E REDICAN Real Estate Salesperson
F R E D E R I C K RO M L E Y Associate Real Estate Broker
P E T E R S EG A L L A Associate Real Estate Broker
GINA SISTI Associate Real Estate Broker
R I TA S T E I N K A M P Associate Real Estate Broker
L AU R A S T I C H T E R- B RYS O N Associate Real Estate Broker
SHEIL A MORRISSEY S TO LT Z Associate Real Estate Broker
A N N M A R I E S U L L I VA N Real Estate Salesperson
D E N N I S J. TO R M E Y Real Estate Salesperson
JA N E E . V E RG A R I Associate Real Estate Broker
T H E R E S E ( T R AC Y ) M A RY WA L S H Real Estate Salesperson
C H R I S T I CO L L I N S W E I L D Real Estate Salesperson
M A R I A W E I N D E VA N E Y Real Estate Salesperson
M A RY C L A I R E W H I T E Associate Real Estate Broker
H U G H JA M E S W H I T E Real Estate Salesperson
E L IZ A B E T H D. Y I E N G E R Real Estate Salesperson
S H A RO N L . Z A N Z A N O Real Estate Salesperson
VA L M A R I E ZO R I L A Associate Real Estate Broker
Not Pictured:
@H O U L I H A N L AW R EN CE
@HOULIHANRE
@H O U L I H A N L AW R EN CE
CO U R T N E Y M CC A R T H Y Real Estate Salesperson
9 1 4 . 3 3 7. 0 4 0 0 · H O U L I H A N L A W R E N C E . C O M
List your home with confidence. WE KNOW WHERE BRONXVILLE BUYERS COME FROM
23 % 23 % 54 %
OF BUYERS ARE LOCAL OR MOVED FROM SURROUNDING COMMUNITIES.
OF BUYERS ARE FROM THE TRI-STATE AREA OR BEYOND
OF BUYERS ARE FROM THE FIVE BOROUGHS OF NEW YORK CITY.
4 VA L L E Y R O A D , B R O N X V I L L E | 9 1 4 . 3 3 7. 0 4 0 0
Source: HGMLS, 1/1/18-9/30/18, Single Family homes, Bronxville School District. Houlihan Lawrence Transactions Database, includes all Houlihan Lawrence buyers and all other buyers of Houlihan Lawrence listings. Percentage may not add up to 100% due to rounding.