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Written by Lori Gertzog

Category: Real Estate

Published: 06 January 2016

How will the market for real estate in Scarsdale perform in 2016? Will a positive economic forecast bring buyers to Scarsdale? Will the market for high-end homes improve? We asked a few local realtors to offer their perspectives, and here is what they shared:

Lewis Arlt of Houlihan Lawrence:

2015 had an 8.7 % drop compared to 2014 in units sold in Scarsdale, and a 3.1% drop in median sale price. We enter 2016 with 93 single-family properties on the market, and 44 in contract. The demand is very strong for homes priced below $3M, and much less demand for homes priced over $3M, where currently there are 49 homes on the market and 5 in contract. We anticipate significant numbers of resale properties entering the market over the next few weeks, with plenty for buyers to choose from in the high end. If history is a guide, properties priced under $2M will find buyers eager to come take a look, which may lead to competitive bidding, and inventory remaining low. Sellers are advised to be realistic about value pricing if their motivation to sell is strong.

Zach Harrison, President of Platinum Drive Realty:

We anticipate a brisk market in the under two million dollar range with stable inventory and high demand. At the high end, we expect steady demand and more conservative pricing levels given the increase in high-end inventory.

Mortgage rates are inching up but so far the increase has been manageable for buyers as they are still historically low.

Millennials are expected to continue to dominate the buying pool in 2016 as the majority of first time homebuyers. Scarsdale has tremendous appeal to these young buyers who are looking for a short commute, excellent schools and all the wonderful things our community has to offer.

Sales:

28 Claremont Road

This tudor is in the heart of Greenacres, with five bedrooms, three bathrooms, and a prime .26 of an acre. The living room has a bay window and French doors to the family room. A new gourmet eat-in kitchen has a center island and granite countertops with high-end appliances and finishes. Another set of French doors lead out to the flagstone patio. The master bedroom has his-and-hers walk-in closets with a master bathroom. There is a bonus room on the third floor. The basement is fully finished with a full bathroom, an office space, and a family room. There are hardwood floors throughout and a flat roof with ice shields and copper flashing. There is a stone patio and terrace, and stone walls with weep holes.

Sale Price: $1,425,000
Taxes: $29,185

239 Rock Creek Lane

This Quaker Ridge four-bedroom ranch has a private and level backyard that backs up to wooded solitude. There are hardwood floors, spacious rooms and an updated kitchen with new cabinets and stainless steel appliances. Also has a two car attached garage with a long driveway that can accommodate at least four cars.

Sale Price: $901,000
Taxes: $25,745

7 Overhill Road

This four bedroom, three and a half bath Tudor has a living room with a fireplace equipped with a wood burning stove.

Sale Price: $867,000
Taxes: $16,134

 
Edgemont:

17 Barclay Road

This home in Old Edgemont has a front entry foyer leading to a living room with wood burning fireplace, sun room, formal dining room, and an eat- in kitchen with separate pantry. The kitchen has easy access to a screened porch. The second floor features three bedrooms and a bath. The third floor has a bedroom, bath and storage. There is also a versatile lower level space.

Sale Price: $830,000
Taxes: $19,114

Featured Listings:

68 Brewster Road, Scarsdale

Location Location Location. This beautiful bright sunny 2009 home is situated in the heart of Fox Meadow, right near everything and only a few minutes' walk to: elementary and high schools, library, shopping and Metro North Train. On .30 of an acre and over 6000 interior square feet, this newer home has it all. Incredible Kitchen/Great Room, professional cooks' appliances, huge center island, wood burning fireplace, additional breakfast room, mud room and walk-in pantry, plus first floor library/office. five bedrooms: Master Suite with sitting room, gas fireplace, three closets and ultimate bathroom, plus four additional bedrooms with three baths. High end finishes throughout plus two laundry rooms (second floor and lower level), elevator for three floors, lower level kitchenette, gym, media room and playroom. Lovely backyard and covered patio. Move right in.  For more information, click here.

List Price: $3,195,000

23 Bradford Road, Scarsdale

Exceptional and enhanced Scarsdale property offers stunning seclusion on .66 acres with the most gorgeous heated pool and overflowing hot tub nestled amid professionally landscaped property accented with dramatic
twilight lighting. Smartly updated and beautifully maintained home offers
5500+ square feet and over 1100 square feet of mahogany decking with blue stone patios encircling the pool. Sun-drenched throughout, this home enjoys oversized rooms including two family rooms, two recreation rooms and open expansive kitchen with sliders to Mahogany deck, exterior stainless steel kitchen, interior/exterior wet-bar opening to the gorgeous Shoreline pool and backyard gardens. All this blends seamlessly with the traditional character and quality of this classic stone and clapboard home located an easy walk to elementary school with bus to middle and high school. An exceptional opportunity for a private oasis in the heart of Scarsdale.  For more information, click here.

List Price: $3,150,000

Open Houses:

10 Morris Lane, Scarsdale
Sunday January 10th, 1:00 - 3:00pm

This majestic estate is located on a premier block in prestigious Murray Hill. Never before on the market, this gracious Center-Hall Colonial is sited on two glorious acres surrounded by lush rolling lawns and exquisite gardens. A fabulous Gunite pool and adjacent tennis court enhance the luxury lifestyle. The house boasts nine foot ceilings, elegant finishes and quality appointments, including hardwood floors, arched doorways and walls of wainscoting creating an aura of grace and elegance. The stunning gourmet kitchen features St. Charles cabinetry, all new stainless steel appliances and a breakfast area that opens to the patio. The floor plan is ideal for convenient everyday living and formal entertaining as the indoor leads seamlessly to the beautiful outdoor spaces. Six bedrooms, five bathrooms and a convenient laundry room complete the second floor.  For more information, click here.

List Price: $4,990,000

6&8 Manor Lane, Scarsdale
Sunday January 10th, 2:00 - 4:00pm

Exceptional brand new construction in the heart of Scarsdale at Heathcote Manor, an enclave of single family homes sharing a private cul-de-sac in Heathcote. Each home boasts spacious rooms, clean lined design and light-filled interiors. Enter by way of an impressive foyer and entertain graciously in the formal living and dining rooms. Enjoy the perfect layout for family living with an expansive open plan kitchen/breakfast area/family room with gas fireplace and French doors to a yard and patio, ideal for outdoor dining. A powder room and spacious study (or 5th bedroom) complete the first floor. The second floor features a stunning master bedroom with gas fireplace, luxurious master bath and two walk-in closets, three more bedrooms, two full baths and a study/computer area. The lower level contains an enormous recreation room, media room/gym, large laundry room, full bath and two car garage. Elevator optional. Near schools, shops and bus. Can customize. Don't miss these gems.  For more information, click here.

List Price: $1,798,000

Details

Written by Lori Gertzog

Category: Real Estate

Published: 13 January 2016

How did home sales in Scarsdale's five elementary school neighborhoods fare in 2015? Jason Wilson of Julia B. Fee Sotheby's compiled this chart of home sales, comparing the five areas over the past seven years.

The results are interesting and open to interpretation. Here are a few observations:

Total home sales for all of Scarsdale decreased from 253 in 2014 to 231 in 2015. However, when you consider this number in terms of the seven year period, it's relatively high. In 2009, only 160 homes sold and this number climbed as the economy improved.

Edgewood saw the biggest increase in home sales this year – climbing from 35 sales in 2014 to 53 in 2015, a 51.4% increase. Could this be due to an increase in inventory as developers subdivided plots and built additional homes? The median sale price remained steady with just a 1.1% increase to $915,000.

Both Greenacres and Fox Meadow experienced a decrease in the number of sales, with Fox Meadow down 36.2% and Greenacres declining by 38.3%. These numbers are difficult to interpret. In Fox Meadow, this could be due to the inventory having a higher percentage of homes priced above $3 million. Since the revaluation, the market saw a decrease in the sale of high-end homes overall. In Greenacres, perhaps uncertainty about the fate of the elementary school could have affected sales.

In Heathcote, the number of sales was almost on par with 2014 but the average price jumped from $1.9 mm to $2.2 mm and the median price went up by $400,000. One conjecture is that there was an increase in new home sales in 2015, and a commensurate increase in prices.

Do you have theories to account for this data? Comment in the section below or email us at scarsdalecomments@gmail.com and we will post your replies.

In other news, we continued to ask realtors around town for their predictions for the 2016 market. Here's what we received from Lisa Theiss at William Raveis who recently opened their first Scarsdale office:

"2016 looks to show continued strength in the local housing market.
At the tail of 2015, we saw the first slight increase in interest rates. Agents, lenders and homebuyers have all been watching the market for an uptick in rates. Now that we have seen the Feds increase rates, we anticipate that buyers will be more motivated to buy earlier in the year and lock in their rates. We believe that this, along with low inventory of homes priced under $3million will create a strong Spring market creating demand and multiple offers."

Sales:

2 Thies Court

This post-modern colonial, built in 2004, offers customized detailing and 5,285 square feet with five bedrooms, four full baths and two powder rooms. In addition, there is approximately 1,417 square feet of finished space in the lower level with a playroom, au pair bedroom/bath, summer kitchen, media/movie room, powder room and exercise area. The grand two-story entry hall features a sweeping staircase with a wrought-iron railing. High ceilings, large openings and over-sized windows showcase the property and outdoor patio. There is a chef's kitchen with a center island. The house sits on landscaped property with a three-car garage, gas heat, 5-zone HVAC, built-in sound, and NEST app-controlled thermostats.

Sale Price: $2,275,000
Taxes: $61,765

4 Ridgecrest East

This Greenacres stone and stucco Tudor has many updates, including three new full baths and two new powder rooms, an updated cook's kitchen, new finished walk out from the lower level family room with a built-in fridge and California closets, custom designed fireplace with marble surround, new wood deck with stone columns, slate patio off the lower family room, a new boiler and a new hot water heater, central air conditioning, professionally landscaping with Norwegian Spruce, Japanese Maple and Cherry trees, a slate walkway and driveway with stone pavers and Belgian block.

Sale Price: $1,250,000
Taxes: $20,734

310 Boulevard

This two bedroom Cape Cod style home is situated on a private, tree lined half acre property which is open and level.

Sale Price: $540,000
Taxes: $18,067

Edgemont:

23 Wyndham Road
This Tudor has three bedrooms, 2.5 baths and a cathedral ceiling in the living room with wide-planked oak floors.

Sale Price: $718,500
Taxes: $13,934

Featured Listings:

2 Split Tree Road, Scarsdale

Fabulous restored Contemporary on .74 of a majestic acre with pool, hot tub and pool house. The exterior was completely refaced in 2014. New kitchen 2014. Fabulous open first floor with floor to ceiling sliding doors from the living room, dining room, family room onto a perfect patio for entertaining and park-like backyard. Hardwood floors throughout. Generator. Tribeca meets the Hamptons! A fantastic move-in ready home. Beautiful private neighborhood. Renovations have turned this home into the luxurious sleek space today's buyers crave. For more information, click here.

List Price: $2,495,000

20 East Taunton Road, Scarsdale

Stately, brick Colonial in a cul-de-sac location in the desirable and sought-after Crane Berkeley neighborhood. Two-story entry foyer, granite and stainless dine-in kitchen, large rooms for entertaining. Many period details and charm in the home. There are three wood-burning fireplaces, sweeping center hall staircase and hardwood floors throughout. Large casement windows highlight the wrap-around bluestone patio and let the sun shine in. Large playroom. Master suite has private dressing room, and a modern bathroom with shower and tub. Two additional bedrooms share a bath and the fourth is its own private suite. Steps to the elementary school, playground and less than a mile to the Metro North station. Short 29 minute commute to Grand Central Station. Taxes with basic star $33,830. For more information, click here.

List Price: $1,525,000

Open Houses:

1084 Post Road, Scarsdale
Sunday January 17th, 1-3pm

A rare opportunity to own an Eastlake Victorian on over an acre of private property in the heart of Scarsdale Village. This stunning home is beautifully sited and combines the best of old and new. Original detail includes high ceilings, fine millwork, gleaming oak floors, three fireplaces (including a brick hearth in the renovated kitchen), beautiful staircase and three covered porches. Renovations include new Chef's kitchen with marble countertops, stainless steel appliances and a spacious sun-filled eating area; new Butler's pantry with wine refrigerator and three new baths. The best of old and new. Truly spectacular. Taxes are being grieved.  Click here for more information.

List Price:  $1,795,000

Details

Written by Joanne Wallenstein

Category: Real Estate

Published: 31 December 2015

Homes continued to sell, right through the end of December. Here are just some of the recent closings:
35 Murray Hill Road:
Contemporary Center Hall Colonial in Murray Hill situated on a flat acre of land on a cul-de-sac. A stonewall borders almost the entire length of the property. Entry hall provides a wonderful flow throughout the first floor. Hardwood floors, formal dining room with dentil molding, sunken living room with marble fireplace, music room. Sunken family room with cathedral vaulted beam ceiling and wood burning stone fireplace, patio doors to a spectacular park like grounds. Kitchen with island and breakfast area, laundry room and powder room complete the first floor. Master Suite with sitting area and 3 additional bedrooms, and playroom/game room, back staircase. Lower level, recreation, fitness, full bath, and storage.

Sale Price: $2,825,000
Real Estate Taxes: $60,776

61 Church Lane:
Fox Meadow Colonial on professionally landscaped 1/3 acre property. Designed by popular local architect, this meticulously crafted 6 bedroom, 6.1 bath home was re-built in 2003. Private gardens with perennials and hydrangeas- featured in 2008 Garden Tour of Scarsdale homes. Professional chef's kitchen offers Wolf range top, double ovens, oversized SubZero refrigerator, large granite island, and sunny breakfast area. Spacious stone veranda. Large family room adjacent to kitchen. Private bedroom/library with bathroom completes this level. Master bedroom has 11 foot ceilings, walk-in-closet and an award-winning master bathroom.

Sale Price: $2,593,500
Real Estate Taxes: $56,452

44 Greenacres Avenue:
Greenacres brick Center Hall Colonial with exquisite architectural details throughout. Beautiful leaded windows, three fireplaces, grand center hall opens to all first floor rooms, living room, dining room, family room, powder room as well as entrances to outdoor private patio, slate roof, large 2-car garage and updated cook's kitchen with granite counters, center island, professional stove and three sinks. Master suite with new master bath with soak tub and shower, 2 sinks and outfitted walk-in closet, three bedrooms, one en-suite, two new baths, two walk-in closets and bonus office complete the second floor. Lower level playroom, guest quarters with separate entrance, beautiful updated bath, laundry room and office. Private backyard.

Sale Price: $2,182,500
Real Estate Taxes: $50,141

68 Popham Road:
Sunny French Normandy Tudor near Scarsdale Village. Private setting behind a picturesque grove of trees. Freshly painted interior with gleaming oak floors. 11 rooms including 5 bedrooms, 3 full baths and a powder room. Large leaded glass windows provide lots of light and have great views. 2009 chef's kitchen with marble counters and adjoining breakfast room and pantry/bar area. Top appliances including La Cornue stove, Sub-Zero refrigerator, Miele dishwasher, Sub-Zero wine refrigerator and a warming drawer. Tastefully renovated marble baths. New Vermont slate roof with all copper gutters in 2007. New plumbing throughout. Flat backyard.

Sale Price: $1,525,000
Real Estate Taxes: $31,511

47 Montrose Road:
Charming sunny Tudor located in Greenacres. Side hall entry way provides an immediate view of the first floor and private yard. Hardwood floors throughout. Spacious living room with wood burning fireplace. French doors and windows. The 32 foot long living room leads to both the dining room and a comfortable sun room. The eat-in kitchen has been updated with new granite countertops. The pantry leads to the powder room and doorway to a large patio and private yard. Upstairs, there are three bedrooms and full hall bath. The master bedroom features a large walk-in closet. There is an additional bedroom and full bath on third floor. The basement leads to a two-car garage. New gas furnace and water heater.

Sale Price: $1,125,000
Real Estate Taxes: $22,515

10 Brook Lane:
Greenacres Colonial on a private lane. Built with old-world charm, this classic home boasts artisan cabinetry, original hardware and inviting spaces. Recently refinished hardwood flooring. Elegant rooms including a step-down living room with wood burning fireplace flanked by bookshelves. Large formal dining room with bay window and built-in credenza. Bright, spacious kitchen with a sunny eat-in area and views of the backyard and private flagstone terrace. Master bedroom with working fireplace and lovely views of the home's park-like setting. Updates include central air-conditioning, windows, and hardwood floors.

Sale Price: $910,000
Real Estate Taxes: $17,625

Edgemont:
11 Campden Road:
Stone Colonial on a picturesque and quiet street in Cotswold area of Edgemont. This mint condition house features 5,264 square feet of fully renovated space and perfectly flat and private professionally manicured grounds. Features include a grand step down living room with high ceilings and original limestone fireplace, formal dining room, all stone sun room with French doors, fully renovated eat in kitchen with center island, desk area, SubZero and Miele appliances and breakfast room, mudroom, large family room with doors to yard, 2 car garage, 5 bedrooms and 4 full baths plus a powder room. Completely renovated in 2008.

Sale Price: $2,340,000
Real Estate Taxes: $37,861

17 Paradise Drive:
Five bedroom Colonial on almost 1/2 acre of beautifully landscaped property. Gourmet kitchen with center island and breakfast area with picture frame window adjacent to fabulous family room with built-ins and new hardwood floor. Amenities and special features include new landscaping and masonry, new bluestone patio, all renovated baths, new shingles, freshly painted inside and out, refinished floors, new in-ground sprinklers, two car garage with high ceilings, new garage doors, and new hot water heater.

Sale Price: $1,250,000
Real Estate Taxes: $38,346