42 MASTERTON ROAD BRONXVILLE, NY
Bronxville's #1 Brokerage 2022 ANNUAL REAL ESTATE REPORT IN WITH THE BEST
Happy New Year!
The 2022 Bronxville real estate market was characterized by a shortage of inventory which continued to be a challenge for buyers but a boon to sellers as the robust demand kept prices aloft in our market. By mid-year, economic uncertainty surrounding inflation, the influx of rate hikes and volatility in the financial markets, combined with buyer fatigue resulted in a significant slowdown in market activity. Nonetheless, Bronxville’s unique appeal continues to attract buyers. Our proximity to NYC saw renewed relevancy with the call from many Manhattan businesses requiring employees to return to the office at least a few days a week, if not full time.
As we begin this new year, inventory stands at record level lows, but the buyer demand remains incredibly strong. We do not anticipate the supply issue to change significantly in the foreseeable future as the low-rate mortgages held by many homeowners are holding them back from selling. But there is evidence that buyers and sellers alike are slowly accepting the “new normal”. Buyers have reevaluated their search parameters to accommodate affordability at the new rates while sellers are acknowledging the need to adjust their expectations and setting more realistic sale prices.
At Houlihan Lawrence, our agents are embracing 2023 with renewed optimism and focus. Our strength as a team comes from our collaborative approach and respect for one another’s experience and expertise. The real estate market certainly had its fair share of headline making news in 2022, but in many respects the national news is not reflective of our market. As the market leader in Bronxville and communities North of NYC, Houlihan Lawrence is uniquely positioned to provide hyper-local insight. Now, more than ever, our agents should be called upon to interpret the headlines and provide best-in class data-driven information.
You can confidently trust your real estate needs with the #1 Brokerage in Bronxville. Let's navigate the market together this year.
Wishing you all a happy and healthy 2023!
Sincerely, Victoria
HOULIHAN LAWRENCE BRONXVILLE BROKERAGE
Village Single Family Detached home sales were up slightly with 60 units closing in 2022. There were some significant differences in 2022 vs. 2021 regarding the price points. Bronxville had 22 sales in the $2.5-$3m range, an increase of almost 70% vs. the prior year. Sales over $3M were up almost 31%. This speaks strongly to the continued buyer demand keeping prices high and reinforced the difference between our market compared to the national headlines of dramatic price declines. We ended 2022 with record low inventory; only 4 listings were on the market down 64% compared to the end of 2021, a year that had seen a steep drop in past inventory levels. This continued low inventory is supporting an elevated median sale price which at year end was $2.7M, an increase of 14.5% from 2021.
Village Townhouse sales increased 56% with 14 units sold versus 9 in 2021. The median sale price of $1.3M was 12% higher than the year before. The average price per square foot increased 12% to $777 vs. $694 in 2021.
Village Cooperatives continue to be a popular option for buyers in Bronxville. Sales increased almost 17% with 42 units sold in 2022 and it is worth noting that comes on top of a steep increase the year prior. The $700K-$1M price range was the most active with 15 sales, an increase of 67% over 2021.
Bronxville PO/Yonkers sales were not as robust in 2022 and decreased 21% from 2021. The good news is that the median sale price saw a slight increase and ended the year at $880K. The most notable difference was in the activity in the under $1M threshold. With only 33 sales versus 51 that represented a decrease of 35% versus 2021. Conversely, there was a 14% increase in the number of properties sold over $1M. The average price per square foot increased by 8% to $418.
Bronxville PO/Tuckahoe sales were flat versus 2021 with 34 homes sold. The median sale price rose 6.5% to $985K, reflective of the 31% increase in sales over $1M. The average price per square foot increased 15% to $434.
The Fleetwood area of Mount Vernon (10552) sales declined 4.5% with 85 homes sold but the median sale price increased 8.3% to $720K versus $665k in 2021. As opposed to neighboring markets, the inventory levels here are more robust and ended 2022 with an almost 30% increase in available properties and in contract. The average price per square foot rose 6% to $322.
2022 AT A GLANCE
Bronxville School District
SINGLE FAMILY HOMES
Sold: 60 | +1.7%
Median Sale Price: $2.720M | +14.5%
Average P/SF: $725 | +12%
Average DOM: 52 | -12%
COOPS
Sold: 42 | +16.7%
Median Sale Price: $610K -2.4%
Average P/SF: $489 -2.6%
Average DOM: 80 | -10%
Bronxville P.O./Yonkers School District
SINGLE FAMILY HOMES
Sold: 57 | -20.8%
Median Sale Price: $880K | +1.2%
Average P/SF: $418 | +8%
Average DOM: 31 | -34%
Source:. OKMLS, 1/1/2022-12/31/2022 vs. 1/1/21-12/31/21, Single Family homes detached, Cooperatives, Bronxville School District. OKMLS, 1/1/2022-12/31/2022 vs 1/1/21-12/31/21, Single Family homes detached Bronxville PO/Yonkers.
Dear
Neighbors,
Source – OKMLS, 1/1/2022-12/31/2022, total dollar volume single family homes sold, by office, Bronxville P.O. HOULIHAN LAWRENCE #2 #3 #4 #5
$248 million
BRONXVILLE’S LEADING BROKERAGE IN TOTAL VOLUME
The Numbers Speak for Themselves
2022 TOTAL VOLUME SOLD • SINGLE FAMILY HOMES • BRONXVILLE P.O.
Source: OKMLS 2013- 2022, Single Family homes detached, Bronxville School District. 10 Year Market Hi stor y NUMBER OF HOMES SOLD MEDIAN SALES PRIC E 0 $500,000 $1,000,000 $1,500,00 0 $2,000,000 $2,500,000 $3,000,000 0 10 20 30 40 50 60 70 80 90 100 110 12 0 130 Homes Sold Full Year 60 58 45 42 49 $2,009,500 $2,190,000 $2,455,000 $2,605,000 $2,350,000 UNIT S SO LD MEDIAN P RIC E 2014 2015 2016 2017 2018 2019 2013 60 58 45 42 2% 6% 9% 10% 2% 22% 7% 3% 49 17% $2,009,500 $2,190,000 $2,455,000 $2,605,00 0 $2,350,000 12% 2020 39 11% 20% $2,100,00 0 $2,100,000 39 AVERAGE PRICE/SF $622 $621 $685 $670 $670 $649 57 7% 46% $1,950,000 $59 0 $1,950,000 57 $2,375,000 62 62 20% 9% $2,337,500 $58 1 59 5% 2% $2,375,00 0 2021 59 $2,337,500 $646 11% 2% 2% 9% 3% 10% 2% 10% $2,720,000 2022 60 2% 15% $2,720,000 $725 11% 60 10 YEAR MARKET HISTORY BRONXVILLE SCHOOL DISTRICT MARKET OVERVIEW $1M - $2M $2M - $3M $3M - $5M $5M+ 2022 - 60 Sales 2021- 59 Sales Source: OKMLS, 1.1.21-12.31.21 vs. 1.1.22-12.31.22, single-family homes-detached, Bronxville School District. SOLD BY PRICE POINT <$1M SINGLE FAMILY HOMES – DETACHED 4 FORDAL ROAD, BRONXVILLE $7,750,000 44 MASTERTON ROAD, BRONXVILLE $5,250,000 LISTED & SOLD BY HOULIHAN LAWRENCE BRONXVILLE SCHOOL DISTRICT 15% 50% 28% 3% 2% 44% 22% 3% 29% 3%
4 VALLEY ROAD BRONXVILLE, NY 10708 914.337.0400 A SELECTION OF ACTIVE LISTINGS SINGLE FAMILY HOMES CO-OPS & CONDOS ONE OF A KIND! WEB# BB3006192 Bronxville | $6,450,000 IMMACULATELY BUILT WEB# BB3006432 Bronxville PO/Yonkers | $3,750,000 WELL RENOVATED TUDOR WEB# BB3039102 Bronxville | $2,875,000 A SPECIAL TUDOR WEB# BB3028892 Bronxville | $2,595,000 VILLA BXV WEB# BB3054412 Bronxville | $3,250,000 VILLA BXV WEB# BB3053422 | Bronxville | $2,595,000 CEDAR KNOLLS TUDOR WEB# BB3057412 Bronxville | $999,000 GEORGE ROOT COLONIAL WEB# BB3044082 Bronxville | $2,925,000 PRE-WAR APARTMENT WEB# BB3011882 Bronxville | $795,000 STANDISH-CABOT WEB# BB3056572 Bronxville | $450,000
ADDITIONAL HOMES SOLD IN 2022 BY HOULIHAN LAWRENCE BRONXVILLE
Village.
BRONXVILLE PO/YONKERS
784 Palmer Road #3A 7 Sunnybrook Road #3B 832 Palmer Road #3C 60 Rockledge Road 143 Dellwood Road 949 Palmer Road #2E 57 Rossmore Avenue 3 Brooklands #5H 50 Highland Circle 24 Gard Avenue 76 Dellwood Road 900 Palmer Road #4D 901 Palmer Road #9A 32 Wiltshire Street 1348 Midland Avenue #4N 49 Desmond Avenue 900 Palmer Road #8C 3 Hampshire Circle 280 Bronxville Road #2X 6 Brooklands #4A 35 Parkview Avenue #3F 21 Beechmont Avenue 949 Palmer Road #1B 259 Pondfield Road W. 56 Pondfield Road W #3C 860 Palmer Road #3D 2 Dellwood Road 48 Wellyn Road 62 Boulder Trail 14 Devon Road 250 Bronxville Road #6G 65 Durham Road #1F 1100 Kimball Avenue 40 Wellyn Road 270 Bronxville Road #B71 1348 Midland Avenue #2N 8 Brooklands #1A 60 Pondfield Road W 42 W. Pondfield Road #5E 2 Bronxville Road #5H 2 Essex Place 250 Bronxville Road #6E 1 Georgia Avenue #4H 1015 Kimball Avenue 811 Palmer Road #2F 35 Parkview Avenue #6G
TUCKAHOE P.O.
50 Columbus Avenue #306 100 Main Street #PH3 141 Main Street #A 54 Manhattan Avenue 243 Pennsylvania Avenue
74 Fisher Avenue 101 Chittenden Avenue 50 Columbus Avenue #316 1 Scarsdale Road #416 1 Scarsdale Road #206 392 Read Avenue 100 Main Street #2E
MOUNT VERNON
84 Parkway East 32 Harding Parkway 58 Parkway West 636 N. Terrace Avenue #1H 45 Alta Drive 37 Alameda Place 31 Ridgeway Street 90 Brookfield Road 44 Parkway West 90 Central Parkway 80 William Street #2G 25 La Porte Avenue 30 Ehrbar Avenue #119 176 Douglas Place 590 E. Third Street #1F 590 E. Third Street #2F 4 Park Lane #4F 590 E. Third Street #2C
YONKERS
717 Tuckahoe Road #9D 16 Pocono Avenue 863 Palisade #1E 94 Lincoln Avenue 33 Crestwood Avenue 82 Fennimore Avenue 14 Harvard Avenue 85 Carpenter Avenue
BRONXVILLE P.O./ TUCKAHOE 34 Central Drive 2 Lockwood Avenue #2D 12 Chester Place 22 Oregon Avenue #A 125 Park Avenue
ARDSLEY 18 Taft Lane 106 Crestview Place
BRONXVILLE PO/ MOUNT VERNON 11 Leggett Road 19 Alden Place #1
13 Alden Place #2B
BRONX 1855 Grand Concourse #46 1855 Grand Concourse #56 1855 Grand Concourse #47 340 E. Mosholu Parkway S #2E 2685 Creston Avenue #2A 2685 Creston Avenue #4C 1855 Grand Concourse #63 1298 College Avenue 601 Pelham Parkway N. #409 2685 Creston Avenue #1L 2962 Decatur Avenue #5J 2685 Creston Avenue #5C 2962 Decatur Avenue #1J 55 E 190 Street #57 1855 Grand Concourse #7 601 Pelham Parkway N #411 2685 Creston Avenue #3D 3201 Grand Concourse #5D 2685 Creston Avenue #4D 2244 Bronx Park E #5L 601 Pelham Parkway N #509 2962 Decatur Avenue #2B 2685 Creston Avenue #5M
EASTCHESTER/ EASTCHESTER P.O. 4 Wendover Road 206 Park Avenue 551 White Plans Road 202 Beech Street
HARRISON 49 Post Place
HARTSDALE 80 E Hartsdale Avenue #409 68 E Hartsdale Avenue #4F
HASTINGS-ON-HUDSON 10 Old Jackson Avenue #31 10 Old Jackson Avenue #61 36 Oakcrest Lane 40 Oakcrest Lane
HIGHLAND FALLS 54 Putnam Street KATONAH 4 Tall Trees Court
LARCHMONT
14 N. Chatsworth Avenue #1H 14 N. Chatsworth Avenue #614
MOUNT KISCO 3 West Street
NEW ROCHELLE 250 Broadfield Road 43 Calton Road #2F 49 Pinebrook Road
OSSINING 4 Nord Circle PEEKSKILL 8 Winchester Avenue
RYE 4 Hidden Spring Lane 15 Ann Lane
SCARSDALE
1 Christie Place #305E 187 Garth Road #4A 24 Castle Walk 187 Garth Road #2C 21 Argyle Road 240 Garth Road #4D2 260 Garth Road #5C4 253 Garth Road #4D 289 Boulevard 16 Hadden Road 188 Garth Road #5U 260 Garth Road #5J5 235 Garth Road #DF5 983 Post Road
TARRYTOWN 26 Embree Street 25 Wyldwood Drive
THORNWOOD 103 Bainbridge Avenue
WHITE PLAINS 10 Pebble Beach Lane 20 Perry Avenue
4 VALLEY ROAD BRONXVILLE, NY 10708 914.337.0400
We’re more than just the
Source: OKMLS 2013-2022, Single Family homes detached, Bronxville P.O./Yonkers School Dist. 10 Year Market Hi stor y NUMBER OF HOMES SOLD MEDIAN SALES PRIC E 0 $200,000 $400,000 $600,000 $800,000 $1,000,000 0 10 20 30 40 50 60 70 80 90 100 110 12 0 130 Homes Sold Full Year 55 63 57 52 59 59 UNIT S SO LD MEDIAN P RIC E 55 63 57 52 1% 2% 10% 1% 49% 10% 9% 15% 59 13% $729,000 $805,000 $803,500 $816,750 $826,250 59 7% 10% $765,000 53 $313 $335 $307 $331 $347 $356 53 7% 23% $710,00 0 $328 70 10% 70 71% $728,00 0 $354 72 AVERAGE PRICE/SF 72 3% 11% $869,750 $387 1% -8% 8% 7% 5% 3% -8% 7% 9% $729,000 $805,000 $803,500 $816,750 $826,250 $765,000 $710,000 $728,000 $869,750 2014 2015 2016 2017 2018 2019 2013 2020 2021 2022 57 21% 1% $880,00 0 $418 ?% $880,000 57 10 YEAR MARKET HISTORY 2022 - 57 Sales 2021 - 72 Sales Source: OKMLS, 1.1.21-12.31.21 vs. 1.1.22-12.31.22, single-family homes-detached, Bronxville P.O./Yonkers School District SOLD BY PRICE POINT BRONXVILLE P.O./YONKERS MARKET OVERVIEW SINGLE FAMILY HOMES 21 BEECHMONT AVENUE, BRONXVILLE $2,149,000 50 HIGHLAND CIRCLE, BRONXVILLE $1,695,000 LISTED, SOLD, OR BOTH BY HOULIHAN LAWRENCE BRONXVILLE P.O./YONKERS 58% 37% 5% $1M - $2M $2M - $3M $3M - $5M $5M+ <$1M 71% 26% 1% 1%
914.337.0400 · HOULIHANLAWRENCE.COM LIST WITH CONFIDENCE. PUT THE POWER OF #1 TO WORK FOR YOU. CONNECTING MORE BUYERS AND SELLERS THAN ANY OTHER BROKERAGE BROKERAGE IN BRONXVILLE Source: OKMLS, 1/1/22-12/31/22, total dollar volume of single family homes sold by company, Bronxville school district VICTORIA BULKLEY Branch Manager Associate Real Estate Broker BARBARA ANN ADAMSON Real Estate Salesperson MIRJANA BALAC Real Estate Salesperson LOUISE BAUDOIN Associate Real Estate Broker BRUCE BENNETT Associate Real Estate Broker TONI BESSONE Real Estate Salesperson ELIZABETH (BETH) CAMPBELL Real Estate Salesperson ROSE CARMELLINO Associate Real Estate Broker MARGARITA CAROZZA Real Estate Salesperson MARIELLEN SULLIVAN CARPENTER Associate Real Estate Broker ANGELA CERRATO Real Estate Salesperson KATHLEEN COLLINS Associate Real Estate Broker ALEX COLLINS Real Estate Salesperson LESLIE ANN CORCORAN Real Estate Salesperson ANDREW T. DIORIO Real Estate Salesperson MARGARET FARRAN Real Estate Salesperson SUSAN FRENCH Associate Real Estate Broker SARAH FRENCH Associate Real Estate Broker HELEN GERKEN Associate Real Estate Broker ASHLEY GRAMINS Real Estate Salesperson PETER A HARRIS Associate Real Estate Broker CAROLINE JONES Real Estate Salesperson LYNN JOYCE Associate Real Estate Broker DARIA KELTY Real Estate Salesperson KATHRYN KEMPTON Real Estate Salesperson BARBARA KERRIGAN Associate Real Estate Broker ANDREW KORB Real Estate Salesperson JACK ANDREW KORB Real Estate Salesperson CYNTHIA LANDIS Associate Real Estate Broker SUSAN KELTY LAW Associate Real Estate Broker JINXIANG LU Real Estate Salesperson SASKIA B MARTIN Real Estate Salesperson ELAINE MCKENNA Real Estate Salesperson MEGAN MCSHERRY Real Estate Salesperson CAROL MOESEL Associate Real Estate Broker PRISCILLA NEWMAN Real Estate Salesperson MARY KAREN O'SHAUGHNESSY Associate Real Estate Broker VALERIE OTTO Real Estate Salesperson LAURA CATHERINE REDICAN Associate Real Estate Broker FREDERICK ROMLEY Associate Real Estate Broker PETER SEGALLA Associate Real Estate Broker ANN MARIE SULLIVAN Real Estate Salesperson JANE E. VERGARI Associate Real Estate Broker MARIA WEIN DEVANEY Real Estate Salesperson
Associate Real Estate Broker
Real Estate Salesperson
MARY CLAIRE WHITE
CHRISTOPHER YACHOUH
