Cindy Landis on the Local Real Estate Market Mid Year Update
By Cindy G. Landis, Brokerage Manager, Bronxville Office of Houlihan Lawrence
July 7, 2021:
Mid-Year Update
Happy Summer! It’s hard to believe that as I write this, half of 2021 is over. What a time this has been both from a real estate perspective as well as a personal one. Thanks to vigilance and vaccination, it appears that perhaps the worst is behind us.
From a real estate standpoint, Covid created a seemingly insatiable demand for homes beyond NYC, particularly ones with outdoor space and homes with more room to “spread out” - since “going out” wasn’t an option.
As the results below demonstrate, many sellers were beneficiaries, although buyers were careful shoppers too. Communities well beyond “the usual suburbs” saw an influx of lookers & buyers since commute time to NYC was no longer relevant in the short term.
However, as the virus wanes (hopefully) and people are again venturing back into NYC, things may be normalizing. As well, people are celebrating summer this year, creating a pause in the market for now. It’s hard to predict the next phase, but here are the stats at mid-year.
Bronxville Village Single Family Homes
Robust demand with limited supply has driven prices up. There are 21 homes in contract (pending) compared with 19 at the same time last year, a 10.5% increase.
Thus far, 28 homes have closed in the first half compared to 22 sales last year, 27% more. Although the most popular price point is still between $2,000,000 and $2,999,999 (13 sales), there have been 3 closed sales in the $4,000,000 to $4,999,999 range compared to none for the first half of 2020. Additionally, there is one house in contract above $4,000,000 and 2 homes in contract above $5,000,000.
The median price is up nearly 21% year to date to $2,750,000, 10.5% year over year. The price per square foot stands at $623, up 7.2% from the end of 2020.
Village Townhouses, Coops & Condos
There has been one townhouse closing in the first half of 2021. 3 townhomes are in contract ranging in list price from $1,150,000 to $1,565,000. There are 5 townhouses listed now compared to 9 last year, a 44% decline in supply. The median sale price is $1,100,000.
The coop market is marching to the beat of a different drummer. There are more coops on the market now, 22, than at the same time last year when there were 13 units listed, a 69% increase.
Happily, 9 units are in contract, compared to 5 last year, an 80% increase. 13 units have closed so far, which is the same as last year. The median price is $570,000.
There are 3 condominiums for sale currently, all listed for less than $1,000,000. There are 4 condos in contract, 3 of which are in the list price range of $1,500,000 to $1,999,999. Last year there were 2 offered for sale at this time and 2 in contract.
Only one condo has closed so far this year, but year over year, there has been a 40% increase in sales (7 compared to 5), and the year over year median is $1,650,000.
Outside the Village
Bronxville PO/Yonkers and the 10552 area of Mt. Vernon are both experiencing a surge in buyer demand.
In the PO, pending sales are up 80% and listings for sale are down by 47%. 33 homes have closed compared to 30 last year. The median price is up nearly 13% to $808,000.
10552 has experienced a nearly 9% rise in median sale price to $625,000. Pendings are down slightly – 16 compared to 18 in 2020 – most likely as a result of constrained inventory.
There are 17 homes for sale in 10552 versus 32 at this time a year ago, a decrease in inventory of nearly 47%.
What’s next?
The market has quieted down recently compared to the activity we have experienced for the last 12 months. I’m supposing that after a year or more of lockdown, people are taking advantage of their regained freedom.
It’s natural to take a pause, but stay tuned for what’s next. Real estate has the uncanny ability to surprise people time and again.
Enjoy your summer!
Pictured: Cindy Landis
Photo courtesy Houlihan Lawrence
Editor's note: As a public service, MyhometownBronxville publishes articles from local institutions, officeholders, and individuals. MyhometownBronxville does not fact-check statements therein, and any opinions expressed therein do not necessarily reflect the thinking of its staff.
Real Estate Directory
Bronxville is a quaint village (one square mile) located just 16 miles north of midtown Manhattan (roughly 30 minutes on the train) and has a population of approximately 6,500. It is known as a premier community with an excellent public school (K-12) and easy access to Manhattan. Bronxville offers many amenities including an attractive business district, a hospital (Lawrence Hospital), public paddle and tennis courts, fine dining at local restaurants, two private country clubs and a community library.
While the earliest settlers of Bronxville date back to the first half of the 18th century, the history of the modern suburb of Bronxville began in 1890 when William Van Duzer Lawrence purchased a farm and commissioned the architect, William A. Bates, to design a planned community of houses for well-known artists and professionals that became a thriving art colony. This community, now called Lawrence Park, is listed on the National register of Historic Places and many of the homes still have artists’ studios. A neighborhood association within Lawrence Park called “The Hilltop Association” keeps this heritage alive with art shows and other events for neighbors.
Bronxville offers many charming neighborhoods as well as a variety of living options for residents including single family homes, town houses, cooperatives and condominiums. One of the chief benefits of living in “the village” is that your children can attend the Bronxville School.
The Bronxville postal zone (10708, known as “Bronxville PO”) includes the village of Bronxville as well as the Chester Heights section of Eastchester, parts of Tuckahoe and the Lawrence Park West, Cedar Knolls, Armour Villa and Longvale sections of Yonkers. Many of these areas have their own distinct character. For instance, the Armour Villa section has many historic homes and even has its own newsletter called “The Villa Voice” which reports on neighborhood news.
Park Sterling Realty
17 1/2 Park Place Bronxville, New York 10708
914-337-1234
https://www.parksterlingrealty.com/
Houlihan Lawrence
4 Valley Road Bronxville, New York 10708
914-337-0400
www.houlihanlawrence.com/offices/Bronxville
www.houlihanlawrence.com
Houlihan & O'Malley
133 Parkway Road Bronxville, New York 10708
914-337-7888
Julia B Fee Sotheby's International Realty
2 Park Place
Bronxville, NY 10708
914-620-8682
Compass
130 Pondfield Road, Suite 10
Bronxville, New York 10708
914 337 0070
Bertine, Hufnagel, Headley, Zeltner, Drummond & Dohn LLP
Established in 1929, Bertine, Hufnagel is "a general practice law firm, offering clients expertise in both individual and commercial matters." Their broad range of services include the following: Wills, Estate
Planning and Taxation, Probate and Estate Administration, Elder Law, Real Estate (commercial, residential, condominiums and cooperatives), Commercial Law and Transactions, Litigation and Banking Law.
700 White Plains Road
Suite 237
Scarsdale, New York 10583
(914) 472 7700
(914) 472 1946 (fax)
www.bertinehufnagel.com
Suzanne M. Bloomer
Wills, Trusts, Estates and Real Estate
85 Pondfield Road
Bronxville, New York 10708
914-337-0142
This email address is being protected from spambots. You need JavaScript enabled to view it.
George R. Mayer, Esq.
65 Pondfield Road #6 Bronxville, New York 10708
914-337-3033 (tel)
914-337-1038 (fax)
www.bronxvillelaw.com
This email address is being protected from spambots. You need JavaScript enabled to view it.
Griffin, Coogan, Sulzer & Horgan, P.C.
Attorneys and Counselors at Law
Located in Bronxville, New York, Griffin, Coogan, Sulzer & Horgan, P.C. takes great pride in providing our clients with comprehensive, high quality legal services in a responsive manner. The firm concentrates its practice in real estate law with a primary focus on issues relating to real estate tax litigation (also known as tax certiorari), real estate transactions, valuation law, real property taxation and tax planning and real property tax exemption matters throughout New York State.
The firm serves as general counsel for several local cooperatives and represents clients in various issues relating to wills, trusts and estate planning.
51 Pondfield Road
Bronxville, NY 10708
(914) 961-1300
This email address is being protected from spambots. You need JavaScript enabled to view it.
Kim O'Toole, Esq.
80 Sagamore Road
914-961-6175 (tel)
914-337-3292 (fax)
This email address is being protected from spambots. You need JavaScript enabled to view it.
Mary Anne O'Callahan, Esq.
32 Gramatan Court Bronxville, New York 10708
914-779-3558 (tel)
914-779-5182 (fax)
This email address is being protected from spambots. You need JavaScript enabled to view it.
Nobile, Magarian & DiSalvo
We are hardworking and dedicated attorneys who, combined, have more than 150 years of experience delivering quality legal advice. Our cutting edge is our ability to enter both the conference room and the courtroom with strength. Our law firm provides legal representation and counsel for both individual and business clients on issues related to estate planning and administration, real estate law, litigation, and business law. Our practice areas include: Commercial Litigation, Business Law, Real Estate, Wills, Estate Planning, Trusts, Estate Administration, Living Wills, Health Care Proxies, Powers of Attorney, Not For Profits, and Employment Law.
111 Kraft Avenue
Bronxville, NY 10708
914-337-6300
Veneruso, Curto, Schwartz & Curto, LLP
Veneruso, Curto, Schwartz & Curto is dedicated to providing businesses and individuals with exceptional legal services customized to each client's needs and objectives. Practice areas include litigation, real estate, not for profit, wills and estate planning, land use and zoning, business and corporate, cooperative and condominium and real estate tax assessment litigation.
The Hudson Valley Bank Building
35 East Grassy Sprain Road, Suite 400
Yonkers, New York 10710
914-779-1100
Peter W. Williamson, Esq.
141 Parkway Road
914-337-3434 (tel)
914-337-3392 (fax)
This email address is being protected from spambots. You need JavaScript enabled to view it.
Leslie Homer
71 North Avenue New Rochelle, New York 10801
914-632-8989
www.homerinsurance.com
This email address is being protected from spambots. You need JavaScript enabled to view it.
John L. Vorbach Company, Inc. Insurance Brokers
Manhattan Media & Technology Center
65 Broadway, 9th Floor
New York, New York 10006
212-294-4900 x 112
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.vorbach.com
Linda Graef Jones, Private Client Sales Executive
Personal Risk Management Solutions
Focuses solely on personal insurance and
provides unique, customized solutions that save
money and time and create peace of mind.
6 East 43rd Street
New York, New York 10017
914-645-3951
This email address is being protected from spambots. You need JavaScript enabled to view it.
Palmer-Tanno Agency, Inc.
Independent Insurance Agents since 1948
Greg Tanno
141 Parkway Road, Suite #11
Bronxville, New York 10708
914-793-6603
This email address is being protected from spambots. You need JavaScript enabled to view it.
Ranieri Insurance Agency
Auto, Home, Business & Life
Over 50 Years' Experience
Paul D. Ranieri, CPCU
457 Palmer Road
Yonkers, NY
914-376-2560
This email address is being protected from spambots. You need JavaScript enabled to view it.
Rollins
Insurance and Risk Management Solutions
Since 1910
65 Main Street
Tuckahoe, New York 10707
914-337-1833
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.rollinsinsurance.com
Edwin Gemes, Ltd.
Bronxville
914-779-7580
This email address is being protected from spambots. You need JavaScript enabled to view it.
Madeline Eckett Oden Interiors
61 Beechmont Avenue
Bronxville, New York 10708
914-779-3935
This email address is being protected from spambots. You need JavaScript enabled to view it.
Jane Mitchell
9 The Byway
914-337-1216
Samuel Botero Associates, Inc.
215 East 58th Street
Suite 6B
New York, New York 10022
212-935-5155
www.botero.com
Sandra Steele Schneider Interiors
70 Burkewood Road
Mount Vernon, New York 10552
914-668-4468
This email address is being protected from spambots. You need JavaScript enabled to view it.
Serendipity Interior Design, LLC
Catherine Wyner
203-846-0809 or 203-637-9266
Shannon Interiors LTD.
Kelly Shannon Jelensperger, President
81 Pondfield Road #344
Bronxville, New York 10708
914-793-1629 (O)
914-953-7584 (C)
914-793-2195 (F)
This email address is being protected from spambots. You need JavaScript enabled to view it.
Architects
Dean Davis
2 Park Place
Bronxville, New York
914-961-5953
Michael Davis
435 Hudson Street, 8th Floor
New York, New York 10014
212-645-6066
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.michaeldavisarchitects.com
Charles Hilton
Hilton Vanderhorn Associates
31 East Elm Street
Greenwich, Ct. 06830
203-862-9011 (tel) 203-862-9196 (fax)
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.hilton-vanderhorn.com
Scott Koniecko Architects
80 8th Avenue
Suite 1600
New York, New York 10011
212-620-3924 (tel)
212-620-7640 (fax)
This email address is being protected from spambots. You need JavaScript enabled to view it.
Maggie Marrone Architects
914-771-6750
This email address is being protected from spambots. You need JavaScript enabled to view it.
Peter Pennoyer Architects
432 Park Avenue South, 11th Floor
New York, New York 10016
212-779-9765
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.ppapc.com
Radoslav Opacic Architects
24 N. Astor
Irvington, New York 10533
914-591-4306 (tel)914-591-4308 (fax)
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.opacicarchitects.com
Landscape Architects
Renee Byers, Landscape Architect P.C.
10 Avon Road
Bronxville, New York 10708
914-337-3103
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.reneebyers.com
Engineers
Civil Engineer
Brett Auerhahn P.E.
914-961-2242
Chimney Sweep
Egan Chimney Sweeps
845-628-8515
Electric
Keating Electric & Technologies
115 Wall Street
Valhalla, New York 10595
914-747-9294
www.keatingelectric.com
Lippolis Electric
445 5th Avenue
Pelham, New York 10803
914-738-3550
James A. Stone
96 Congress Street
Harrison, New York 10528
914-835-0447
White Electric, Inc.
128 Fulton Street
White Plains, New York
914-946-5566
www.whiteelectric.com
General Contractors
Vincent Franco
R-Men Contracting
179 Summerfield Street
Scarsdale, New York 10583
914-472-7007 (tel) 914-472-0451 (fax)
This email address is being protected from spambots. You need JavaScript enabled to view it.
Arthur Lange Inc.
841 Tuckahoe Road
P.O. Box 993
Bronxville, New York 10708
914-337-4422 (tel) 914-395-0471 (fax)
www.arthurlangeinc.com
Heating & Cooling
Absolute Comfort & Temperature Control Inc.
Mr. Paul Gomprecht, President
914-761-0529
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.Absolutecomfortcontrol.com
Richards Conditioning Corp.
70 Marbledale Road
Tuckahoe, New York 10707
914-337-0300
Besson Oil Inc.
140 Marbledale Road
Tuckahoe, New York 10707
914-779-0008
Iron Work
Debra Coddington
Arrowsmith Forge
3788 Rte 44
Millbrook, New York
845-677-5687
www.arrowsmithforge.com
Locksmith
LMC Safe, Lock & Key
Luigi M. Cattzia II
914-241-1583
Painters
All Colors Painting Co.
69 Delaware Road
Yonkers, New York 10710
(Johnnie & Joey)
914-964-9148
Mateus Neto Painting Co.
95 Chase Avenue
Yonkers, New York 10703
914-965-9561
Pick up and take away
Robert Rabsey
914-954-4366
Technical Help
Computer, Network & Internet Services
Gerry McLoughlin
914-337-7084
www.GerryMcL.com
Computer Tutor @ PCI
914-337-1700
www.computertutorpci.com
Geeks on Wheels
Dylan Hall
Harrison, New York
914-562-1800
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.geeks-on-wheels.net
The Computer Nerds, Inc.
PO Box 31
Bronxville, New York 10708
914-779-7952
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.thecomputernerdsinc.com
TV & Steroes
AV Design
130 East Main Street
Elmsford, New York 10523
Design
Maureen Hackett
Hackett Landscape Design Inc.
212-768-4242 and 917-494-8084
Renee Byers, Landscape Architech P.C.
10 Avon Road
Bronxville, New York 10708
914-337-3103
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.reneebyers.com
Maintenance
Frank Bulfamonte & Sons, Inc.
914-235-1835
26 Circuit Road
New Rochelle, New York 10805
914-235-1835
Land Productions Inc.
360 Adams Street
Bedford Hills, New York
914-666-8214
Lieb's Nursery & Garden Center
1 Askins Place
New Rochelle, New York 10801
914-632-5599
Florists
Tryforos and Pernice
73 Pondfield Road
Bronxville, New York
914-337-2525
Plants & Nurseries
Lieb's Nursery & Garden Center
1 Askins Place
New Rochelle, New York 10801
914-632-5599
Rosedale Nurseries
51 Saw Mill River Road, Route 9A
Hawthorne, New York 10532-1598
914-769-1300
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.rosedalenurseries.com
Sprainbrook Nursery, Inc.
448 Underhill Road
Scarsdale, New York 10583
914-723-2382
www.sprainbrook.com
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