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Archive for January, 2019

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179 FOREST AVENUE in Rye, New York
For Sale: Asking $3,695,000

4,496 SqFt | 6 Bedrooms | 3.2 Baths | 1.30 Acres

With the impressive provenance of a 1904 design by Charles A. Platt, this hipped-roof and stucco residence with its classic symmetrical design is timeless. Dramatic front-to-back living room, designer kitchen, beautiful gardens and pool. This home is ready inside and out for today’s style of living. Contact me for a private showing.

6 Fireplaces | 3-Bay Garage | Security | Master Suite | Covered Terrace

Public Open House on Sunday, February 3rd at 2:00-4:00pm

Rear Exterior
Dutch Front Door
Dining Room
Kitchen
Library
Patio
Front Exterior

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EXECUTIVE SUMMARYby Stephen Meyers (CEO) and Chris Meyers (President)

Cooling. Not just the temperatures. We forecasted chilly market conditions for Q4 and our predictions held true. Financial markets entered negative territory after a ten-year run, while savvy investors were likely prepared for the inevitable dip, the volatility that accompanied the declines left even the sturdiest investors feeling a bit uneasy. As a result, pending sales across all three counties experienced steep declines. Each county was down by double digits and pending sales declined sharply as you moved away from New York City. Westchester was down 10.9%, Putnam down 11.4% and Dutchess down 17.2%. While the drastic drop in pending sales in Dutchess County can be partially attributed to reduced inventory, down 11.8%, the same cannot be said for Westchester and Putnam counties, where inventory was on the rise 9.5% and 1.8% respectively. With the exception of the Northern Westchester area, all other areas in Westchester increased in inventory, with some areas jumping 20% and as high as 35% just north of New York City. Despite the rise in inventory, showings were flat compared to last year. Showings for homes priced below 1 million dollars and above 2.5 million dollars were down. Showings for homes priced between 1 million and 2.5 million dollars offset the declines on either side. The sweet spot was between 1 million and 1.5 million, where showings were up 30%.

Here are some trends we are seeing as we head into the new year: Our data shows that nearly one third of buyers in our area come from New York City. The once red-hot New York City market has cooled down significantly over the last few months, the resulting effect is a smaller pool of buyers heading north. That being said, we did see a short burst of showing activity in the first half of January. Showings at every price point above $500,000 improved compared to last year. Below $500,000 however, where inventory has not yet recovered, was down 26%. Pricing will continue to be a key factor. The median sale price rose slightly in Q4 in Westchester, making it an all-time high. The market is shifting, and pricing will need to shift with it. In this new market of increasing supply and lower demand, setting a high price and then gradually reducing will result in chasing the market down. In Westchester, homes priced correctly out of the gate sell, on average, in 48 days and at 99.6% of the asking price. Homes priced too high, that experience one or more price reductions spend an average of 328 days on the market and sell for 82.5% of the original list price. Those numbers balloon as you move north away from the city, to as high as 391 days on market and 78.7% of the original list price in Putnam County after price reductions. Interest rates are expected to rise again this year and changes to the tax law are beginning to have an impact on how both buyers and sellers perceive the value of homes. The net result is that sellers in 2019 may have to accept that their home will achieve a selling price that is less than they imagined. Their motivation and willingness to price competitively will drive the market. Houlihan Lawrence remains committed to providing you with meaningful analysis and local knowledge the empowers you to make the best decision possible.

To see the complete report CLICK HERE.

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Weekly Real Estate Update (1/25/19 – 1/31/19)

RYE CITY SCHOOLS (10580)

  • Active Single Family Homes – 83
  • SF Homes in Contract – 9
  • Average Listing Price – $2,860,958
  • Average LP Per SF – $684.06
  • Average DOM – 127 Days
  • Median Listing Price – $2,475,000
  • Sales YTD: 2019 – 11 | 2018 – 8

8 New Single Family Listings in Rye:

  • 43 Mead Place – $825,000
  • 51 Dearborn Avenue – $925,000 HL
  • 101 Bradford Avenue – $995,000
  • 19 Rickbern Street – $1,595,000
  • 35 Orchard Lane – $2,350,000
  • 2 Warriston Lane – $2,900,000 HL
  • 20 Hunt Place – $3,865,000 HLNew Construction
179 Forest Avenue | $3,695,000 | O’Meara Team

3 Price Reductions in Rye

  • 162 Soundview Avenue – $895,000 to $849,000
  • 4 Oakwood Avenue – $1,625,000 to $1,585,000
  • 11 Wilson Drive – $1,995,000 to $1,895,000
  • 945 Forest Avenue – $13,750,000 to $12,500,000

21+ Public Open Houses in Rye This Weekend

RYE NECK SCHOOLS (10580)

  • Active Single Family Homes – 11
  • SF Homes in Contract – 2
  • Average Listing Price – $2,792,455
  • Average LP per SF – $499.64
  • Average DOM – 143 Days
  • Median Listing Price – $1,799,000
  • Sales YTD: 2019 – 0 | 2018 – 0

1 New Single Family Listing in Rye Neck 10580

  • 2 Shore Road – $4,895,000

1 Price Reductions in Rye Neck 10580

  • 27 Lake Road – $1,775,000 to $1,695,000

3+ Public Open Houses in Rye Neck (10580) This Weekend

HARRISON SCHOOLS (10577, 10580, 10528)

  • Active Single Family Homes – 91
  • SF Homes in Contract – 22
  • Average Listing Price – $2,495,861
  • Average LP per SF – $426.80
  • Average DOM – 189 Days
  • Median Listing Price – $2,195,000
  • Sales YTD: 2019 – 8 | 2018 – 14

3 New Single Family Listings in Harrison:

  • 660 Harrison Avenue (10528) – $899,000
  • 1 Sterling Road (10528) – $995,000 HL
  • 21 Ponds Lane (10577) – $1,375,000
  • 6 Highland Park Place (10580) – $1,395,000 HL
  • 91 Park Drive (10580) – $2,750,000 HL

1 Price Reduction in Harrison

  • 12 Hampton Road (10577) – $1,850,000 to $1,795,000

10+ Public Open Houses in Harrison (10580,10528,10577) This Weekend

For more information on any of the above properties or the current real estate market please contact me at jomeara@houlihanlawrence.com.



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132 Wappanocca Avenue | Rye | $5000 | 3 Bdrms | 2.1 Bths | 1350 SqFt

193 Purchase Street Unit 1 | Rye | $4200 | 3 Bdrms | 2.0 Bths | 1604 SqFt
31 Soundview Avenue | Rye | $5800 | 3 Bdrms | 2.1 Bths | 1890 SqFt
199 Purchase Street Unit A \ Rye | $5250 | 6 Bdrms | 2.1 Bths | 1639 SqFt
195 Purchase Street Unit 2 | Rye | $5400 | 4 Bdrms | 2.1 Bths | 1663 SqFt

Contact jomeara@houlihanlawrence.com or mkmetz@houlihanlawrence.com for more information or to set up a showing.



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SAVE THE DATE…Rye Recreation has announced the resident and non-resident registration dates for 2019 summer camps.

Kiddy Camp (ages 3-5) begins online on 2/7 @ 10am
Lower Camp (grades K-2) begins online on 3/21 @ 10am
Upper Camp (grades 3-6) begins 3/21 @ 10am
Camp 78 (grades 7-8) begins 3/7 @ 10am

For more information including camp dates and fees CLICK HERE or visit the WEBSITE.

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Weekly Real Estate Update (1/18/19 – 1/24/19)

RYE CITY SCHOOLS (10580)

  • Active Single Family Homes – 76
  • SF Homes in Contract – 9
  • Average Listing Price – $2,981,520
  • Average LP Per SF – $687.95
  • Average DOM – 134 Days
  • Median Listing Price – $2,522,500
  • Sales YTD: 2019 – 9 | 2018 – 5

4 New Single Family Listings in Rye:

  • 217 Oakland Beach Avenue – $1,199,000
  • 45 Oakland Avenue – $1,429,500 HL
  • 4 Oakwood Avenue – $1,625,000
  • 51 Centre Street – $2,995,000

3 Price Reductions in Rye

  • 125 Wappanocca Avenue – $899,000 to $799,000
  • 3 Hidden Spring Lane – $2,395,000 to $2,275,000
  • 310 Stuyvesant Avenue – $8,950,000 to $8,750,000

28 Public Open Houses in Rye This Weekend

RYE NECK SCHOOLS (10580)

  • Active Single Family Homes – 11
  • SF Homes in Contract – 1
  • Average Listing Price – $2,591,091
  • Average LP per SF – $493.99
  • Average DOM – 152 Days
  • Median Listing Price – $1,799,000
  • Sales YTD: 2019 – 0 | 2018 – 0

2 New Single Family Listings in Rye Neck 10580

  • 12 Brevoort Lane – $1,269,000 HL
  • 5 Norman Drive – $1,799,000 HL

0 Price Reductions in Rye Neck 10580

4 Public Open Houses in Rye Neck (10580) This Weekend

HARRISON SCHOOLS (10577, 10580, 10528)

  • Active Single Family Homes – 87
  • SF Homes in Contract – 24
  • Average Listing Price – $2,548,958
  • Average LP per SF – $421.99
  • Average DOM – 187 Days
  • Median Listing Price – $2,195,000
  • Sales YTD: 2019 – 5 | 2018 – 8

3 New Single Family Listings in Harrison:

  • 94 Sterling Road (10528) – $1,365,000
  • 5 Pheasant Drive (10580) – $1,450,000 HL
  • 14 Westerleigh Road (10577) – $1,595,000

3 Price Reductions in Harrison

  • 25 Ellsworth Avenue (10528) – $789,000 to $769,000
  • 89 Grove Street (10528) – $900,000 to $875,000
  • 42 Bellevue Avenue (10580) – $3,400,000 to $3,250,000

12 Public Open Houses in Harrison (10580,10528,10577) This Weekend

For more information on any of the above properties or the current real estate market please contact me at jomeara@houlihanlawrence.com.



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It was announced today that there will be a Community Forum on March 2nd at Rye Middle School to discuss the Capital Bond Proposal. For more information about this event please visit the Rye School District Website.

On March 12th, the $79.99 million Capital Bond Proposal will be put before voters. According to the Rye School district website…”As part of The Rye Commitment, the Administration and Board of Education have spent the last few years planning the strategic direction necessary to continue to support the delivery of an outstanding education for all students in the Rye City School District.  It’s time to invest in our aging buildings and transform them into healthier, more secure, educational spaces that support current best instructional practices while preparing students for success in a rapidly evolving economy. “

For more information on the proposal CLICK HERE.

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