Hot Real Estate Market in Scarsdale, New York

Are you in the market for a home in the Scarsdale, New York school district?  It is a hot real estate market in Scarsdale, New York right now.  This is not surprising, every year New Yorkers move out of their condo or co-op in search for more space in Westchester.  Probably the first place that comes to mind is Scarsdale with its reputation for having one of the top school districts in New York.  Buyers want to move to the Scarsdale School district making homes in Scarsdale in high demand.

SCARSDALE Homes are selling fast

Homes are selling fast so be sure to act quickly.  The average days on market for single family homes in Scarsdale is 87 days.   In the past 6 months, homes in Scarsdale have sold as fast as 3 days with multiple offers and cash buyers.  For example, 19 Old Lyme Road, Scarsdale, NY sold in 3 days at 13% over asking price to a cash buyer for $1,185,000.

Spring Real Estate market is here

It is a good time for buyers to be shopping for a home in Scarsdale right now.  Although the weather is still cold and it does not feel like Spring.  The spring market has begun, new listings are coming in.  In fact, 63 new single family listings came on the market in March 2018.  Currently, there are 6.5 months supply of single family homes in Scarsdale.  This is an indication that it is more or less a balanced market, inventory is plentiful and buyers are not out in full force yet.  So you will be at an advantage if you are home shopping now.

SCARSdale Homes are priced well

Homes have been selling close to asking price with an average discount of 2.2%.  This is an indication that homes are priced well.  It is also not surprising to see this data because there are many multiple offer situations and often times homes are sold over asking price.  The median sales price for Single Family homes in the Scarsdale School District is $1,635,000.

The key take-aways from this data is that if you are interested in buying a home in the Scarsdale School district.  I suggest you start looking now, act quickly and don’t expect to get a big discount from asking price.

Data Source- HGMLS data for the past 12 months ending March 2018 for Scarsdale School District.

 

 

Share: