Scarsdale NY – Housing and Market Statistics for Third Quarter 2009

By
Real Estate Agent with Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605

Scarsdale NY - Village in Fall PhotoFirst, apologies for posting this so late.  A family illness has been creating a time squeeze and although this may be a bit dated, it is good to have a third quarter reference to look back on.

Scarsdale NY housing has been in the cross hairs of the housing recession for a while now.  Initially,  it was resistant to the correction taking place in other parts of the country.  Eventually the forces that had hit other parts of the country so dramatically, came home to roost even in the most resilient areas of Westchester.  Real estate values in Scarsdale NY came under prssure as inventories swelled.  The drop was severe. However, some of the numbers show  signs of  a bottom being at hand.

Cooperatives:

The number of co-ops sold are  down 15% over the previous year.   This is a trend that has been seen in other parts of the county and reflects the difficulties in obtaining financing.   Currently there is a nearly 8 month inventory on the market. However, prices remain slightly higher than the previous year, (5.4%) indicating a market that is stabilizing.   There are some mixed signals here.  the inventory is still high however, the pricing is surprisingly robust.

Single Family  Homes – Scarsdale:

After a “pop” during the 2nd quarter prices have once again fallen and are down 27% over the 3rd quarter of 2008.   Swollen inventories are going down.  Right now inventories are approaching th 6 month mark.

Single Family  Homes Edgemont -

Edgemont shares ad PO with Scarsdale, but it is actually is in the town Greenbburgh.  Sales have picked up in the area leaving inventories low at about 4.4 months.

An Important Note About the Criteria for the Statistics:

I handle each type of housing in Scarsdale differently. I also include a special section for single family homes in “Edgemont” which is really in the town of Greenburgh with a Scarsdale post-office and zip code.
For condominiums and cooperatives, I use the Scarsdale post office and zip code as my criteria. Many of these complexes are actually located in Greenburgh and Eastchester.

This reflects the way most buyer’s shop for housing. Coop and condo buyers work by address whereas those looking for single-family homes are often shopping municipality and school districts.

Scarsdale - Edgemont Single family housing stats

Scarsdale NY - cooperative sales

Scarsdale housing sales volume

Scarsdale housing invenotry vs sales volume

Additional Reading:

Housing and Market Statistics for Scarsdale NY – Second Quarter 2009

Scarsdale NY – Housing and Market Statistics for First Quarter 2009

Scarsdale NY – Housing and Market Reports for 4th Quarter 2008

To Search for Homes and for further information go to my website/blog with free home search at The Westchester View

I am always happy to answer your questions and you can speak to me directly on my moble phone: 914-374-5529.

 

© 2009 Ruthmarie G. Hicks http://thewestchesterview.com. All rights reserved. Original post link:

Scarsdale NY – Housing and Market Statistics for Third Quarter 2009

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