Westchester’s Top 3 Housing Styles

 

 

While working with plenty of buyers and sellers in the Westchester County area, we have compiled a list of what we believe is Westchester County residents top three favorite housing styles and their descriptions. Curb appeal is huge when you are selling your home, and in our opinion these three styles are some of our buyers favorite homes!

3. Cape Cods

 

 

 

cape cod-2

 

Typically consisting of one and half stories, Cape Cods have dormered ceilings on the second level and were adopted from Britain’s single family housing style that were ultimately built to create mid priced homes. They stand out due to their prominent dormered second level and windows on the second story. Typically they are not oversized, so generally they fall into an affordable and cute style for many first time home buyers.

 

2. Tudors

Tudor

 

Another adoption of an English style home which is known for prominent gabled roofs that have a sharp pitch and the interiors are known for timber support beams. The exterior is a mixture of this timber and classical brick. These homes in England were considered ones of prominence and are known to be able to withstand several different climates, which is why they are really popular along the east coast. Many neighborhoods within Westchester can be seen flooded with Tudors, especially Crestwood section of Yonkers or Fleetwood Mount Vernon.

  1. Colonials

 

351marbledalerd-2

 

Westchester Counties favorite style home is no doubt the center hall colonial. The original American style home which began being built as early as the 1600’s by our first settlers in America. Colonial homes are known for their perfect symmetry, with evenly spaced out windows, a center hall staircase leading to the upper level, and perfectly rectangular dimensions of the floor plan and exterior walls.

 

Feel free to comment below on your favorite home style!

 

As always, if you are thinking about buying or selling Real Estate in Westchester County, give us a call today!

 

Frank Morris

Licensed Real Estate Salesperson

71 Pondfield Road

Bronxville NY 10708

O: 914-337-1312

C: 914-500-9194

 

Pet Friendly Housing, The Buyers Dilemma

Do you have any pets?

The one question that Real Estate asks and most in the industry fear the answer for any buyer who is looking for a co-op, condo, or rental apartment.

But Why?

Although the pet policies in the State of New York have changed dramatically since the mid 20th century, when in almost all cases no pets were allowed in rental buildings, it is still very difficult for pet owners to find rental apartment or to purchase co-op’s and condo’s in New York City along with surrounding suburbs like Westchester.

Nonetheless, many buildings in recent years have amended their pet policies to allow pets restricted by weight or breed. Many buildings have also begun to recognize the therapeutic value of having a pet and have allowed homeowners and/or renters to bring pets into the building as emotional support animals.

Even with all these changes, it is not easy for those who are searching in the New York City or Westchester County area to find housing if they are pet owners. Lets just put it this way, their are currently about 800 co-op apartments for sale in the entire county of Westchester, 100 of which accept pets! Therefore their about 100 co-ops on the market that will accept a pet currently, that makes it very tough to be a buyer in our current market!

Cats are wee bit easier to get into buildings, as most people keep their cats indoors so many buildings are not troubled by Cats, dogs are unfortunately a greater hurdle, and this is where in fact many co-op and condo’s have house rules restricting the weight of these animals and in many cases restrict against non aggressive breeds such as pit bulls, Rottweiler’s, and Dobermans.

Difficult but not impossible, and many buildings as stated earlier are changing their policies to conform with owners that have emotional support animals and are modernizing their policies. Do not be too discouraged, their is hope and there is plenty of great buildings that allow pets, you just have to be diligent and ready to jump on them when they reach the market.

Frank Morris

Licensed Real Estate Salesperson

71 Pondfield Road

Bronxville NY 10708

 

 

Town Of Eastchester Market Data

The first quarter of 2017 has ended and the market statistics are in!

 

Here is the most recent single family data in the Town of Eastchester specified by village and their respective School Districts (Eastchester, Tuckahoe, and Bronxville). For comparison we will be looking at March 2016 numbers in each of the School Districts. All of the data will be followed by a summary of what each School District is reflecting and what the trends tell us.

Eastchester School District:

MARCH 2016 AVERAGE SALES PRICE: 722,500

 

MARCH 2017 AVERAGE SALES PRICE: 807,783

INCREASE OF 11.8%

 

HOMES FOR SALE MARCH 2016: 32

HOMES FOR SALES MARCH 2017: 32

 

PRICE PER SQUARE FOOT 2016: $367

PRICE PER SQUARE FOOT 2017: $404

REFLECTS A 10.1% INCREASE

 

DAYS ON MARKET 2016: 75

DAYS ON MARKET 2017: 85

 

MONTHS SUPPLY 2016: 3.1

MONTHS SUPPLY 2017: 3.5

LP/SP 2016: 98.4%

LP/SP 2017: 97%

 

The Eastchester School District is the best performer of the three School districts when we compare it to last year. We see about an 12% increase in the average sales price in the market, while the exact same amount of inventory for sale is on the market. We also see an increase in the price per square foot up about 10% since last year. A slight increase in the supply of inventory from 3.5% (This means that at the current rate of sale, all inventory will be sold in about 3.5 months). The average list price to sales price has decreased to about 97%, meaning sellers are getting on average about 97% of what they are asking for. We can attribute this to the sellers and brokers tendency to price aggressively while the prices are trending upward and supply is low. The amount of inventory has increased slightly but we still see a lack of inventory for sale and a lot of activity in the average price range (about 800k) for Single Family in the Eastchester School District.

 

 

 

TUCKAHOE SCHOOL DISTRICT

MARCH 2016 AVERAGE SALES PRICE: 1,115,369

 

MARCH 2017 AVERAGE SALES PRICE: 773,156

DECREASE OF 30.7%

 

HOMES FOR SALE MARCH 2016: 21

HOMES FOR SALES MARCH 2017: 18

 

PRICE PER SQUARE FOOT 2016: $366

PRICE PER SQUARE FOOT 2017: $314 REFLECTS ABOUT A 14.2% DECREASE

 

DAYS ON MARKET 2016: 82

DAYS ON MARKET 2017: 97

 

MONTHS SUPPLY 2016: 5.3

MONTHS SUPPLY 2017: 5.2

LP/SP 2016: 93.1%

LP/SP 2017: 95.1%

The Tuckahoe School District shows some interesting data when compared to March of last year. It must be taken into consideration that the Tuckahoe School District encompasses a small amount of homes and can be influenced greatly by sales in their luxury markets, such as Bronxville Manor situated alongside of the Siwanoy Country Club. This is why we notice such a drastic decrease in the average sales price from about 1.1 million to 773,156. We notice a slight drop in the inventory for sale there. Along with a slight drop in the price per square foot. The days on market has increased, again most likely due to aggressive pricing due to the market trending upwards. The list price to sales price average has increased to sellers getting about 95% of what they are asking, most likely due to minimal luxury sales this year which is also reflected in the average sales price.

 

BRONXVILLE SCHOOL DISTRICT

 

MARCH 2016 AVERAGE SALES PRICE: 2,007,222

 

MARCH 2017 AVERAGE SALES PRICE: 1,541,488-

 REFLECTS A 23.2% DECREASE

HOMES FOR SALE MARCH 2016: 36

 

HOMES FOR SALES MARCH 2017: 47

 

 

PRICE PER SQUARE FOOT 2016: $367

PRICE PER SQUARE FOOT 2017: $404

REFLECTS A 10.1% INCREASE

 

DAYS ON MARKET 2016: 122

DAYS ON MARKET 2017: 82

DECREASE 29.5%

 

MONTHS SUPPLY 2016: 6.8

MONTHS SUPPLY 2017: 10.2

INCREASE 50%

LP/SP 2016: 93.5%

LP/SP 2017: 96.8%

 

Bronxville School District is the slowest performer of the three school districts, which is not a surprise as we have seen a lag in recent years in the luxury sector. We have seen a 23% drop in the average sales price, not surprising as the very high end homes at the top of the market have had little movement. We have also seen an increase in the amount of inventory on the market, making Bronxville generally a buyers market with 10.2 months supply of inventory on the market, with the exception of the homes in the market place that are priced around 2 million and below. Sellers on average are obtaining more than they were this time last year at 96.8% of the listing price, this we can attribute to brokers and sellers gaining a good education of where they need to be on pricing to actually sell their home over the last couple of years.

Building Smart Homes

Manufacturers, along with the help of builders and brand new homeowners, have developed several innovative products to design what is referred to as “smart homes”. You can now connect virtually every appliance in your home to a smartphone or tablet.

One of the very first innovations was smart thermostats, in which users could connect their thermostats to their networks and control the heating and air conditioning using their mobile device or smart device. Apple lead the way for many of these devices, starting with the nest smart home thermostat system. Honeywell has also designed comparable products. Now, homeowners can connect virtually anything that is powered by electricity to their network from their lighting system, their refrigerators, and all the way to their home theatre’s.

All electronics are coded for different functions, down to turning off the light in your closet, these functions are becoming a network of operations that can be controlled through smart devices and the use of radio waves. These radio waves can signal functions to each and every device that is connected to the network.

 

Some of the products that consumers are equipping their homes with are cameras throughout the entire house and around the perimeter. Smart security systems that connect to all windows and doors, and can notify homeowners as to whether or not their doors were left ajar or windows are open. These smart systems can also connect to your lighting system, which can be great in saving money on the electrical bill. They can connect to your coffee maker, and can notify you of a fire alarm. Your smart home can even connect with the plumbing within your home to keep you from leaving faucets open.

 

This may be the new horizon of a different style of home, the smart home. For people who are not particularly tech-savvy, a smart home is perhaps not the best choice. Though as people become more accustomed to smart phones and tablets, the integration into smart home technology can seemingly be huge in the years to come.

 

Frank Morris

Licensed Real Estate Salesperson

71 Pondfield Road

Bronxville NY 10708

Blog at WordPress.com.

Up ↑