2014 Market UpdateHappy New Year!


First, I would like to thank everybody who has helped me grow my business - 2014 was an excellent year! I helped a record number of families relocate. As many of you know, one of my main goals is to give my industry a better name by providing excellent customer service and in-depth market knowledge. I would love to help more families this year, so please keep the referrals coming!


In terms of the real estate market, 2014 was a good year. To sum it up, the number of sales were flat year-over-year but selling prices were up about 5%. When you look at individual areas, the numbers vary quite a bit. Below are some charts with data broken out (mostly) by school district.


Some highlights:


  • 2014’s highest sale was $27,500,000 in Armonk (a 17,000 sq. ft. house on 32 acres)

  • Edgemont saw the number of sales increase 13% year-over-year with a 20% increase in median sales price (and +10% for the average sales price)

  • Rye City witnessed the number of sales drop by almost 20% but median sales price increased by 23%

  • Scarsdale had a 6% increase in the number of sales and selling prices increased by 15%

  • White Plains saw a 4% drop in the number of sales but prices were up about 8%


While there are many buyers in this marketplace, there continues to be a lack of well priced homes. I hear complaints from buyers on an almost-daily basis about this problem. Sellers who price their homes above market value are making a big mistake - at the wrong price, not only will they get less traffic, but they will get fewer (if any) bids. Buyers are sophisticated and most are patient; they simply don’t want to deal with sellers who think they have something better than they actually do.