Westchester County New York Real Estate Blog

Market Information Scarsdale, New York 10583

The 10583 zip code in Westchester County is the zip code for Scarsdale, New York.  There are two Post Offices for this zip code, one in the Village of Scarsdale and another on Central Avenue which is an Annex.  This zip code covers the Town/Village of Scarsdale and then there is the Scarsdale PO as it is known which covers areas in New Rochelle, Greenburgh, White Plains.  There are several school districts where the address of a property can be in Scarsdale but the property is not in the Scarsdale School District but could be in the New Rochelle, White Plains, Ardsley, Greenburgh or Edgemont districts.

These statistics cover all of the propeties with a Scarsdale mailing address (Town/Village or Post Office):

Single Family Homes for Sale Active as of November 1, 2009:   211 this includes 29 which are in Conditional Contract which are considered active until contingencies are met.

Single Family Homes Pending (all contingencies met) as of November 1, 2009:  23

Single Family Homes Sold in November, 2009:  10

In past years the number of solds in November of each year:

             10 Sold in November 2009

             12 Sold in November 2008

             33 Sold in November 2007

             27 Sold In November 2006

             25 Sold In November 2005

             30 Sold in November 2004

The number of days on the market for the houses sold in November was 157 and there is a 22 month back up of inventory.  These numbers indicate that this zip code is still a very strong buyers market.  

Market Stats

	Miriam Bernstein's Real-time Real Estate Market Profile
	How's the Real Estate Market in YOUR area? All the market trend charts on this page are 'live'. Bookmark this page to watch the market change each week. Want more details? Subscribe to myReal-Time Market Report. It's all about what's going on right now and it's free!
	ARDSLEY Real Estate Market (10502) Median Price Subscribe to my ARDSLEY Market Intelligencereport for weekly neighborhood trends. Average Days on Market Subscribe now to learn dozens of ARDSLEY real estate trends and other important market measures! Inventory Subscribe to my ARDSLEY Market Intelligencereport for weekly neighborhood trends. Median Price Per Sqft Subscribe now to learn dozens of ARDSLEY real estate trends and other important market measures! CHAPPAQUA Real Estate Market (10514) Median Price Subscribe to my CHAPPAQUA Market Intelligencereport for weekly neighborhood trends. Average Days on Market Subscribe now to learn dozens of CHAPPAQUA real estate trends and other important market measures! Inventory Subscribe to my CHAPPAQUA Market Intelligencereport for weekly neighborhood trends. Median Price Per Sqft Subscribe now to learn dozens of CHAPPAQUA real estate trends and other important market measures! HARTSDALE Real Estate Market (10530) Median Price Subscribe to my HARTSDALE Market Intelligencereport for weekly neighborhood trends. Average Days on Market Subscribe now to learn dozens of HARTSDALE real estate trends and other important market measures! Inventory Subscribe to my HARTSDALE Market Intelligencereport for weekly neighborhood trends. Median Price Per Sqft Subscribe now to learn dozens of HARTSDALE real estate trends and other important market measures! SCARSDALE Real Estate Market (10583) Median Price Subscribe to my SCARSDALE Market Intelligencereport for weekly neighborhood trends. Average Days on Market Subscribe now to learn dozens of SCARSDALE real estate trends and other important market measures! Inventory Subscribe to my SCARSDALE Market Intelligencereport for weekly neighborhood trends. Median Price Per Sqft Subscribe now to learn dozens of SCARSDALE real estate trends and other important market measures!

Westchester MLS 3rd Quarter Market Report

From the Westchester Putnam Multiple Listing Service, the 3rd Quarter 2009 market report:

Third quarter single family median2 sales prices, $630,000 in Westchester and $330,000 in Putnam, were below last year’s levels by 11% and 12% respectively, constituting a modest recovery from the second quarter when median prices were running 16% and 19% below last year’s levels. Most of the price decrease since the start of the recession has been attributable to across-the-board market depreciation from lack of demand but part of it also results from a pronounced fall-off in high-end sales. 

In 2008 and earlier, million-dollar-plus sales accounted for as much as 25% or more of all transactions. That percentage abruptly fell to 13% in the first quarter of 2009; it increased to 17% in the second quarter and to 20% in the third quarter but still falls short of its former high levels.

The condominium and cooperative sectors fared better as to prices. The $362,000 median sale price of a Westchester condominium was 8.6% less than last year’s. The co-op median of $170,500 was 9.2% lower than last year’s. The median sale price of Multi-family (2-4 unit) houses was $399,500, retaking its place from condominiums in the second quarter as the second most expensive housing type in Westchester.

The report's analysis:

On a nine-month basis, Westchester County’s sales volume of 3,975 units was 24.1% less than in 2008, and a hurtful 43.3% less than in 2007. The second and especially the third quarter results, however, are trending to a steady improvement in sales volumes. Further, there is a slight suggestion in the data that overall prices are at or close to bottom, and that the high-end segment of the market is inching its way back to a larger market share though probably not its former prominence. These factors, together with the restrained local inventory, suggest that there exists pent-up demand to complement pent up desire to sell – a real estate market in the remaking if only the larger economic environment would cooperate.

The rest of the report, SR3rd09_Final.pdf

Market Statistics, Westchester County

	How's the Real Estate Market in YOUR area? All the market trend charts on this page are 'live'. Bookmark this page to watch the market change each week. Want more details? Subscribe to my Real-Time Market Report. It's all about what's going on right now and it's free!
	ARDSLEY Real Estate Market (10502) Median Price Subscribe to my ARDSLEY Market Intelligence report for weekly neighborhood trends. Average Days on Market Subscribe now to learn dozens of ARDSLEY real estate trends and other important market measures! CHAPPAQUA Real Estate Market (10514) Median Price Subscribe to my CHAPPAQUA Market Intelligence report for weekly neighborhood trends. Average Days on Market Subscribe now to learn dozens of CHAPPAQUA real estate trends and other important market measures! DOBBS FERRY Real Estate Market (10522) Median Price Subscribe to my DOBBS FERRY Market Intelligence report for weekly neighborhood trends. Average Days on Market Subscribe now to learn dozens of DOBBS FERRY real estate trends and other important market measures! HARTSDALE Real Estate Market (10530) Median Price Subscribe to my HARTSDALE Market Intelligence report for weekly neighborhood trends. Average Days on Market Subscribe now to learn dozens of HARTSDALE real estate trends and other important market measures! IRVINGTON Real Estate Market (10533) Median Price Subscribe to my IRVINGTON Market Intelligence report for weekly neighborhood trends. Average Days on Market Subscribe now to learn dozens of IRVINGTON real estate trends and other important market measures! LARCHMONT Real Estate Market (10538) Median Price Subscribe to my LARCHMONT Market Intelligence report for weekly neighborhood trends. Average Days on Market Subscribe now to learn dozens of LARCHMONT real estate trends and other important market measures! LARCHMONT Real Estate Market (City-Wide) Median Price Subscribe to my LARCHMONT Market Intelligence report for weekly neighborhood trends. Average Days on Market Subscribe now to learn dozens of LARCHMONT real estate trends and other important market measures! MAMARONECK Real Estate Market (10543) Median Price Subscribe to my MAMARONECK Market Intelligence report for weekly neighborhood trends. Average Days on Market Subscribe now to learn dozens of MAMARONECK real estate trends and other important market measures! SCARSDALE Real Estate Market (10583) Median Price Subscribe to my SCARSDALE Market Intelligence report for weekly neighborhood trends. Average Days on Market Subscribe now to learn dozens of SCARSDALE real estate trends and other important market measures! WHITE PLAINS Real Estate Market (10607) Median Price Subscribe to my WHITE PLAINS Market Intelligence report for weekly neighborhood trends. Average Days on Market Subscribe now to learn dozens of WHITE PLAINS real estate trends and other important market measures!

How's the Market in Hartsdale, New York 10530?

 

Active

60 Active Single Family Homes
Average Price $657,601
Median Price  $599,000

Average Days on the Market 142

Sold

23 Sold Single Family Homes in the past 6 months
Average Sold Price $587,304
Median Sold Price  $559,000

Average Days on the Market 140  

Market Statistics, Communities Around Westchester County

Irvington;       Ardsley

Croton on Hudson ;    Dobbs Ferry

 

Armonk;   Chappaqua

If It's Happening in the Hamptons, So Goes Surburan New York

                                            This article from the New York Times is about "the Hamptons" however, it could be any area that is a playground for Wall Street money.  It could be Westchester County which is directly north of New York City.  It could be Greenwich, CT.   From the New York Times:

''A blue real estate broker’s sign is planted at the foot of the driveway: the house is up for sale for the fourth time in eight years. Its churning transaction history tells the tale of a dizzying decade. In 2001, it sold for $460,000; two years later, it went for $850,000; and in 2006, after a substantial renovation, it turned over again, fetching $1.65 million

Then came the dreary series of events that we can summarize, as Hamptons people do, by reciting a litany of names: Bear Stearns; Fannie and Freddie; Lehman; Madoff. Since the peak, as one horrific episode after another has unfolded, the area’s real estate market has mirrored Wall Street’s plunging fortunes. Average sale prices have declined by about 10 percent, but that only hints at the seriousness of the trouble, because hardly anything is moving. According to data collected by the Suffolk Research Service, a local real estate data company, the number of sales in 2008 fell by 25 percent in East Hampton, 39 percent in Bridgehampton, 45 percent in Southampton and 47 percent in Montauk.

To read the whole story of what is happening out in the Hamptons, here.

Today's Version of the Economic Stimulus Bill

The Economic Stimulus Bill (The American Recovery and Reinvestment Act of 2009, H.R. 1)

Although details are still not available on a number of provisions, H.R. 1, the “American Recovery and Reinvestment Act of 2009,” is reported to include the following provisions:

• Homebuyer Tax Credit – a $7500 tax credit that will be available for qualified purchase of a principal residence by a first time homebuyer between January 1, 2009 and September 1, 2009. The credit does not require repayment. Individuals who purchase in 2009 using financing assistance from state and local mortgage bonds will be permitted to use the credit, as well.
• FHA, Fannie and Freddie Loan Limits – Revised loan limits for FHA, Freddie Mac, and Fannie Mae. Specifics have not been released but reports indicate that the 2008 limits have been reinstated for 2009 except in those communities where the 2009 limits are higher. Additional increases in individual communities may also be available at the discretion of the HUD Secretary.
• Foreclosure Mitigation & Neighborhood Stabilization – Funding for states and local communities to be used for neighborhood stabilization activities for the redevelopment of abandoned and foreclosed homes are authorized.
• Rural Housing Service - Increased funding for the Rural Housing Service direct and guaranteed loan programs.
• Low Income Housing Grants - Allows states to trade in a portion of their 2009 low-income housing tax credits for Treasury grants to finance the construction or acquisition and rehabilitation of low income housing, including those with or without tax credit allocations. 
• Tax Exempt Housing Bonds - Tax-exempt interest earned on specified state and local bonds issued during 2009 and 2010 will not be subject to the Alternative Minimum Tax (AMT). In addition, financial institutions will have greater capacity to purchase tax-exempt state and local bonds.
• Energy Efficient Housing - Grants for energy retrofits for federally assisted housing (section 8),funding for Energy Efficiency & Conservation Block Grants to states, and Increases in the residential tax credit through 2010 for certain energy efficient upgrades.
• Transportation - Spending for upgrades and repairs of road, bridges and transit facilities.
• Broadband Deployment – Grants to make broadband available in unserved communities

"Copyright National Association of REALTORS®, Reprinted from REALTOR.org with permission."
i) Content from NAR’s online magazine, REALTOR® Magazine Online, shall be subject to the terms of the REALTOR® Magazine reprint policy.
ii) Content from NAR’s Letter of the Law newsletter shall be subject to the terms of the Letter Of The Law reprint policy.

Top Five Myths

According to Barbara Corcoran the top five myths in real estate right now are:

1.  Myth #1 If a house has been on the market for a really long time - it will be a good deal.  This is not necessarily so.  The most important thing to know is the reason the owner is selling.  The seller could be unmotivated and selling because they want a larger house.

2.  Myth #2 That you can time the market.  Trying to buy "at the bottom of the market" is virtually impossible.  By the time you realize thatit is the bottom you have missed it and prices are coming back up.

3. Myth #3 That you must have 20% to buy a house.  This is also not so, with FHA mortgages you only need 3.5% and even with mortgage insurance at 1.5% that is 5%.

4. Myth #4 That this is the worst time to sell.  Maybe, depends on where you live. Some markets are turning around.

5. Myth #5 You need to shop your mortgage on a refinance.  Try going to the bank that is holding your mortgage now, you will save a bundle on closing costs.

Visit msnbc.com for Breaking News, World News, and News about the Economy

Men Are From Mars, Women Are From Venus

Men and women approach buying houses very differently.  The last house  I sold in Hartsdale my buyer only wanted one thing, a large walk in closet.  Here is a short, very funny video that shows the differences between men and women in a nutshell.  Thank you J. Philip Feranda.

Hartsdale, New York 10530 Market Stats - Single Family

Croton on Hudson, New York Market Stats

I lived in Croton on Hudson for several years.  Wonderful, affordable Huson River community in northern Westchester County.  Lot's of water front activities. A sailing school. Great schools.

Village of Croton on Hudson, New York Website, here.

Hartsdale, New York Market Snapshot, January 10, 09

Market Reports, Westchester County, New York

I am now providing Market Reports for certain communities in Westchester County, New York.  You can receive weekly updates on what is happening in your community, or you can choose monthly updates, your choice.  If you decide to sign up your email address will not be used for any other purpose, nor will you be contacted.  If you have questions  you are welcome to contact me.  If the community you are interested in is not listed,  let me know and I will provide it to you.  Please note as well that relying on these reports entirely is a mistake.  These reports are meant to each a general overview, but each individual property should be looked at independently.

 

For Less Than 1000 Lattes/Day

You can sponsor an executive.  Perhaps the head of GM! The bail out, the bonuses, the idiosy.