This is an update on the status of Jefferson Place - White Plains sales volume and pricing. For a link to the full web page on Jefferson Place click here.
White Plains NY condos go, Jefferson Place offers a great deal of luxury for the money. The complex spans on square block between Livingston Ave. and Rutherford Ave. in White Plains, NY with units on 300 Mamaroneck Ave. and 31 Greenridge Ave. Jefferson Place is located a scant half -mile from Trump Tower, the Ritz Carlton and the White Plains City Center. The city side – facing Mamaroneck Ave. is an eight-story urban mid-rise with a sophisticated brick façade. While the suburban side on Greenridge Ave blends in with the single family homes that dominate this area. The flats look like town homes, but are - in reality - walk up condos. The low-rise portion surrounds tree-lined streets, single family homes while the city side faces the downtown. Whatever side of the complex you are on - you can leave the car and walk. Jefferson Place - White Plains has a coveted "walkers paradise" rating for walkscore.com
Jefferson Place – White Plains – Sales History – 2006 – Jun 2010*
The chart below follows the average sales price of 1 BR and 2 BR units at the 300 Mamaroneck Ave. midrise portion of Jefferson place from 2006-2009. For 1 BR units the average sales price peaked in 2007 for about $400,000 and is now down nearly 15% at $341,000. 2 BR units have lost more ground dropping 20% from their height in early 2008 from $575,000 to $459,000. Actual pricing depends on many variables including square footage, view and location in the building. Upper floors traditionally selling for more. * All data was derived from the Westchester Putnam MLS.
Update on Sales Prices & Listing Prices for Q2 2010:
Thanks to the tax credit there was an uptick in sales volume – particularly in the second quarter. There were 4 sales of 1 BR units during the first half of 2010. The average sales price for a 1 BR unit was $352,000. That average was slightly higher than the Jul-Dec numbers – however, some of these units were of the larger variety. There were 3 sales of 2 BR units. One unit was very richly priced due to some unique amenities – so the average sales price of $458,000 needs to account for that fact. Since the end of Q2 – two larger 1 BR units have sold with an average price of $360,000 and 1 2 BR unit sold for $440,000. In White Plains generally – the market is tough for condos. Currently, sales are down to half of their 2009 levels. Inventories are swollen with a 2 year supply on the market. Fortunately – the listing load at Jefferson place is down to 4 units.
So sellers should take heart because they can indeed sell their units. My own track record selling in this complex speaks to that ability. When the unit was marketed heavily and properly presented (staged so that buyers could “see” themselves in the unit) my median number of days to contract is at 59 days. This works only when the seller is realistic. Staging is really no longer optional and with prices dropping at Trump – Trump could actually provide some competition for the upper end units at Jefferson. So although this complex represents an attractive price-point for buyers, sellers need to price competitively in order to get noticed given the amount of inventory on the market in White Plains as well as surrounding areas.
For some further photos of Jefferson Place – Here are some posts about individual listings:
These are not currently active – but give potential buyers a good feel for the complex.
1BR/1BA/Home Office – Pet-Friendly Condo at Jefferson Place – 300 Mamaroneck Ave. #429 Offered at $389,900
2 BR/2 BA Pet-Friendly Condo at Jefferson Place – 300 Mamaroneck Ave. #828 Offered at $455,000
2 BR/2 BA Pet-Friendly Condo at Jefferson Place -300 Mamaroneck Ave. #308 in White Plains – Offered at $469,000
Pet-Friendly Condo for sale at Jefferson Place in White Plains #422 – 1BR/1BA – $350,000
For general information about the White Plains Market:
White Plains NY Housing Market Statistics – First Quarter – 2010
© 2010 - Ruthmarie G. Hicks - http://thewestchesterview.com - All rights reserved.
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