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Wednesday, Apr 26th

Last updateWed, 26 Apr 2017 5pm

You are here: Home Real Estate Which Scarsdale Neighborhoods Command the Highest Prices?
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Which Scarsdale Neighborhoods Command the Highest Prices?

Home-Price-Per-Square-FootHow does the price per square foot vary among homes sold in Scarsdale's five elementary school districts? Which neighborhood commands the highest price per square foot, and which the lowest? We received data from the sale of 102 homes in Scarsdale between October 1, 2016 and March 31, 2017 and below is a chart showing the variation in the average and median price per square foot of homes in Scarsdale's five areas.

Of course, there are many factors that contribute to these variations: for example, how many new homes were sold in each area which could raise the overall per square foot or other factors such as the size of the lot, real estate taxes, proximity to the school or to busy roads.

However, even if we're unable to fully explain the forces behind the numbers, they speak for themselves:

HomeSalesApril17

At least for the past six months, Fox Meadow comes out on top, following by Heathcote – with Edgewood right behind it when measuring the average price per square foot.

Commenting on the data, a grandfather who lives in Scarsdale and whose daughter grew up here and has been house hunting for the past two years said, "Parents with small children are understandably worried about sending their children to Greenacres School at the same time that the building it is being torn down and rebuilt. And the School Board's indecisiveness has let this uncertainty linger for a long time. Although the actual construction process would only take a year or two, nobody knows when in the next five to ten years this is actually likely to occur. So anybody with children who are still infants, or as far along as third or fourth grade, have reason to be concerned."

Sales:

17KingstonRoad17 Kingston Road:
Renovated 6 bedroom, 4.1 bath Tudor on level, beautiful grounds. Step up to the front door, with its beautiful stained glass, into the entry hall with archway moldings and gorgeous wood staircase. Spacious living room with fireplace, sun room, gourmet eat-in kitchen with granite counter tops and 6 burner stove and a formal dining room. Family room with cathedral ceiling. Central A/C, 2-car garage plus private yard and patio backing on the Red Maple nature area.

Sale Price: $1,675,000
Assessed Value: $1,425,000

Real Estate Taxes: $36,093

67NorthChaseRoad67 North Chase Road:
Opportunity in Fox Meadow! Create your own private Idaho within the most sought after Scarsdale location and experience true suburban living with the ultimate urban conveniences with fabulous restaurants, shops, Metro North and schools, all within a quick paced minute. Property being sold "AS IS," and offers a fabulous, spacious layout and needs your special TLC!

Sale Price: $1,230,000
Assessed Value: $1,275,000

Real Estate Taxes: $32,843

303 Boulevard303 Boulevard:
Four bedroom center hall Colonial reimagined for today's modern living. Luxurious details include front porch, Brazilian Cherry hardwood floors, wood burning fireplace and gourmet kitchen with Wolf stove, Bosch dishwasher and so much more. A large deck runs the length of the back of home providing a private, beautiful vista for a summer BBQ, soaking in the sun or listening to birds chirp. The romantic master bedroom has a gas fireplace and sliding glass doors to a balcony. The master bath has a skylight, Jacuzzi tub, walk-in shower and the marble floor has radiant heat. Close to elementary school, playground and Davis Park.

Sale Price: $1,203,500
Assessed Value: $850,000
Real Estate Taxes: $21,037

32DorisLane32 Doris Lane: Mamaroneck:
Great corner property....0.39 acres....bring your contractor....rehab this house or built new.....choose your schools....Scarsdale or Mamaroneck...

Sale Price: $700,000
Real Estate Taxes: $34,510

Edgemont:

175UnderhillRoad175 Underhill Road:
Lovely center hall Colonial on a park-like acre on a picture perfect lane with two other houses. This renovated 1935 home is 3,505 interior square feet. Great for entertaining. Amazing layout plus renovated kitchen/family room, large formal dining room and large living room. Six bedrooms with four-½ bathrooms (two-½ renovated bathrooms); includes a backstairs to a guest room/bathroom. Also a mudroom/laundry on the first floor. Three-zone central air, whole house generator, heated pool, covered patio, two exterior storage sheds.

Sale Price: $1,485,000
Real Estate Taxes: $39,865

24OvertonRoad24 Overton Road:
Chic and classic Center Hall Colonial, set on a gorgeous .41 acres in sought after Edgemont. The first level of this home features high ceilings and spacious rooms, including a bright and large living room, sunroom/study, formal dining room for gracious entertaining, updated eat-in kitchen, expansive family room with a vaulted ceiling and beautiful view, full bath, fabulous deck, perfect for outdoor dining and one car garage. The second level boasts four bedrooms and two updated full bathrooms. The third level includes bonus space with two walk-in closets and a renovated full bath. The yard is deep and wide with stunning trees and stonewalls, plus a lovely view over Scarsdale village. Old world style, light-filled interiors, modern upgrades and amazing location on a tranquil, tree-lined street.

Sale Price: $1,410,000
Real Estate Taxes: $34,218

Featured Listings:

27 MurrayHillRoad27 Murray Hill Road Scarsdale
Magnificent "Way beyond Green" new construction by Healthy Home Builders. Located in the Heathcote Estate section of Scarsdale, this stunning 9,022 square foot Georgian Colonial, with exquisite stone exterior and circular drive, incorporates classic architectural details with the most advanced, non-toxic building materials. Sophisticated indoor air and water purification and filtration systems. This thoughtfully designed residence is not only grand and luxurious, but is also engineered with state of the art systems for healthy and energy HoulihanLawrence2017conscious living. Thirty minutes to NYC via Metro North. Learn more here: Houlihan Lawrence Office: 914-723-8877.

List Price: $6,950,000

64 Cushman64 Cushman Road, Scarsdale
Step into this stunning and timeless English Tudor in the heart of the coveted Murray Hill estates and be amazed by its splendor and beauty. Set on over an acre of private, park-like property. Listing Agents: Heather Harrison 917.299.7490 and Jennifer Jaffe 917.922.4789. Learn more here:platinumdrive175

List Price: $3,358,000

11GrandPark11 Grand Park Avenue, Scarsdale
Perfectly grand.....even the address! Welcome to 11 Grand Park Avenue, Scarsdale. Circular driveway to impressive 6,000 square foot Colonial with wrap-around gazebo porch and attached 3-car garage. 2-story foyer has sweeping staircase. 10 foot HoulihanLawrence2017ceilings on first floor. The large and elegant kitchen has 2 sinks and 2 dishwashers. Learn more here: Houlihan Lawrence Office: 914-723-8877

List Price: $2,925,000

25 MorrisLane25 Morris Lane, Scarsdale
This exceptional Scarsdale colonial is the perfect blend of elegance, beauty and location. Set on 0.80 acre of spectacular park like property in the heart of the prestigious Murray Hill estates, this captivating home features a large circular driveway and beautiful pool surrounded gorgeous landscaping. Listing Agents: Zachary Harrison platinumdrive175917.299.7832 and Heather Harrison 917.299.7490. Learn more here:

List Price: $2,699,000

3 Edgewood Road 640x4273 Edgewood Road, Scarsdale

Attractive storybook Tudor with modern layout ready to be customized by second-generation local builder. This home will project a perfect blend of old world charm with all the modern interior finishes and ideal layout including huge open kitchen that flows into a breakfast area and family room with French doors to platinumdrive175covered blue stone porch. Listing Agent: Heather Harrison 914.299.7490. Learn more here:

List Price: $1,999,000

14 Reynal Crossing14 Reynal Crossing, Scarsdale

This beautifully maintained Scarsdale colonial is located on a quiet street with a serene private backyard. The large eat-in kitchen has stainless steel appliances including a 6 burner Viking stove and granite countertops. There is a playroom/den off of the kitchen, which boasts lots of natural light. Listing Agent: Tracey Lipton 917.751.4146. Learn more here:platinumdrive175

List Price: $1,549,000

Open Houses:

1110PostRoad1110 Post Road, Scarsdale
Open House Saturday 4/15 12:00 --3:00 PM

Pristine, completely renovated/remodeled 4 bedroom 4.5 bath home with great indoor/outdoor flow for entertaining. Living room with wood burning fireplace, large formal dining room, large family room with fireplace and cathedral ceiling, eat-in kitchen with huge island, butler's pantry and wine cooler. Learn more here: Houlihan Lawrence Office: 914-723-8877.HoulihanLawrence2017

List Price: $1,268,800

16VermontAvenue16 Vermont Avenue White Plains
Open House Sunday 4/16 1:00 -3:00 PM

Iconic renovated Prospect Park Victorian with sweeping front lawn and wrap around porch. On .87 park-like, level acre of level, this warm and inviting home is a perfect blend of period finishes and modern conveniences. 9' ceilings and decorative detail throughout. Gorgeous staircase. Endless possibilities! Learn more here: Houlihan Lawrence Office: 914-723-8877HoulihanLawrence2017


List Price: $1,149,000

11 Cider Mill Circle11 Cider Mill Circle, Armonk
Open House Saturday April 15 :00 – 4:00 PM

Relax in carefree elegant style in this 4 bedroom town home located in the gated community of Cider Mill. This freshly painted sunny end unit is appointed with the finest finishes, including Christopher Peacock custom kitchen cabinetry, Waterworks fixtures, hardwood floors, and detailed crown and wainscot moldings. The gourmet kitchen has a 6-burner Wolf stainless steel gas range with hood and the adjoining den has a gas fireplace, custom built-ins and a door leading to a slate patio. The first floor home office is fully equipped with a built-in desk and bookcases. The oversized master bedroom suite boasts a gas fireplace, balcony, marble bath and a custom walk in closet. The lower level has a family room with a built-in wet bar and entertainment center as well as a bedroom and an additional recreation area. Additional features include: formal dining room, custom closets, high ceilings, raveislogosound system, French doors, recessed lighting, updated baths. Learn more here:

List Price: $1,149,000

Comments   

+4 #7 Lily Huang 2017-04-16 07:39
It is ironic that those who fear that the construction of a new school in greenacres would negatively affect their property values are indeed driving the price down by opposing the new construction. I can tell you first hand that people are intentionally avoiding greenacres. The very first advice I got when we were house hunting from a friend living in Scarsdale is not to buy in greenacres.
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+5 #6 Robert J 2017-04-14 08:34
Young families are choosing not to move to Greenacres. Realtors are reporting that client after client are telling them to take Greenacres of their list. Normally Greenacres is very popular due to its proximity to the train but the possibility of a mass renovation with children in the building is keeping young families away. Houses are sitting on the market longer and selling for less.
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+7 #5 Bob 2017-04-13 23:20
I echo everything said by Kristen. From a statistical perspective, the conclusion would be that the prices across all 5 areas of the town are roughly same. These variations are too small to be meaningful with such a small sample size.

BUT, there's another, larger flaw underlying this analysis: is price per sq. ft. really the right metric to use? It is often the case in real estate that smaller homes have a higher price per sq. ft. Particularly in areas where land values are so high, as they are around here, the incremental cost to add another 1000-2000 sq ft onto a new house bring the price/foot way down.

If you want to do this right, get multiple years of data and stratify the houses by price or size and then compare prices within each group. Don't compare a 1500 sq. ft. home to an 8000 sq. ft one.
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+8 #4 Bill D. 2017-04-13 09:29
Who cares what the numbers are? Buy the house you like the best and can afford.
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+17 #3 Kristen 2017-04-12 23:02
The numbers actually don't speak for themselves at all.

First of all, the sample size is too small to allow for meaningful comparisons between neighborhoods. You would have to roll up three or four years' worth of data to have those neighborhood numbers tell you anything reliable. Second, the range is fairly small; just $50 separates the median high and the median low. Third, you haven't controlled for any of the many factors that affect the price of a house; the whole price difference could be explained by any of the factors you mention (new construction, lot size, proximity to school) or by other factors you haven't considered. And fourth, you completely put your thumb on the scale by offering a 100 percent speculative tidbit by local grandpa-in-the- street about the cause of this non-phenomenon. This analysis is faulty and misleading.
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-13 #2 Joanne Wallenstein 2017-04-12 21:47
As the article says, it would be pure conjecture to draw conclusions about these numbers. There are many theories as to why they are what they are. If you have theories to explain the value of one neighborhood over another please share them and include your first and last names.
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+10 #1 Jill D. 2017-04-12 20:45
What does this sentence mean? " even if we're unable to fully explain the forces behind the numbers, they speak for themselves" What is the point of showing data by neighbor if no explanation is given for the differences?
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