BHHS Westchester Properties 2015 Q4 Westchester County Market Report

Fourth Quarter 2015Westchester County Market Report

www.bhhsWestchester.com Westchester county market report • 2

Executive summary

Welcome to the Berkshire Hathaway HomeServices Westchester Properties’ Fourth Quarter 2015 Westchester County Market Report, our examination of the single family, cooperative and condominium markets.

Countywide, the number of single family home closings were up 13.09% year over year and up 16.53% for condominiums. The average price of single family homes was $741,600 in Fourth Quarter 2015, down year over year 4.92%. Condominiums went down in average price by 6.90% year over year.

Average days on market decreased slightly by 0.05% to an average 163 days year over year for single family homes. The median price for cooperatives went up slightly by $145,926 in Fourth Quarter 2015 compared to $145,500 in 2014. The number of cooperatives sold in Westchester County in Fourth Quarter 2015 was 478, down from the previous quarter, but was up year over year (1,757 vs 1,678). Luxury sales year over year remained steady with 329 units sold in 2015 compared to 333 in 2014. The majority of sales were in the $2-5 million range.

Overall, 2015 was a solid year for the housing market. As the market continues to gain momentum in 2016, buyers and sellers will continue to ride the wave of value priced homes. The long-anticipated interest rate increase is not predicted to have a large impact on home buying activity in the year to come. Buyers will still be able to take advantage of lower priced homes and the increase in inventory in the coming months.

At Berkshire Hathaway HomeServices Westchester Properties, our mission is to provide an unparalleled customer service experience throughout all aspects of the home transaction process. If you have any questions regarding the report, Berkshire Hathaway HomeServices Westchester Properties Realtors® are here to help you navigate the current market with expert knowledge and exceptional service.

Candace Adams

President and CEO

4th Quarter 2015

Prepared by:

Candace Adams, President/CEO, [email protected] Redican, Director of Marketing, [email protected]

Cover Photo: Scarsdale • www.9olmstedRd.bhhsWestchester.com

Information here-in is based in whole or part on reports supplied by Collateral Analytics and area Multiple Listing Services (MLS), for residential property transactions as of December 31st, 2015, and is being provided “as is.” Data maintained by an MLS may not reflect all real estate activity in the market. It is deemed reliable but not guaranteed.

http://www.bhhsWestchester.com

http://www.9olmstedRd.bhhswestchester.com

Q4-2015


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Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015

Clo

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Single Family Condominium Coop

CLOSED SALES

There were a total of 1,339 closed sales on single family homes in Fourth Quarter 2015, up 13.09% year over year. Condominium closed sales were at 416 in Fourth Quarter 2015, up 16.53% year over year. Cooperative closed sales were up 2.58% year over year.

SALES vOLuME

Sales volume for single family homes was $4,634,593,000 in 2015, up 7.53% year over year. Sales volume for condominiums was $693,840,000 in 2015, up 8.53% year over year. Notable cooperative increases in 2015 were in Goldens Bridge and Briarcliff Manor.

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Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015

Statewide Sales Volume

Single Family

Condominium

Coop

+7.53%Q4 2015 vs Q4 2014

+8.53%

Q4 2015 vs Q4 2014

Q4 2015 vs Q4 2014

-0.99%


Q4-2015


HOME PRICES

Prices for single family homes were $741,600 down 4.9% year over year. Prices for condominiums were $412,900, down 6.9%. The median sales price for single family homes decreased slightly from $571,000 to $570,000 year over year, down 0.2%. Median sales price for cooperatives were $145,900, up 0.3%.

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Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015

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Single Family Condominium Coop

CuRRENT INvENTORy

Supply for all single family homes is up year over year 1.69%. In Fourth Quarter 2015 supply went from 15.4 months to 12 months. Condominium supply decreased from 8.9 months to 7.2 months in Fourth Quarter 2015, but is down year over year 19.10%. Cooperative inventory was 10.5 months in Fourth Quarter, down 23.36% year over year.

Average Sales Price Single Family

Average Sales Price Condominium

Median Sales Price Single Family

Median Sales Price Condominium

Q3 2015 $914,000 $458,600 $193,500 $399,500

Change -18.9% -10.0% -17.4% -17.4%

Q4 2015 $741,600 $412,900 $570,000 $330,000

Q4 2014 $780,000 $443,500 $571,000 $345,000

Change -4.9% -6.9% -0.2% -4.3%

Q4 2015 $741,600 $412,900 $570,000 $330,000

Median Sales Price Coop

$162,800

-10.4%

$145,900

$145,900

0.3%

$145,900


Q4-2015


FOuRTH QuARTER LuxuRy SALES

Sales over $2-3 million make up the luxury market in Westchester County. The total number of high end sales decreased slightly in 2015 compared to 2014 (329 vs 333). The majority of high end sales were in the $2-5 million range.

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Q4 2014

Q1 2015

Q2 2015

Q3 2015

Q4 2015

Number of Sales

Luxury Sales Over $5 Million $3-$5 Million $2-$3 Million

Luxu

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Scarsdale • www.5senecaRoad.bhhsWestchester.com


http://www.5senecaroad.bhhswestchester.com

Q4-2015


AVERAGE SALES PRICE MEDIAN SALES PRICE SALES DAyS oN MARkEt DoLLAR VoLuMEQTR 42015

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ARDSLEy

Single Family $712,431 10.9% $655,000 25.1% 29 81.3% 65 -12.2% $20,660,500 101.0%

Condo $792,500 2.7% $788,250 9.5% 4 -42.9% 116 20.8% $3,170,000 -41.3%

Co-op - - - - - - - - - -

BEDFoRD

Single Family $1,126,377 -17.5% $740,000 -22.0% 66 46.7% 104 -11.9% $74,340,875 21.1%

Condo $321,415 -2.6% $340,000 9.4% 13 30.0% 85 -44.1% $4,178,400 26.6%

Co-op $117,611 3.2% $100,000 -13.0% 9 -30.8% 114 44.3% $1,058,500 -28.6%

BLIND BRook

Single Family $749,699 -3.9% $760,000 16.3% 19 -17.4% 92 -27.0% $14,244,273 -20.7%

Condo - - - - - - - - - -

Co-op - - - - - - - - - -

BRIARCLIFF MANoR

Single Family $864,525 -4.2% $773,125 -4.0% 10 -33.3% 69 -36.1% $8,645,250 -36.1%

Condo $470,000 -8.4% $470,000 -8.5% 2 -50.0% 227 120.4% $940,000 -54.2%

Co-op $139,667 100% $145,000 100% 3 100% 114 100% $419,000 100%

BRoNXVILLE

Single Family $2,599,444 30.4% $2,300,000 19.2% 9 50.0% 129 27.7% $23,395,000 95.7%

Condo $827,750 -1.3% $827,750 -16.4% 2 -33.3% 33 -65.3% $1,655,500 -34.2%

Co-op $551,344 22.2% $520,000 73.6% 9 -35.7% 68 -8.1% $4,962,100 -21.4%

ByRAM HILLS

Single Family $988,985 -29.4% $870,000 -29.8% 44 158.8% 102 29.1% $43,515,333 82.6%

Condo - -100.0% - -100.0% - -100.0% - -100.0% - -100.0%

Co-op - - - - - - - - - -

CHAPPAQuA

Single Family $992,534 12.8% $925,000 19.0% 29 -19.4% 124 -29.5% $28,783,499 -9.1%

Condo $476,500 -20.4% $475,500 -5.9% 5 -37.5% 62 -13.9% $2,382,500 -50.2%

Co-op - - - - - - - - - -

CRotoN-HARMoN

Single Family $606,196 -0.4% $555,000 -5.5% 27 107.7% 90 -5.3% $16,367,300 106.9%

Condo $565,000 21.2% $565,000 23.5% 2 -50.0% 64 -47.1% $1,130,000 -39.4%

Co-op - - - - - - - - - -

WESTCHESTER COuNTy By THE NuMBERS

• Peekskill saw increases in sales volume for single family homes, up 64.8% year over year. Pleasantville jumped in sales volume for condominiums (68.1%), and Tarrytown jumped 58.8% for cooperatives

• Average price for single family homes in Scarsdale decreased by 8.7%, but increased for cooperatives by 8.5%.

• Average price for single family homes increased by 2.3% year over year, and increased in median sales price for cooperatives by 3.9%.


Q4-2015



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DoBBS FERRy

Single Family $726,971 -20.6% $677,000 -1.2% 17 30.8% 71 -22.8% $12,358,500 3.8%

Condo $454,331 100% $322,500 100% 4 100% 51 100% $1,817,323 100%

Co-op $262,500 -4.2% $262,500 -15.3% 2 -33.3% 95 106.5% $525,000 -36.1%

EAStCHEStER

Single Family $700,569 2.3% $670,000 0.0% 29 -14.7% 96 35.2% $20,316,500 -12.7%

Condo $250,111 100% $250,111 100% 1 100% 20 100% $250,111 100%

Co-op $219,457 -2.9% $200,000 3.9% 29 -29.3% 71 -22.8% $6,364,250 -31.3%

EDGEMoNt

Single Family $1,221,526 15.5% $999,999 -9.2% 19 -17.4% 78 11.4% $23,208,999 -4.6%

Condo - -100.0% - -100.0% - -100.0% - -100.0% - -100.0%

Co-op $256,445 3.1% $285,000 15.6% 11 10.0% 60 -20.0% $2,820,900 13.4%

ELMSFoRD

Single Family $504,133 19.3% $472,500 18.0% 16 0.0% 68 -35.8% $8,066,120 19.3%

Condo - - - - - - - - - -

Co-op - - - - - - - - - -

GREENBuRGH

Single Family $481,642 1.8% $444,500 -3.2% 40 8.1% 55 -38.2% $19,265,682 10.1%

Condo $340,007 -9.6% $275,900 -19.0% 23 91.7% 74 7.2% $7,820,150 73.2%

Co-op $189,693 16.9% $194,500 28.4% 28 7.7% 119 -17.9% $5,311,400 25.9%

HARRISoN

Single Family $1,241,065 -17.8% $950,000 -26.9% 23 -30.3% 89 -28.8% $28,544,500 -42.7%

Condo $318,750 13.8% $282,250 0.8% 6 500.0% 92 15.0% $1,912,500 583.0%

Co-op $151,800 -12.9% $122,250 -34.3% 10 25.0% 102 -11.3% $1,518,000 8.9%

HAStINGS

Single Family $916,859 11.0% $805,000 1.6% 17 6.3% 77 20.3% $15,586,600 18.0%

Condo $353,650 24.7% $330,000 23.0% 8 -55.6% 47 -60.5% $2,829,200 -44.6%

Co-op $196,200 -19.8% $155,000 -17.3% 5 25.0% 64 -52.9% $981,000 0.2%

HENDRICk HuDSoN

Single Family $436,288 -5.7% $359,500 -14.2% 37 -9.8% 88 -16.2% $16,142,644 -14.9%

Condo $190,543 -38.4% $195,000 -28.6% 5 -16.7% 71 -51.7% $952,717 -48.6%

Co-op $84,375 -6.0% $62,500 -16.1% 4 -33.3% 104 10.6% $337,500 -37.3%

IRVINGtoN

Single Family $1,124,357 -6.4% $947,500 -16.7% 14 -22.2% 82 -47.4% $15,741,000 -27.2%

Condo $734,667 18.6% $725,000 17.0% 3 50.0% 34 21.4% $2,204,000 77.9%

Co-op $263,290 -27.1% $215,000 8.3% 9 50.0% 86 -1.1% $2,369,607 9.3%

kAtoNAH-LEWIBoRo

Single Family $686,459 3.9% $560,000 -7.8% 45 -4.3% 105 -28.1% $30,890,650 -0.5%

Condo $287,125 -8.7% $316,000 -6.4% 7 16.7% 73 -2.7% $2,009,875 6.5%

Co-op - - - - - - - - - -

LAkELAND

Single Family $376,822 11.1% $360,000 9.1% 75 11.9% 95 -15.2% $28,261,655 24.4%

Condo $261,525 4.5% $240,000 -6.6% 32 0.0% 109 29.8% $8,368,785 4.5%

Co-op $63,000 -52.2% $70,000 -47.6% 3 -25.0% 125 -25.6% $189,000 -64.1%


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MAMARoNECk

Single Family $1,364,568 -6.9% $1,072,500 16.0% 50 0.0% 70 -28.6% $68,228,400 -6.9%

Condo $537,600 -1.9% $399,000 10.1% 5 -61.5% 58 -53.2% $2,688,000 -62.3%

Co-op $184,481 -14.7% $161,750 -26.5% 24 -4.0% 74 -17.8% $4,427,549 -18.2%

MouNt PLEASANt

Single Family $547,842 3.7% $507,500 -3.4% 31 55.0% 93 22.4% $16,983,109 60.7%

Condo $505,000 62.9% $505,000 62.9% 1 0.0% 34 -66.3% $505,000 62.9%

Co-op - - - - - - - - - -

MouNt VERNoN

Single Family $382,132 -17.0% $371,000 -14.3% 42 55.6% 120 -13.7% $16,049,550 29.1%

Condo $360,000 94.6% $360,000 67.4% 2 -33.3% 261 342.4% $720,000 29.7%

Co-op $98,369 -3.9% $91,500 4.4% 32 -15.8% 142 -19.3% $3,147,800 -19.1%

NEW RoCHELLE

Single Family $669,325 3.6% $647,000 4.0% 102 25.9% 93 -9.7% $68,271,133 30.5%

Condo $388,350 -12.0% $380,000 -7.3% 14 -17.6% 104 -3.7% $5,436,900 -27.5%

Co-op $144,868 -8.8% $132,500 1.9% 34 -10.5% 107 -23.0% $4,925,500 -18.4%

NoRtH SALEM

Single Family $622,781 -44.4% $405,000 -31.4% 17 13.3% 138 -26.6% $10,587,275 -36.9%

Condo - - - - - - - - - -

Co-op - - - - - - - - - -

oSSINING

Single Family $423,760 -11.3% $382,000 -4.2% 63 57.5% 90 -24.4% $26,696,875 39.7%

Condo $383,985 5.0% $330,000 0.0% 25 47.1% 74 -9.8% $9,599,625 54.4%

Co-op $121,158 14.5% $106,250 16.1% 12 20.0% 120 -31.4% $1,453,900 37.4%

PEEkSkILL

Single Family $289,644 23.6% $291,775 32.0% 32 33.3% 96 -13.5% $9,268,609 64.8%

Condo $220,328 -14.4% $225,000 -17.3% 25 92.3% 95 -25.8% $5,508,210 64.6%

Co-op $62,845 -6.1% $57,500 1.1% 11 37.5% 178 12.7% $691,300 29.0%

PELHAM

Single Family $657,843 -20.3% $587,000 -20.1% 16 -33.3% 73 -12.0% $10,525,490 -46.9%

Condo $480,667 36.6% $517,000 34.3% 3 0.0% 124 -29.5% $1,442,000 36.6%

Co-op $198,850 22.6% $159,000 10.0% 4 -20.0% 109 6.9% $795,400 -1.9%

PLEASANtVILLE

Single Family $663,762 18.9% $590,000 19.2% 24 20.0% 82 -20.4% $15,930,293 42.7%

Condo $322,417 12.1% $312,500 13.3% 6 50.0% 55 -25.7% $1,934,500 68.1%

Co-op $237,500 100% $237,500 100% 1 100% 60 100% $237,500 100%

PoCANtICo HILLS

Single Family $952,625 85.3% $933,750 61.0% 4 33.3% 139 143.9% $3,810,500 147.1%

Condo $253,333 100% $255,000 100% 3 100% 34 100% $760,000 100%

Co-op - - - - - - - - - -

PoRt CHEStER

Single Family $473,519 2.8% $471,000 7.4% 28 27.3% 72 -24.2% $13,258,521 30.8%

Condo $319,563 7.7% $329,250 46.3% 8 100.0% 48 2.1% $2,556,500 115.4%

Co-op $119,300 9.7% $105,500 13.4% 10 0.0% 79 -58.0% $1,193,000 9.7%


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PutNAM VALLEy

Single Family $403,333 -2.1% $400,000 3.5% 3 0.0% 92 22.7% $1,210,000 -2.1%

Condo - - - - - - - - - -

Co-op - - - - - - - - - -

RyE CIty

Single Family $2,161,182 32.6% $1,592,500 27.4% 22 4.8% 85 -14.1% $47,546,000 38.9%

Condo $695,625 42.6% $722,500 127.9% 4 33.3% 132 57.1% $2,782,500 91.0%

Co-op $321,921 -34.0% $300,000 0.0% 7 0.0% 133 33.0% $2,253,450 -34.0%

RyE NECk

Single Family $1,142,723 11.1% $799,750 12.1% 22 10.0% 92 -5.2% $25,139,900 22.3%

Condo - - - - - - - - - -

Co-op $202,071 -38.8% $191,500 -42.0% 7 600.0% 73 -6.4% $1,414,500 328.6%

SCARSDALE

Single Family $1,689,929 -8.7% $1,410,000 -6.8% 35 -16.7% 90 5.9% $59,147,500 -23.9%

Condo $1,300,000 100% $1,300,000 100% 2 100% 20 100% $2,600,000 100%

Co-op $321,000 8.5% $220,000 -25.6% 9 350.0% 160 27.0% $2,889,000 388.2%

SoMERS

Single Family $587,877 6.1% $540,000 6.9% 45 4.7% 109 6.9% $26,454,449 11.0%

Condo $385,838 6.6% $340,750 0.2% 34 3.0% 65 -13.3% $13,118,500 9.8%

Co-op - - - - - - - - - -

tARRytoWN

Singe Family $639,645 -18.8% $640,500 8.6% 20 53.8% 90 -13.5% $12,792,900 25.0%

Condo $442,923 -31.1% $459,000 -3.4% 13 -38.1% 84 33.3% $5,758,000 -57.4%

Co-op $137,667 5.9% $150,000 15.4% 3 50.0% 106 16.5% $413,000 58.8%

tuCkAHoE

Singe Family $715,500 14.2% $725,000 31.8% 7 -36.4% 59 -38.5% $5,008,500 -27.3%

Condo $411,071 15.6% $410,000 7.5% 7 75.0% 60 -28.6% $2,877,500 102.2%

Co-op $204,875 15.4% $197,500 17.6% 4 -20.0% 52 -46.4% $819,500 -7.7%

VALHALLA

Single Family $624,716 29.7% $541,000 16.3% 16 -15.8% 78 -10.3% $9,995,450 9.2%

Condo - - - - - - - - - -

Co-op $160,314 4.8% $175,000 4.5% 7 40.0% 142 20.3% $1,122,200 46.8%

WHItE PLAINS

Single Family $619,049 -14.3% $565,000 -19.9% 61 32.6% 73 -9.9% $37,762,000 13.6%

Condo $679,815 -7.4% $517,500 34.8% 54 38.5% 71 1.4% $36,710,000 28.3%

Co-op $173,331 -2.9% $152,750 -0.5% 68 25.9% 102 -4.7% $11,786,500 22.3%

yoNkERS

Single Family $484,442 1.7% $433,750 -0.3% 154 23.2% 96 14.3% $74,603,999 25.2%

Condo $276,917 12.8% $291,250 35.5% 30 100.0% 93 -19.1% $8,307,500 125.7%

Co-op $141,190 -6.2% $130,000 -2.6% 142 6.0% 110 -15.4% $20,049,029 -0.6%

yoRktoWN

Single Family $479,749 -1.0% $438,750 4.5% 48 -23.8% 103 14.4% $23,027,960 -24.6%

Condo $355,833 -33.7% $275,000 -48.8% 3 200.0% 139 95.8% $1,067,500 98.8%

Co-op $122,000 100% $122,000 100% 1 100% 101 100% $122,000 100%


BHHS Westchester Properties 2015 Q4 Westchester County Market Report

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