Manhattan versus Westchester -Where to purchase?

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Real Estate Agent with Julia B. Fee Sotheby's International Realty #30RO0980081

 

     I  find myself once again referencing  the hit Bravo TV series “Million Dollar Listing New York” . I am always amazed at the prices of the properties shown , and I found myself  looking to some of  the Manhattan companies and their quarterly reports. In addition to our Tri-State Alliance,   Houlihan Lawrence has affiliations with great companies such as Corcoran, Halstead Properties  and of course Christies Great Estates which is great for referrals, etc.

Brown Harris Stevens showed a record first quarter 2014.  While we are discussing the median sale prices being $935,000  ( up over 7% from the previous year’s first quarter), and while the sales increase could be in part with 2012 tax law changes, sales were nevertheless up some 25% in comparison to the first quarter 2013. Coop prices averaged over $1.2 Million in the first quarter, and up some 23% from the first quarter 2013 (courtesy of Brown Harris Stevens).

Prices per square foot ranged from $1507 a square foot in some new developments to $3000 to a new development at other new developments. When I see that  3 bedroom+ apartments sold for an average of $3.250 Million  in the first quarter of 2013 compared to an average of $5.338 Million in the first quarter of 2014 (**Downtown – south of 34th Street), I have to ask myself …. don’t the buyers realize that we have excellent schools, beautiful homes close to the city, water, boating, kayaking, parks, and just 30 or so minutes away, and all for a fraction of the cost of a New York City apartment?

The Sound Shore area did get off to a slower start this spring market due to Mother Nature,  as frigid temperatures and winter storms tested the patience of both buyers and sellers in the region. Nonetheless, Westchester, Putnam and Dutchess counties were able to open 2014 with the strongest first quarter for closed sales across the region since the pre-recession glory days of 2007. (Courtesy of Chris Meyers, COO of Houlihan Lawrence).

I would think that it is a no-brainer when comparing a 4-5 bedroom home in Larchmont, Mamaroneck or New Rochelle where there are families, parks, great schools, sports and recreation of all kinds,  where there are prices to suit all, in lieu of the $3-5 Million property in the city with perhaps only 3 bedrooms. After all, wouldn’t you rather have your own barbecue  a few steps from your kitchen as opposed to going to that lucky friend who is enabled to barbecue on their city apartment rooftop or balcony?

Some great homes in the area are:

http://www.271beechmontdrive.com

http://www.155taymilroad.com

Search for other properties here ….

Contact me all of your Sound Shore real estate needs.

Westchester is GREAT!

 

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Rainmaker
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Women of Westchester Working Together
Women of Westchester Working Together - West Harrison, NY
Women helping Women get ahead

Oh yes, Westchester has so much more to offer vs. the City.  You still have all the benefits of the city/many work there, while living in a way nicer and safer area w/ better schools and nice neighbors.  Larchmont and New Rochelle are great. - Debbie

Jun 14, 2014 02:14 AM #1
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Gay, I know that there are some beautiful places to live in Westchester, but I'll take Manhattan any day!  When I lived in my 5th floor walkup brownstone between Park and Madison, I could ride my bike to work through Central Park.  Or walk.  It was pretty magical. 

Jun 14, 2014 01:12 PM #2
Rainer
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Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

It's still location, location, location Gay.

Jun 14, 2014 09:34 PM #3
Rainmaker
535,255
Gay E. Rosen
Julia B. Fee Sotheby's International Realty - Larchmont, NY
As Real as Real Estate Gets!

Hi Debbie - Westchester is great!

Jun 16, 2014 06:38 AM #4
Rainmaker
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Gay E. Rosen
Julia B. Fee Sotheby's International Realty - Larchmont, NY
As Real as Real Estate Gets!

Hi Patricia - interesting.... but you have to pay so much more though!

Jun 16, 2014 06:39 AM #5
Rainmaker
535,255
Gay E. Rosen
Julia B. Fee Sotheby's International Realty - Larchmont, NY
As Real as Real Estate Gets!

Hi - perhaps  but it is also nice to walk to the beach, parks and enjoy the fresh air !

Jun 16, 2014 06:40 AM #6
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Gay - I believe it is a matter of lifestyle, and prestige of living in Manhattan plays a role. I remember the places you mention, we used to go to Larchmont to their waterfront park, remember walking the streets, it was gorgeous.

 

Jun 22, 2014 03:15 AM #7
Rainmaker
535,255
Gay E. Rosen
Julia B. Fee Sotheby's International Realty - Larchmont, NY
As Real as Real Estate Gets!

Hi Jon -  I know all a matter of choice and taste..

Jun 22, 2014 11:50 PM #8
Rainmaker
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Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

Oh yes, I've been getting so many customers moving from NYC out to westchester.

Mar 07, 2015 10:40 PM #9
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Rainmaker
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Gay E. Rosen

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