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EXECUTIVE SUMMARY (Excerpt) by Stephen Meyers (CEO) and Chris Meyers (President)

The real estate markets in the suburbs north of New York City finished the first quarter of 2019 with generally slower sales and higher inventory in most markets, signaling a clear opportunity for home buyers. The sale of single family homes in Westchester County declined by 5% in the first quarter, following a decline of 5% in fourth quarter 2018. Cost per square foot dipped below $300 this quarter, the first time since 2013. The supply of homes for sale up to $2.5M grew, giving buyers a bit more selection in an inventory constrained price range. Most communities experienced declines with the exception of Lower Westchester. An uptick in Bronxville and Scarsdale contributed to a 14% increase in homes sold. Westchester’s condo and coop markets are largely unchanged and the appeal of multi-family living remains strong. These markets are buoyed by two significant groups of buyers – downsizers and first time homebuyers –wanting the same product. Convenience, access to transportation and vibrant downtown areas are consistently on their wish list.

The number of buyers originating from NYC has fallen as the market in NYC has softened, negatively impacting our markets. Many NYC buyers have homes to sell before they can actively bid and transact on a new home. They have the motivation to move north, but not the ability to make a purchase. Tax reform has affected our markets especially in Westchester County. Of the near 1,000 homes that sold in Westchester in the first quarter, over 80% had property taxes $10,000 and higher. The average property tax bill was $21,000, and the highest was $131,000. We have some headwinds to manage – namely the effects of tax reform and a challenging luxury market. Our proximity to NYC, energetic neighborhoods and unmatched community amenities make living north of NYC desirable and exciting. The spring market was slow to start and activity has picked up the past six weeks. Interest rates are low, the stock market is healthy and employment – and our optimism for the second quarter – is growing.

To see the full summary and report CLICK HERE.



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Weekly Real Estate Update (4/26/19 – 5/2/19)

RYE CITY SCHOOLS (10580)

  • Active Single Family Homes – 132
  • SF Homes in Contract – 42
  • Average Listing Price – $2,698,212
  • Average LP Per SF – $662.77
  • Average DOM – 89 Days
  • Median Listing Price – $2,312,500
  • Sales YTD: 2019 – 24 | 2018 – 44

12 New Single Family Listings in Rye:

  • 162 Soundview Avenue – $765,000
  • 347 Oakland Beach Avenue – $1,399,000
  • 57 Highland Road – $1,780,000 HL
  • 11 Wilson Drive – $1,895,000
  • 7 Robert Crisfield Place – $2,150,000 HL
  • 10 Graham Court – $2,195,000 HL
  • 97 Fairway Avenue – $2,325,000 HL
  • 10 Stoneycrest Road – $2,525,000 HL
  • 36 Hix Avenue – $3,275,000
  • 1 Barron Place – $4,195,000 HL
  • 4 Philips Lane – $7,195,000 New Construction
70 Hewlett Avenue | $3,895,000 | O’Meara Team| New Construction

15 Price Reductions in Rye

  • 162 Soundview Avenue – $765,000 to $749,000
  • 51 Dearborn Avenue – $925,000 to $899,000
  • 10 Newberry Place – $1,199,000 to $1,165,000
  • 45 Oakwood Avenue – $1,375,000 to $1,327,500
  • 11 Howard Place – $1,775,000 to $1,695,000 New Construction
  • 6 Indian Hill Road – $1,775,000 to $1,695,000
  • 10 Roger Sherman Place – $1,789,000 to $1,694,000
  • 140 Grace Church Street – $2,175,000 to $2,095,000
  • 10 Florence Avenue – $2,295,000 to $2,195,000 New Construction
  • 40 Hughes Avenue – $2,595,000 to $2,495,000 New Construction
  • 2 Warriston Lane – $2,900,000 to $2,850,000
  • 5 Ellen Court – $2,975,000 to $2,875,000
  • 133 Grandview Avenue – $2,995,000 to $2,875,000
  • 6 S. Manursing Island Road – $5,325,000 to $5,095,000
  • 855 Forest Avenue – $5,750,000 to $5,495,000 New Construction

31 Public Open Houses in Rye This Weekend

RYE NECK SCHOOLS (10580)

  • Active Single Family Homes – 19
  • SF Homes in Contract – 3
  • Average Listing Price – $2,271,416
  • Average LP per SF – $489.25
  • Average DOM – 89 Days
  • Median Listing Price – $1,899,900
  • Sales YTD: 2019 – 3 | 2018 – 5

2 New Single Family Listings in Rye Neck 10580

  • 5 Harbor Lane – $1,550,000
15 Johnson Place | $2,195,000 | O’Meara Team

2 Price Reductions in Rye Neck 10580

  • 29 Chester Drive – $1,499,000 to $1,449,000
  • 32 Norman Drive – $2,195,000 to $1,999,998

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

HARRISON SCHOOLS (10577, 10580, 10528)

  • Active Single Family Homes – 119
  • SF Homes in Contract – 35
  • Average Listing Price – $2,288,880
  • Average LP per SF – $407.85
  • Average DOM – 143 Days
  • Median Listing Price – $1,899,000
  • Sales YTD: 2019 – 35 | 2018 – 38

11 New Single Family Listings in Harrison:

  • 107 Old Lyme Road (10577) – $809,900
  • 16 Pinehurst Drive (10577) – $999,000
  • 5 Union Avenue (10528) – $1,200,000
  • 38 Rolling Hills Lane (10528) – $1,295,000
  • 20 Genesee Trail (10528) – $1,395,000 HL
  • 201 Union Avenue (10528) – $1,459,900 HL
  • 4 Union Avenue (10528) – $1,599,000 HL
  • 3 Parkside Court (10577) – $1,585,000
  • 519 Woodlands Road (10528) – $1,879,000
  • 16 Homestead Place (10528) – $2,350,000 HL
  • 40 Polly Park Road (10580) – $4,750,000

10 Price Reductions in Harrison

  • 26 Old Lyme Road (10577) – $969,000 to $939,000
  • 79 Highfield Road (10528) – $1,349,000 to $1,299,000
  • 11 Bates Road (10528) – $1,475,000 to $1,399,000
  • 8 Shawnee Trail (10528) – $1,625,000 to $1,495,000
  • 11 Flagler Drive (10580) – $2,350,000 to $2,150,000
  • 124 Haviland Road (10528) – $2,395,000 to $2,195,000
  • 12 Windsor Court (10577) – $2,695,000 to $2,599,000
  • 11 Lincoln Lane (10577) – $2,995,000 to $2,699,000
  • 8 Pilgrim Road (10580) – $3,250,000 to $3,175,000
  • 39 Winfield Avenue (10528) – $3,495,000 to $2,990,000

19 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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Weekly Real Estate Update (4/19/19 – 4/25/19)

RYE CITY SCHOOLS (10580)

  • Active Single Family Homes – 132
  • SF Homes in Contract – 42
  • Average Listing Price – $2,755,398
  • Average LP Per SF – $669.17
  • Average DOM – 93 Days
  • Median Listing Price – $2,347,500
  • Sales YTD: 2019 – 20 | 2018 – 38

8 New Single Family Listings in Rye:

  • 1 Garden Drive – $650,000 HL
  • 55 Meadow Place – $1,375,000
  • 12 Sharon Lane – $1,495,000
  • 141 Soundview Avenue – $1,925,000
  • 138 Oakland Beach Avenue – $1,975,000
  • 85 Fairway Avenue – $2,795,000 HL
  • 115 Drake Smith Lane – $5,295,000
30 Centre Street | $2,595,000 | O’Meara Team at HL

4 Price Reductions in Rye

  • 21 Brookdale Place – $875,000 to $825,000
  • 20 Vale Place – $1,199,000 to $1,169,000
  • 101 Glen Oaks Drive – $2,195,000 to $2,095,000
  • 110 Hix Avenue – $2,695,000 to $2,595,000

42 Public Open Houses in Rye This Weekend

RYE NECK SCHOOLS (10580)

  • Active Single Family Homes – 17
  • SF Homes in Contract – 4
  • Average Listing Price – $2,332,759
  • Average LP per SF – $485.09
  • Average DOM – 93 Days
  • Median Listing Price – $1,899,900
  • Sales YTD: 2019 – 2 | 2018 – 5

0 New Single Family Listings in Rye Neck 10580

0 Price Reductions in Rye Neck 10580

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

HARRISON SCHOOLS (10577, 10580, 10528)

  • Active Single Family Homes – 114
  • SF Homes in Contract – 31
  • Average Listing Price – $2,297,630
  • Average LP per SF – $411.21
  • Average DOM – 145 Days
  • Median Listing Price – $1,980,000
  • Sales YTD: 2019 – 34 | 2018 – 35

4 New Single Family Listings in Harrison:

  • 43 Park Avenue (10528) – $635,000
  • 24 Harwich Lane (10577) – $899,000 HL
  • 11 Puritan Road (10580) – $1,695,000
  • 519 Woodlands Road (10528) – $1,879,000

5 Price Reductions in Harrison

  • 107 Old Lyme Road (10577) – $850,000 to $809,900
  • 16 Sunset Lane (10528) – $1,225,000 to $1,199,000
  • 12 Hampton Road (10577) – $1,699,000 to $1,649,000
  • 18 Lakeside Drive (10580) – $1,725,000 to $1,695,000
  • 39 Winfield Avenue (10528) – $3,495,000 to $2,990,000

20 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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1st Quarter 2019 Executive Summary – Luxury Market Report
by Anthony Cutugno (Senior Vice President/Director of Private Brokerage):

Over the past 6 months, the number of luxury home sales North of NYC experienced a decline of 33%. Westchester County (sales $2M and higher) suffered the steepest drop – down 38%. There is no isolated incident that accounts for losses, but rather a confluence of events that negatively impact our markets and effectively shrinks the number of luxury buyers north of NYC. The real estate market in NYC has softened resulting in fewer buyers leaving the city to head north because their apartments remain unsold. This important feeder market was robust just 18 months ago. Condos, coops and town-homes appreciated in value, sold quickly, and reliably drove buyers leaving the city to our area. Now listings are sitting on the market longer as inventory grows, selling for less than expected. As the market leader, Houlihan Lawrence tracks where buyers come from and our data indicates a 40% decline this year in the number of NYC buyers moving to the suburbs compared to same period last year.

As NYC finds its footing in a changing real estate market, this April marks the first tax season with new tax laws. Homeownership is now more costly without property tax deductibility, especially in NY which has among the highest property taxes in the country. Consequently, many would-be move-up buyers – another important segment for the luxury market – are now more likely to stay in their current home than trade-up to a bigger and more expensive property. Instead, they may add an extra bedroom or renovate their kitchen rather than assume higher property taxes, a larger mortgage and increased maintenance costs. Tax reform has also pushed some residents of NY and CT to strategically relocate to more tax-friendly states. Low-tax states such as Florida, Texas and North Carolina gained the most population in 2018.

Sharp declines in the market represent an opportunity for savvy buyers. Deals are coming together albeit at lower prices with sellers who meet the market. Luxury buyers have high standards – they want a turnkey property that represents value. Razor sharp pricing and impeccable presentation are the best tools a seller has to attract buyers actively in the market. Houlihan Lawrence participated in 71% of all luxury transactions in the first quarter and our pulse on the market is reliable. Our agents are busy and we are anticipating deals will come together at a faster pace in the second quarter than these past six months. Continued confidence in the economy is evident in the rebounding stock market and stable interest rate environment. The spring market had a late start and the next eight weeks will be pivotal during this important selling season.

To view full report CLICK HERE.

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Weekly Real Estate Update (3/29/19 – 4/4/19)

RYE CITY SCHOOLS (10580)

  • Active Single Family Homes – 125
  • SF Homes in Contract – 32
  • Average Listing Price – $2,786,264
  • Average LP Per SF – $671.29
  • Average DOM – 93 Days
  • Median Listing Price – $2,395,000
  • Sales YTD: 2019 – 16 | 2018 – 31

18 New Single Family Listings in Rye:

  • 22 Park Lane – $849,000
  • 20 Vale Place – $1,199,000
  • 2 Belmont Avenue – $1,245,000
  • 15 Walker Avenue – $2,095,000 HL
  • 1 Robert Crisfield Place – $2,195,000
  • 496 Milton Road – $2,300,000 New Construction
  • 39 Brookdale Place – $2,395,000 New Construction
  • 7 Lea Place – $2,395,000
  • 4 Walker Avenue – $2,475,000 New Construction
  • 185 Milton Road – $3,295,000
  • 20 Hunt Place – $3,650,000 New Construction
  • 453 Park Avenue – $3,695,000
  • 415 Grace Church Street – $4,395,000
  • 55 Island Road – $4,845,000
  • 74 Island Drive – $6,900,000
  • 2 Sunset Lane – $7,500,000
751 Forest Avenue | $2,975,000 | Joan O’Meara
6 indian Hill Road | $1,775,000 | Joan O’Meara

9 Price Reductions in Rye

  • 162 Soundview Avenue – $795,000 to $765,000
  • 10 Newberry Place – $1,239,000 to $1,199,000
  • 110 Allendale Drive – $1,415,000 to $1,375,000
  • 9 Eldredge Court – $1,695,000 to $1,595,000
  • 101 Glen Oaks Drive – $2,295,000 to $2,195,000
  • 7 Robert Crisfield Place – $2,395,000 to $2,295,000
  • 2 Parsonage Point Place – $4,695,000 to $4,195,000
  • 289 Grace Church Street – $4,825,000 to $4,495,000
  • 855 Forest Avenue – $5,995,000 to $5,750,000

32 Public Open Houses in Rye This Weekend

RYE NECK SCHOOLS (10580)

  • Active Single Family Homes – 17
  • SF Homes in Contract – 3
  • Average Listing Price – $2,044,235
  • Average LP per SF – $456.91
  • Average DOM – 99 Days
  • Median Listing Price – $1,739,000
  • Sales YTD: 2019 – 1 | 2018 – 3

3 New Single Family Listings in Rye Neck 10580

  • 66 Boston Post Road – $1,195,000 HL
  • 5 Sunset Road – $1,450,000 HL
  • 33 Johnson Place – $2,550,000

2 Price Reductions in Rye Neck 10580

  • 12 Brevoort Lane – $1,269,000 to $1,195,000
  • 32 Norman Drive – $2,295,000 to $2,195,000

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

HARRISON SCHOOLS (10577, 10580, 10528)

  • Active Single Family Homes – 114
  • SF Homes in Contract – 27
  • Average Listing Price – $2,317,837
  • Average LP per SF – $411.31
  • Average DOM – 146 Days
  • Median Listing Price – $1,994,500
  • Sales YTD: 2019 – 27 | 2018 – 31

7 New Single Family Listings in Harrison:

  • 16 Sunset Lane (10528) – $1,225,000
  • 11 James Road (10528) – $1,425,000 HL
  • 238 Osborn Road (10528) – $1,695,000
  • 6 Manhattan Avenue (10580) – $2,750,000
  • 24 Stratford Road (10528) – $3,166,000
  • 6 Taylor Lane (10528) – $3,695,000 HL
  • 1 Osborn Road (10528) – $4,649,000

7 Price Reductions in Harrison

  • 660 Harrison Avenue (10528) – $829,000 to $779,000
  • 35 New Street (10577) – $899,000 to $875,000
  • 12 Pinehurst Drive (10577) – $949,000 to $919,000
  • 21 Ponds Lane (10577) – $1,375,000 to $1,325,000
  • 621 West Street (10528) – $1,549,000 to $1,495,000
  • 133 Wendover Road (10580) – $1,749,000 to $1,695,000
  • 6 Stoneleigh Manor Lane (10577) – $3,995,000 to $3,695,000

17 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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19 AUGUSTA COURT – Purchase, New York
$1,985,000 | 6 Bdrms | 6.1 Bths | 5,500 Sq Ft | 1.1 Acres

Classic styling designed for the highest standard of luxury living. This well-appointed and impeccable 200 center-hall Colonial features a dramatic 2-story entry hall, formal living and dining rooms, office/den, first floor bedroom/bath and state of the art kitchen opening to a stunning family room with cathedral ceiling, floor-to-ceiling stone fireplace and doors to deck. Powder room, laundry room, mudroom and access to three-car garage complete the first level.

Enviable master bedroom suite features sitting room, office, three walk-in closets and luxurious bathroom. Finished lower lever provides an additional 1,700 square feet of living space and boasts a spacious recreation room with wet bar, playroom, gym, bedroom, full bath, storage and doors to back yard. Distinctive architectural features include custom mill-work, high ceilings, arched doorways, interior columns and built-ins. Sited on 1.1 professionally landscaped and park-like acre with large deck. This home will certainly exceed your expectations!



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Houlihan Lawrence is the #1 real estate brokerage in Westchester County! Powered by HomeServices of America since 2017, Houlihan Lawrence is part of a national network of market-leading companies that has just secured the top spot in the real estate industry for the first time.

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