Bronxville Annual Report 2021

3 B EECHWOOD ROAD BRONXVILLE

IN WITH THE BEST

Bronxville Brokerage 2 0 2 1 A N N U A L R E A L E S TAT E R E P O R T

4 FORDAL ROAD BRONXVILLE

Dear Neighbors, Happy New Year!

While many of us had expected to end 2021 with Covid in the rearview mirror, the development of Omicron has given rise to an eerily similar start to the New Year. Two hallmarks of the real estate market that continued to develop throughout 2021 in Bronxville were exceptionally low inventory and increasingly high buyer demand across all property types. We continued to see people re-evaluate their work lifestyle as remote and hybrid plans became more of a long-term reality than an interim response to the Virus. As a result, buyers were looking for more living space to accommodate home offices, home gyms, and additional family members. Bronxville’s unique appeal continued to distinguish it from other suburban communities thanks to its walkability, vibrant downtown, first class services and highly rated school district. While many schools in NYC were remote last year, the Bronxville School quickly implemented safety features to ensure our K-12 students would be in the classroom. As NYC opened up again, Bronxville’s desirable proximity to the City proved, yet again, to be a driving factor for buyers #NorthofNYC. Our forecast for 2022: Mortgage rates are expected to continue to rise. As a result, buyers will have to re-examine affordability. With that said, a prolonged lack of inventory and an increase of pent-up demand will once again remain positive factors for sellers as we progress into 2022.

With our consistently charming house stock, our premier outdoor dining options and boutique shopping, Bronxville remains uniquely appealing and will continue to be a destination town.

Village Single Family Detached home sales were down slightly from 2020 with 59 units closing in 2021, a figure not seen since 2013. The 62 homes sold in 2020 was a difficult number to beat as it was perhaps one of the largest number of closings in memory. We ended 2021 with an almost 86% increase over 2020 in pending sales. Sales in the $3MM+ range were up 44%.

The end of 2021 was marked by exceptionally low inventory with 55% of the available inventory over $5MM. The average price per square foot rose 11% to $646 from $581, recovering from the downward trend of the past 3 years. The median sale price continued its ascent from 2020 levels with help from a 50% increase in the number of sales over $3MM. Houlihan Lawrence represented the only listings to sell over $5MM in 2021.

Village Townhouse sales decreased 31% to 9 units sold vs. 13 in 2020. HL agents listed 67% of the units sold. The median sale price was up 7% to $1,175,000. The average price per square foot rose over 9% to $694 vs $635 in 2020. All units sold were in the sweet spot of $1MM-1.5MM, apart from 1 which closed at $1,525,000.

Village Cooperatives experienced a significant increase in units sold with 35 units closed in 2021 vs. 27 in 2020, a notable upturn of almost 30%! Most of this increase occurred in the under $700K category which accounted for 57% of the units. The median sales price declined 11% to $625,000 fully reversing the upward trend we experienced in 2020.

Bronxville PO/Yonkers in 2021, the number of sales leveled off at 70 units, a slight decrease of 3% over 2020 which saw an astounding increase of 71% over the prior year. The median sale price continued its ascent up 11% to $869,750, although that marked increase can be attributed to the Houlihan Lawrence sale of a magnificent $7MM estate.

Bronxville PO/Tuckahoe while the number of units sold in 2021 decreased slightly to 34, the average price per square foot rose 5% to $376. The median sale price was $925,000, an over 8% increase versus 2020 thanks to a couple of sales at $2,200,000 and $2,675,000.

The Fleetwood area of Mount Vernon (10552) experienced a rise in sales in 2021 with 95 closed units, an increase of 11% versus 86 in 2020.The median sale price rose slightly to $660,000. The average price per square foot increased 7% to $292.

Sincerely, Your Houlihan Lawrence Bronxville Team

HOULIHAN LAWRENCE — THE MARKET LEADER THE MARKET EXPERT In the KNOW.

2021 Market Share Bronxville School District S I N G L E F A M I LY H O M E S

51

%

TO W N H O U S E S

60

%

C O O P E R AT I V E A N D C O N D O M I N I U M

44

%

Bronxville P.O/Yonkers S I N G L E F A M I LY H O M E S

27

%

Bronxville P.O/Tuckahoe S I N G L E F A M I LY H O M E S

17

%

Source:. OKMLS, 1/1/21-12/31/21, total dollar volume sold Single Family homes detached, Bronxville School District, by office. OKMLS, 1/1/2112/31/21, total dollar volume sold single family homes attached, Bronxville School District, by office. OKMLS, 1/1/21-12/31/21, total dollar volume sold Cooperatives, Bronxville School District, by office. OKMLS, 1/1/2112/31/21, total dollar volume sold Single Family homes, Bronxville PO/ Yonkers, by office. OKMLS, 1/1/21-12/31/21, total dollar volume sold Single Family homes, Bronxville PO/Tuckahoe, by office.

BRONXVILLE SCHOOL DISTRICT M10 A RYear K E TMarket O V E R VHistory IEW S I N G L E F A M I LY H O M E S – D E TA C H E D

Homes Sold Full Year

1 0 Y E A R M A R K E T H I S TO RY $3,000,000

130

MEDIAN SALES PRICE

120 $2,350,000

$2,337,500

$2,190,000 $1,975,000

$2,100,000

$2,009,500

$2,375,000

110 100

$1,950,000

90 80

61

$1,500,000

60

62

57

58 45

70

59

60

49

42

50

$1,000,000

39

40 30

$500,000

NUMBER OF HOMES SOLD

$2,455,000

$2,500,000

$2,000,000

$2,605,000

20 10

0

UNITS SOLD

M MEDIAN PRICE

AVERAGE PRICE/SF

0

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

61

60

58

45

42

49

39

57

62

59

$1,950,000

$2,337,500

56%

$1,975,000

6%

2%

$2,009,500

$562

2%

3%

$2,190,000

9%

$622

14%

$621

11%

22%

7%

$2,455,000

12%

$685

$2,605,000

6%

$670

10%

2%

20%

17%

$2,350,000

10%

$2,100,000

11%

$670

2%

46% 7%

$649

$590

3%

9%

9% 20%

$581

2%

5%

$2,375,000

2%

$646

11%

Source: OKMLS 2012-2021, Single Family homes detached, Bronxville School District.

LISTED & SOLD BY HOULIHAN LAWRENCE

18 GLADWIN PLACE, BRONXVILLE

BRONXVILLE SCHOOL DISTRICT

$5,050,000

<$1M

SOLD BY PRICE POINT 2021 - 59 Sales 2020 - 62 Sales

3 5 P R E S C O T T AV E N U E , B R O N X V I L L E

29%

Source: OKMLS, 1.1.21-12.31.21 vs. 1.1.20-12.31.20, single-family homes-detached, Bronxville School District.

$2M - $3M

$3M - $4M

11%

53%

31% 1.7%

$1M - $2M

$4,275,000

44%

22%

$4M+

5% 3.4%

A SELEC TION OF AC TIVE LISTINGS S I N G L E F A M I LY H O M E S

L I V I N G AT I T S F I N E S T ! $ 2 , 9 5 0 , 0 0 0

Web# BB2890232 | Bronxville

TUDOR MANSION WEB# BB2863542 | Bronxville | $5,480,000

MAGNIFICENT HOME

L E W I S B O W M A N T U D O R $ 3 , 6 9 5 , 0 0 0

WEB# BB2832542 | Bronxville

$ 2 , 4 9 5 , 0 0 0 E X T E N S I V E LY U P G R A D E $ 2 , 3 5 0 , 0 0 0 P E R F E C T R E T R E AT

WEB# BB2862952 | Bronxville PO/Tuckahoe

WEB# BB2883232 | Bronxville

WEB# BB2863252 | Bronxville

$ 2 , 2 7 5 ,0 0 0 FA R M H O U S E CO LO N I A L $ 1 , 6 4 5 ,0 0 0

WEB# BB2886862 | Bronxville PO/Yonkers

CO-OPS & CONDOS

PRESTIGIOUS VILLA

$2,800,000

WEB# BB2875302 | Bronxville

LUXURIOUS OPPORTUNITY WEB# BB2888132 | Bronxville | $4,900,000

LUXURIOUS LIVING

WEB# BB2864262 | Bronxville

$ 1 , 4 7 5 , 0 0 0 P R A C T I C A L L AYO U T

WEB# BB2887252 | Bronxville

S PA C I O U S F L O O R P L A N $ 1 , 9 9 5 , 0 0 0

WEB# BB2884352 | Bronxville

$ 8 9 9, 0 0 0 P R I VAT E A N D S E C L U D E D $ 8 4 5 , 0 0 0 SOHO ME E TS B RO N X V I L L E

WEB# BB2868992 | Bronxville

WEB# BB2888692 | Bronxville

4 V A L L E Y R O A D B R O N X V I L L E , N Y 1 0 7 0 8

$ 69 5,000

9 1 4 . 3 3 7. 0 4 0 0

BRONXVILLE SCHOOL DISTRICT SALES S I N G L E F A M I LY H O M E S

15 Kensington Road Unit 208

1 Woodland Avenue

11 Hemlock Road

132 Pondfield Road Unit 6b

9 Beverly Road

16 Courseview Road

15 Kensington Road Unit 216

24 Normandy Terrace

39 Dusenberry Road

15 Kensington Road Unit 206

152 Pondfield Road

87 Parkway Road

64 Sagamore Road Unit F6

25 Meadow Avenue

16 Park Avenue

15 Kensington Road Unit 104

16 Hobart Street

241 Pondfield Road

15 Kensington Road Unit 215

120 Midland Avenue

3 Elm Rock Road

1 Cedar Street Unit 4c

46 Summit Avenue

10 Plateau Circle

1 Eastbourne Unit 4b

11 Sussex Avenue

61 Sagamore Road

1 Westbourne Unit 4c

5 Park Avenue

10 Courseview Road

25 Sagamore Road Unit 4g

27 Normandy Terrace

16 Sunny Brae Place

48 Sagamore Road Unit 25

115 White Plains Road

29 Sturgis Road

7 Midland Gardens Unit 4-O

38 Elm Rock Road

20 Hobart Street

2 Midland Gardens Unit 5b

26 Valley Road

136 Park Avenue

54 Sagamore Road Unit 3e

80 Tanglewylde Avenue

28 Valley Road

1 Westbourne Unit 5a

1 Pine Terrace

19 Middle Road

133 Pondfield Road Unit 2b

18 Gladwin Place

2 Paddington Circle

72 West Pondfield Road Unit 3d

12 Eastway

14 Field Court

4 Alden Place Unit3d

28 Avon Road

18 Kraft Avenue

23 Sagamore Road Unit 3f

1 Elm Lane

4 Westway

5 Tanglewylde Avenue Unit 4f

6 Leonard Road

84 Summit Avenue

3 Stoneleigh Unit 1-O

6 Village Lane

1 Governors Road

1 Eastbourne Unit 3b

16 Crawford Street

38 Forest Lane

40 Dusenberry Road

35 Prescott Avenue

349 Pondfield Road

3 Edgewood Lane

26 Elm Lane

ON THE COVER

3 B E EC H WO O D ROA D WEB# BB2890072 | Bronxville | $3,995,000

4 F O R DA L R OA D WEB# BB2862232 | Bronxville | $7,750,000

OKMLS, 1/1/2020 - 12/31/2020, sales in which Houlihan Lawrence participated in the list side, sale side or both.

A DDITION A L HOM E S SOLD I N 2021 BY HOU LI H A N L AW R ENCE B RONX V I LLE We’re more than just the Village.

B R O N X V I L L E P O / YO N K E R S 186 Boulder Trail 68 Cedar Lane 67 Eton Road 900 Palmer Road Unit 9d 250 Bronxville Road Unit 5c 141 Millard Avenue 465 Castle Street 18 Dewitt Avenue 162 Ellison Avenue 99 Bronxville Road 246 Bronxville Road Unit H2 824 Palmer Road Unit 3c 900 Palmer Road Unit 4b 33 Bayberry Street 157 Chatfield Road 1340 Midland Avenue Unit 4a 140 Ellison Avenue 27 Carlton Road 270 Bronxville Road Unit B21 38 Dellwood Road 46 Wildway 251 Pondfield W 1 Sunnybrook Road Unit 2d 830 Palmer Road Unit 3b 25 Dellwood Circle 54 Dellwood Circle 45 Pondfield West Road Unit 2a 250 Bronxville Road Unit 3i 1 Brooklands Unit 1b 270 Bronxville Road Unit A42 1 Illinois Avenue Aka 58 Bronxville Road 129 Dellwood Road 28 Sunnybrook Road 247 Parkview Avenue Unit 5p 65 Durham Road Unit 1h 61 Rockledge Road Unit 2g 61 Rockledge Road Unit 1e 81 Aka 80 Wild Way 19 Bayberry Street 5 Wellyn Close 242 Bronxville Road Unit D4 120 Birchbrook Road 294 Bronxville Road Unit 3e 15 Aka 27 Chatfield Road 240 Bronxville Road Unit A2 294 Bronxville Road Unit 2d 85 Rockledge Road 1 Bronxville Road Unit 2k 35 Parkview Avenue Unit 2h 93 Rockledge Road 949 Palmer Road Unit 5g 1328 Midland Avenue Unit 1c 12 Blair Street YO N K E R S 611 Palmer Road Unit 4w 615 Palmer Road Unit 703 44 Hilltop Acres Unit 44 540 Tuckahoe Road Unit 5a

1841 Central Park Avenue Unit 5g 377 N Broadway Unit 712 164 Homewood Avenue 35 Albemarle Place 43 Mangrove Road 52 Prospect Drive 1 Primrose Avenue 30 Iroquois Road 701 Ridge Hill Blvd Unit 6f 701 Ridge Hill Blvd Unnit 7f 701 Ridge Hill Blvd Unit 4f BRONXVILLE PO/ MOUNT VERNON 20 Alden Place Unit 1 MOUNT VERNON 2 Park Lane Unit 5d 590 E Third Street Unit 1n 472 Gramatan Avenue Unit Aa1 61 W Grand Street Unit 4k 19 William Street Unit 3b 19 William Street Unit 2c 19 William Street Unit 4c 2 Park Lane Unit 5e 33 E Grand Street Unit C1b 60 W Broad Street Unit 3m 3 Park Lane Unit 4b 600 Locust Street Unit 2g 2 Park Lane Unit 6c 590 E Third Street Unit 4j 590 E Third Street Unit 5d 4 Park Lane Unit 5a 3 Park Lane Unit 4e 11 Parkway East 18 Eastfield Road 50 Palmer Avenue 61 Brookfield Road 7 Overhill Road 794 Gramatan Avenue 22 Denman Place 69 Central Parkway 140 Douglas Place 580 N Columbus Avenue 65 Vernon Parkway 321 Central Parkway 271 Claremont Avenue 319 N Fulton Avenue 155 East Sidney Avenue BRONXVILLE PO/TUCKAHOE 4 Hathaway Road 122 Park Avenue 62 Archer Drive 120 Park Avenue 12 Rittenhouse Road 1 Ridge Road 9 Central Drive 427 California Road 39 Crawford Street

130 Elmsmere Road T U C K A H O E P.O. 21 Fairview #326 205 White Plains Road 214 Midland Avenue 212 Midland Avenue 225 White Plains Road 230 White Plains Road 7 Thompson Street 85 Lincoln Avenue 2 Hollywood Avenue E 74 Oakland Avenue 329 Scarsdale Road 287 Crestwood Avenue 50 Columbus Avenue Unit A21 50 Columbus Avenue Unit D21 B R O N X V I L L E P.O. / E A S TC H E S T E R 629 CALIFORNIA ROAD BRONX 601 Pelham Parkway N Unit 407 55 E 190 Street Unit 35 601 Pelham Parkway N Unit 610 1855 Grand Concourse Unit 3 601 Pelham Parkway N Unit 417 340 E Mosholu Parkway S Unit 6a 1855 Grand Concourse Unit 67 3201 Grand Concourse Unit 5g 1855 Grand Concourse Unit 27 3201 Grand Concourse Unit 6b 190 E Mosholu S Unit 3g 2685 Creston Avenue Unit 2e 601 Pelham Parkway N Unit 201 3585 Greystone Avenue Unit E-6a 1450 East 233rd Street 2412 Tiebout Avenue PAT T E R S O N 501 Covington Green Lane TA R R Y T O W N 6 Carriage Trail 551 Martling Avenue 1 Carriage Trail 2 Carriage Trail

123 Hilburn Road 147 Chalford Lane 32 Axtell Drive MAMARONECK 910 Stuart Avenue Unit 2h 953 Boston Post Road W Unit 2b E A S TC H E S T E R / E A S T C H E S T E R P.O. 2 Field End Lane Unit 2l 56 Manchester Road Unit B1 5 Deerfield Avenue 2 Myrtle Place 20 Deerfield Avenue 72 Siwanoy Boulevard 88 Fisher Avenue Unit B H A R T S DA L E 120 E Hartsdale Avenue Unit 7h 18 Midvale Road 23 Barnaby Lane 32 Stevenson Avenue WHITE PLAINS 260 Church Street Unit 3a2 206 Church Street 17 Dupont Avenue 20 Nethermont Avenue 95 Winding Ridge Road 47 Winding Ridge Road PELHAM 622 Pelhamdale Avenue Unit 37 60 Rockledge Drive N E W YO R K 419 East 57th Street #12b, Ny, Ny RYE 11 North Street 39 Manursing Avenue 2 Peck Avenue Unit 28a 164 Julian Street BRIARCLIFF MANOR 23 Beechwood Way 4 Arrow Tree Lane

RYE BROOK 19 Lavender Lane

C H A P PA Q U A 15 Plymouth Road

S C A R S DA L E 253 Garth Road Unit 1f 281 Garth Road Unit A3e 235 Garth Road Unit A5c 209 Garth Road Unit 5d 209 Garth Road Unit 5-O 178 Garth Road Unit 6l 15 Gainsborough Road

NEW ROCHELLE 14 Cortlandt Avenue 30 Malysana Lane HARRISON 12 Saddletree Lane

B R O N X V I L L E P. O . / Y O N K E R S Year M10 AR K E TMarket O V E R VHistory IEW S I N G L E F A M I LY H O M E S Homes Sold Full Year

1 0 Y E A R M A R K E T H I S TO RY $1,000,000

130

MEDIAN SALES PRICE

$800,000

$803,500

$816,750

$826,250

110

$765,000

$729,000

$722,500

120

$710,000

$728,000

100 90

70

$600,000 63

55 $400,000

57

59

52

72

80 70

59

60

53

37

50 40 30

$200,000

NUMBER OF HOMES SOLD

$805,000

$869,750

20 10

0

UNITS SOLD

MEDIAN PRICE

0

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

37

55

63

57

52

59

59

53

23%

70

72

10%

$805,000

$803,500

$816,750

$826,250

$765,000

$710,000

$869,750

7%

$728,000

7%

$331

$347

$356

$328

$354

$387

5%

3%

16%

$722,500

2%

A V E R A G E P R I C E / S F $310

49%

$729,000

1%

15% 10%

$313

1%

$335

1%

10%

$307

7%

9% 2%

-8%

13% 1%

8%

-8%

71%

3% 11%

10%

7%

9%

Source: OKMLS 2012-2021, Single Family homes detached, Bronxville P.O./Yonkers School Dist.

L I S T E D, S O L D, O R B O T H B Y H O U L I H A N L A W R E N C E

3 8 D E L L W O O D R O A D, B R O N X V I L L E

$1,695,000

B R O N X V I L L E P.O. / YO N K E R S

2 8 S U N N Y B R O O K R OA D, B R O N X V I L L E

SOLD BY PRICE POINT 32 %

2021 - 72 Sales 2020 - 70 Sales

<$500K

4%

39% 38%

Source: OKMLS, 1.1.21-12.31.21 vs. 1.1.20-12.31.20, single-family homes-detached, Bronxville P.O./Yonkers School Dist.

$500-749K

$ 7, 0 0 0 , 0 0 0 $750-999K

29% 42%

$1M+

7% 17 %

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