A Stellar Start to 2014
- Real Estate
- Published on Thursday, 20 February 2014 15:22
- Joanne Wallenstein
No, we weren't imagining it. There have been an extraordinary number of home sales in the first weeks of 2014 as compared to this time in 2013. According to Lewis Arlt of Houlihan Lawrence, at this time in 2013 nine single family homes had passed title, compared to 26 homes this year. That's a 188% increase in sales. Many of the transactions passing title this year were booked in 2013, but the actual closings spilled into 2014.
Active listings are virtually the same as last year (91 in 2013 as compared to 89 this year), but there's a drop in the number of pending deals from 47 last year to 37 this year, which correlates to the jump in closings year to date.
Demand is currently high for active listings in all price ranges (when comparing active listings to those in contract), except the high end, where there are 26 active listings priced above $3M with only three in contract. Only one property valued at over $3 mm has closed so far this year, the same as 2013.
So despite unhelpful weather, motivated buyers and sellers are finding ways to make deals. With buyer demand strong, and new listings continuing to come on the market Arlt anticipates a brisk market.
Only one this week – but it's a big one....
73 North Chase Road: New construction: 5,820 square foot house on just a under a quarter of an acre in Scarsdale Village. Center hall Colonial features chef kitchen, large master suite, fireplace in both living room and family room. Nine foot high ceilings, custom craftsmanship and moldings.. Third floor can be finished.
Sale Price: $2,880,000
Real Estate Taxes: TBD