2017 | luxury market snapshot · 2017 | luxury market snapshot • luxury homes sales in...

Q4 2017 REALTY CHECK

VOLUME 14, ISSUE 4

Rye Brokerage16 Elm Place, Rye, NY 10580

# OF HOMES SOLD

AVG. DAYS ON MARKET

AVG. LIST PRICE

AVG. SALE PRICE

AVG. SQFT

AVG. PRICE PER SQFT

$2,749,667

$2,533,333

$342.14

$1,142,647

$1,091,693

$358.77

$1,301,000

$1,246,214

$299.41

10528 10577 10580

10.1.17-12.31.17 10.1.17-12.31.1710.1.17-12.31.17 10.1.16-12.31.16 10.1.16-12.31.1610.1.16-12.31.16 % CHANGE% CHANGE % CHANGE

$1,236,400

$1,177,000

$267.12

$1,440,864

$1,317,500

$344.67

$2,360,714

$2,161,857

$314.87

-40.0%

468.6%

122.4%

115.2%

-20.7%

-17.1%

-15.9%

-50.4%

-44.9%

-42.4%

-34.3%

Q4 2017 | Single Family Sales in Harrison/Purchase

# OF HOMES SOLD

AVG. DAYS ON MARKET

AVG. LIST PRICE

AVG. SALE PRICE

AVG. SQFT

AVG. PRICE PER SQFT

$2,048,316

$1,923,816

$373.91

$1,352,915

$1,293,781

$367.50

$1,742,780

$1,605,932

$335.70

10528 10577 10580

1.1.17-12.31.17 1.1.17-12.31.17 1.1.17-12.31.171.1.16-12.31.16 1.1.16-12.31.16 1.1.16-12.31.16% CHANGE % CHANGE% CHANGE

$2,329,737

$2,076,316

$345.77

$1,430,617

$1,354,930

$349.56

$1,986,214

$1,846,007

$354.95

-13.7%

-11.4%

-46.2%

-12.0%

-21.8%

-14.0%

-14.9%

Full Year 2017 | Single Family Sales in Harrison/Purchase

Source: HGMLS single family homes sold Harrison, Purchase 10528, 10577, 10580; 10.1.17-12.31.17 vs. 10.1.16-12.31.16 and 1.1.17-12.31.17 vs. 1.1.16-12.31.16. #1 Agent: 2011, 2012, 2014, 2015, 2016 full yrs total dollar vol. sold, Rye City Schl Dist, by agent. Real Trends/WSJ rank 2013, 2014, 2015, 2017. Information deemed accurate but not guaranteed. Please disregard if you are working w/ another broker.

Joan O’Meara Associate Real Estate BrokerHoulihan Lawrence Rye BrokerageM: 914.329.5329 | O: 914.967.7680 x [email protected] | joanomeara.com

#1 Agent in Rye2011, 2012, 2014, 2015, 2016

REAL Trends “The Thousand”2013, 2014, 2015, 2017 (Top 250 in US - Sales Vol.)

Written by C. Anderson and Joan O’Meara

Joan O’Meara, Associate Real Estate Broker with Houlihan Lawrence’s Rye and Harrison office, provides a glimpse at some of the year’s real estate highlights and offers some acumen into the year ahead.

Looking BackO’Meara is excited to report Houlihan Lawrence Rye finished 2017 as the # 1 real estate office in Westchester and locally out-performed our closest competitor in Rye City School District by a record $123 million in sales volume, resulting in a 45% share of the market. Houlihan Lawrence also netted some additional strong results in Rye this past year. HL claimed 7 of the top 10 agents in Rye City – including Joan O’Meara. HL can also report days on the market was 12% quicker than the nearest Rye competitor. These achievements continue Houlihan Lawrence’s success in creating a win-win for our Sellers and Buyers.

Focusing on the overall market, HL’s Quarterly Market Report, released this month, summarizes, “The US economy ran on all cylinders in 2017. The financial markets had another record-breaking year. Jobless claims are the lowest since 1973; continued on following page...

Reflection and Insight Joan O’Meara & Team: Joan, Tom, Katie, and MaryReferrals are always appreciated.

2017 | Luxury Market Snapshot• Luxury homes sales in Westchester County $2M and up

increased 5% from last year.

• The $3M to $5M price range grew the most with a 16% increase.

• Rye accounted for 5 of the 10 highest sales in Westchester, 4 being waterfront.

Source: HGMLS, 2017 full yr, single family homes sold $2M+, Westchester County.

Q4 2017 REALTY CHECK

VOLUME 14, ISSUE 4

Rye Brokerage16 Elm Place, Rye, NY 10580

# OF HOMES SOLD

AVG. DAYS ON MARKET

AVG. LIST PRICE

AVG. SALE PRICE

AVG. SQFT

AVG. PRICE PER SQFT

$2,749,667

$2,533,333

$342.14

$1,142,647

$1,091,693

$358.77

$1,301,000

$1,246,214

$299.41

10528 10577 10580

10.1.17-12.31.17 10.1.17-12.31.1710.1.17-12.31.17 10.1.16-12.31.16 10.1.16-12.31.1610.1.16-12.31.16 % CHANGE% CHANGE % CHANGE

$1,236,400

$1,177,000

$267.12

$1,440,864

$1,317,500

$344.67

$2,360,714

$2,161,857

$314.87

-40.0%

468.6%

122.4%

115.2%

-20.7%

-17.1%

-15.9%

-50.4%

-44.9%

-42.4%

-34.3%

Q4 2017 | Single Family Sales in Harrison/Purchase

# OF HOMES SOLD

AVG. DAYS ON MARKET

AVG. LIST PRICE

AVG. SALE PRICE

AVG. SQFT

AVG. PRICE PER SQFT

$2,048,316

$1,923,816

$373.91

$1,352,915

$1,293,781

$367.50

$1,742,780

$1,605,932

$335.70

10528 10577 10580

1.1.17-12.31.17 1.1.17-12.31.17 1.1.17-12.31.171.1.16-12.31.16 1.1.16-12.31.16 1.1.16-12.31.16% CHANGE % CHANGE% CHANGE

$2,329,737

$2,076,316

$345.77

$1,430,617

$1,354,930

$349.56

$1,986,214

$1,846,007

$354.95

-13.7%

-11.4%

-46.2%

-12.0%

-21.8%

-14.0%

-14.9%

Full Year 2017 | Single Family Sales in Harrison/Purchase

Source: HGMLS single family homes sold Harrison, Purchase 10528, 10577, 10580; 10.1.17-12.31.17 vs. 10.1.16-12.31.16 and 1.1.17-12.31.17 vs. 1.1.16-12.31.16. #1 Agent: 2011, 2012, 2014, 2015, 2016 full yrs total dollar vol. sold, Rye City Schl Dist, by agent. Real Trends/WSJ rank 2013, 2014, 2015, 2017. Information deemed accurate but not guaranteed. Please disregard if you are working w/ another broker.

Joan O’Meara Associate Real Estate BrokerHoulihan Lawrence Rye BrokerageM: 914.329.5329 | O: 914.967.7680 x [email protected] | joanomeara.com

#1 Agent in Rye2011, 2012, 2014, 2015, 2016

REAL Trends “The Thousand”2013, 2014, 2015, 2017 (Top 250 in US - Sales Vol.)

Written by C. Anderson and Joan O’Meara

Joan O’Meara, Associate Real Estate Broker with Houlihan Lawrence’s Rye and Harrison office, provides a glimpse at some of the year’s real estate highlights and offers some acumen into the year ahead.

Looking BackO’Meara is excited to report Houlihan Lawrence Rye finished 2017 as the # 1 real estate office in Westchester and locally out-performed our closest competitor in Rye City School District by a record $123 million in sales volume, resulting in a 45% share of the market. Houlihan Lawrence also netted some additional strong results in Rye this past year. HL claimed 7 of the top 10 agents in Rye City – including Joan O’Meara. HL can also report days on the market was 12% quicker than the nearest Rye competitor. These achievements continue Houlihan Lawrence’s success in creating a win-win for our Sellers and Buyers.

Focusing on the overall market, HL’s Quarterly Market Report, released this month, summarizes, “The US economy ran on all cylinders in 2017. The financial markets had another record-breaking year. Jobless claims are the lowest since 1973; continued on following page...

Reflection and Insight Joan O’Meara & Team: Joan, Tom, Katie, and MaryReferrals are always appreciated.

2017 | Luxury Market Snapshot• Luxury homes sales in Westchester County $2M and up

increased 5% from last year.

• The $3M to $5M price range grew the most with a 16% increase.

• Rye accounted for 5 of the 10 highest sales in Westchester, 4 being waterfront.

Source: HGMLS, 2017 full yr, single family homes sold $2M+, Westchester County.

...consumer confidence rose to a 17-year high and the world economy had its best year since the financial crisis of 2008.” At the moment the big news is the tax reform and the concern over what impact it will have on our market. It would seem there will be some pressure for both Buyers and Sellers. However, this is not a straightforward shift and O’Meara highly recommends seeking input from financial advisors and accountants.

Looking ForwardBuyer behavior appears unchanged since the tax legislation passed in December. Deals are staying together and showings, a leading indicator of future pended sales, are up in certain price points. This behavior was evident in the busier than normal fourth quarter with homes going into contract through the holidays. Historically, transactions slow down as we approach Thanksgiving.

O’Meara is confident that current Buyers will continue to be disciplined, informed and cautious. They expect value for their money and they will not hesitate to overlook listings they perceive to be overpriced. Bottom line…Buyers in 2018 will continue to seek value. We are hopeful that factors such as consumer confidence, predicted lack of inventory continued from 2017 to 2018, and steadfast desirability of living in our market area will help offset the tax changes.

Visit joanomeara.com to read the full Houlihan Lawrence Market Report. To receive future quarterly market reports in a timely fashion directly to your inbox please email Joan O’Meara & Team today at [email protected].

16 Adelphi Avenue8 The Crossing 25 Brookside Lane4 Highfield Road2 Sylvanleigh Road34 Seville Avenue4 Boxwood Lane122 Sterling Road6 Pleasant Ridge Road16 Convent Lane10 Knightsbridge Manor Rd11 Flagler Drive46 Biltmore Avenue17 Orchard Drive111 Bellevue Avenue7 Lakeside Drive45 Rigene Road1 Bristol Lane10 Stone Bridge Road17 Boxwood Lane57 Rye Ridge Road1 Laurel Wood Court

73 Duxbury Road7 Ophir Drive248 Sterling Road

137 Temple Street71 Oak Street33 Temple Street12 Yarmouth Road1 Adelphi Avenue6 Ponds Lane31 Highfield Road10 Pebble Beach Drive93 Taylor Lane1 Indian Trail63 Woodlands Road8 Flagler Drive

Address23442850334437515000393342565799723166616400735072099000507878276298787188056944985212952

231153476072

104018961900190830264481250348593837566175549153

SqFt6/6.23/3.03/2.15/4.14/5.16/4.15/4.25/5.15/5.17/6.26/6.16/6.16/5.16/7.15/4.24/4.25/4.15/5.16/6.26/5.26/6.17/8.2

3/2.16/4.16/4.1

2/1.03/2.04/2.03/3.04/3.15/4.13/2.14/5.15/4.16/4.16/5.16/6.1

Bd/Bth$837,500$879,000$1,069,000$1,195,000$1,595,000$2,295,000$2,550,000$2,649,000$2,665,000$2,795,000$2,875,000$2,995,000$3,295,000$3,300,000$3,425,000$3,495,000$3,795,000$3,865,000$3,895,000$3,999,000$4,750,000$5,995,000

$699,000$1,750,000$2,350,000

$494,999$649,000$679,000$795,000$799,000$999,000$1,085,000$1,249,000$1,275,000$1,299,000$3,195,000$4,800,000

Q4 Harrison/Purchase Samplings |Houlihan Lawrence

Source: HGMLS Harrison and Purchase single-family 10580, 10577, 10528: active as of 1.2.18; in contract and sold, 10.1.17-12.31.17.

Happy New Year! Based on some positive trends in 2017 and continued buyer interest in our area, we are optimistically looking forward to a robust market this year. Within Harrison, the 10528 zip code posted a notable 4% gain in number of homes sold from 75 in 2016 to 78 in 2017. The 10580 area remained steady at 19 homes sold in both years and Purchase 10577 saw only a slight decrease from 28 homes sold in 2016 to 25 homes sold in 2017. There was a positive shift in average days on the market in both 10528 and 10577 – homes sold 46% and 22% faster respectively from year-to-year. The Harrison 10580 market area experienced a 18% increase in median price and an 8% jump in average price per square foot from 2016 to 2017.

While it is important to look at the numbers and see how the overall market is faring, we also know that buying or selling a home is a much more personalized and nuanced process which needs more in depth answers. Therefore, we are excited to invite you to a "Real Estate Q&A" next month to answer any questions you may have about the market and the selling or buying process. Details about the event can be found on the invite on the adjacent page. As always please feel free to contact us for a complimentary analysis of your home. Wishing you all a safe, healthy and happy new year.

Year End Summary by Joan O’Meara and Team Fun Facts

Reflection and Insight (continued)

Most Expensive

$6,250,000 list price | 10,594 sqft | 6 BR & 7.3 BTH

Largest, Most Bedrooms/Bathrooms

Most Property - 4.57 Acres

Most Expensive, Largest, Most Property - 1.62 Ac.

Quickest to Contract - 8 Days on Market

$494,999 list price | 1,040 sqft | 2 BR & 1.0 BTH

Smallest

$550,000 list price | 946 sqft | 2 BR & 1.0 BTH

ON THE MARKET521 Shore Acres Drive, Mamk. | $1,695,000 Web# AD1421285Completely renovated and expanded in 2017 by acclaimed NYC architectural firm Murdock Solon. Renovations of this historic Colonial have created the perfect balance of old charm and modern day luxury.

When: Thursday, February 1st | 6:30-8:00pmWhere: Nest Inspired Home | 20 Purchase St, RyeRSVP: [email protected]

Hear From Local Experts:

Discussion Topics:

RSVP Appreciated • Refreshments to be Served • Raffle Prizes

Joan O’Meara & Team invites you to join us for a real estate Q & A

Joan O’Meara & Team, John Gardner-RE Attorney, Lisa Hynes-Stage to Show, Jean Barish-Senior Loan Officer, Bets Miller-Designer, Jen Costigan-Professional Organizer

• Update on local RE Market and the upcoming year• Renovating and/or expanding advice• Guidance on downsizing and trading up• And more!

Client Testimonial

“Joan and her team have provided top notch intelligence on the housing market to our family for years. When it came time to sell our home in Rye this year, Joan’s sound advice, depth of knowledge, and realistic view of the marketplace made all the difference in the world. It was a pleasure to work with her and her team.” - Seller Client

60 Beverly Dr, Rye | $5,900 | Web# AD 556 Milton Road, Rye | $1,279,000

46 Westerleigh Rd, Purchase | $1,495,000

120 Rye Ridge Road, Harrison | $1,850,000

14 Lake Road, Rye | $3,495,000

43 Halsted Place, Rye | $4,100,000

7 Martin Road, Rye | $4,150,000

175 Huguenot St #1201, New Ro. | $510,000

6 Ponds Lane, Rye | $999,000

287 Rye Beach Avenue, Rye | $1,685,000

71 Fairway Avenue, Rye | $1,950,000 *All prices are list prices. Active as of 1.12.18.

ON THE MARKET IN CONTRACT

ON THE MARKET

130 Forest Avenue, Rye | $5,195,000 | Web# AD1441986This traditional Rye Colonial has been completely restyled, deftly incorporating a modern palette of color and comforts for an uncompromisingly elegant, yet relaxed style of living.

COMING SOON6 Beds | 8.1 Baths | 7,937 sqft

COMING SOON

6 Beds | 6.1 Baths | 7,843 sqft | $3,395,000

Q4 2017 Team Properties | 38 Sales in 2017

*Source: HGMLS, 1.1.17-12.31.17 total volume of single-family homes sold by office in Westchester County; Rye City School District.

...consumer confidence rose to a 17-year high and the world economy had its best year since the financial crisis of 2008.” At the moment the big news is the tax reform and the concern over what impact it will have on our market. It would seem there will be some pressure for both Buyers and Sellers. However, this is not a straightforward shift and O’Meara highly recommends seeking input from financial advisors and accountants.

Looking ForwardBuyer behavior appears unchanged since the tax legislation passed in December. Deals are staying together and showings, a leading indicator of future pended sales, are up in certain price points. This behavior was evident in the busier than normal fourth quarter with homes going into contract through the holidays. Historically, transactions slow down as we approach Thanksgiving.

O’Meara is confident that current Buyers will continue to be disciplined, informed and cautious. They expect value for their money and they will not hesitate to overlook listings they perceive to be overpriced. Bottom line…Buyers in 2018 will continue to seek value. We are hopeful that factors such as consumer confidence, predicted lack of inventory continued from 2017 to 2018, and steadfast desirability of living in our market area will help offset the tax changes.

Visit joanomeara.com to read the full Houlihan Lawrence Market Report. To receive future quarterly market reports in a timely fashion directly to your inbox please email Joan O’Meara & Team today at [email protected].

16 Adelphi Avenue8 The Crossing 25 Brookside Lane4 Highfield Road2 Sylvanleigh Road34 Seville Avenue4 Boxwood Lane122 Sterling Road6 Pleasant Ridge Road16 Convent Lane10 Knightsbridge Manor Rd11 Flagler Drive46 Biltmore Avenue17 Orchard Drive111 Bellevue Avenue7 Lakeside Drive45 Rigene Road1 Bristol Lane10 Stone Bridge Road17 Boxwood Lane57 Rye Ridge Road1 Laurel Wood Court

73 Duxbury Road7 Ophir Drive248 Sterling Road

137 Temple Street71 Oak Street33 Temple Street12 Yarmouth Road1 Adelphi Avenue6 Ponds Lane31 Highfield Road10 Pebble Beach Drive93 Taylor Lane1 Indian Trail63 Woodlands Road8 Flagler Drive

Address23442850334437515000393342565799723166616400735072099000507878276298787188056944985212952

231153476072

104018961900190830264481250348593837566175549153

SqFt6/6.23/3.03/2.15/4.14/5.16/4.15/4.25/5.15/5.17/6.26/6.16/6.16/5.16/7.15/4.24/4.25/4.15/5.16/6.26/5.26/6.17/8.2

3/2.16/4.16/4.1

2/1.03/2.04/2.03/3.04/3.15/4.13/2.14/5.15/4.16/4.16/5.16/6.1

Bd/Bth$837,500$879,000$1,069,000$1,195,000$1,595,000$2,295,000$2,550,000$2,649,000$2,665,000$2,795,000$2,875,000$2,995,000$3,295,000$3,300,000$3,425,000$3,495,000$3,795,000$3,865,000$3,895,000$3,999,000$4,750,000$5,995,000

$699,000$1,750,000$2,350,000

$494,999$649,000$679,000$795,000$799,000$999,000$1,085,000$1,249,000$1,275,000$1,299,000$3,195,000$4,800,000

Q4 Harrison/Purchase Samplings |Houlihan Lawrence

Source: HGMLS Harrison and Purchase single-family 10580, 10577, 10528: active as of 1.2.18; in contract and sold, 10.1.17-12.31.17.

Happy New Year! Based on some positive trends in 2017 and continued buyer interest in our area, we are optimistically looking forward to a robust market this year. Within Harrison, the 10528 zip code posted a notable 4% gain in number of homes sold from 75 in 2016 to 78 in 2017. The 10580 area remained steady at 19 homes sold in both years and Purchase 10577 saw only a slight decrease from 28 homes sold in 2016 to 25 homes sold in 2017. There was a positive shift in average days on the market in both 10528 and 10577 – homes sold 46% and 22% faster respectively from year-to-year. The Harrison 10580 market area experienced a 18% increase in median price and an 8% jump in average price per square foot from 2016 to 2017.

While it is important to look at the numbers and see how the overall market is faring, we also know that buying or selling a home is a much more personalized and nuanced process which needs more in depth answers. Therefore, we are excited to invite you to a "Real Estate Q&A" next month to answer any questions you may have about the market and the selling or buying process. Details about the event can be found on the invite on the adjacent page. As always please feel free to contact us for a complimentary analysis of your home. Wishing you all a safe, healthy and happy new year.

Year End Summary by Joan O’Meara and Team Fun Facts

Reflection and Insight (continued)

Most Expensive

Largest, Most Bedrooms/Bathrooms

Most Property - 4.57 Acres

Most Expensive, Largest, Most Property - 1.62 Ac.

Quickest to Contract - 8 Days on Market

$494,999 list price | 1,040 sqft | 2 BR & 1.0 BTH

Smallest

$550,000 list price | 946 sqft | 2 BR & 1.0 BTH

ON THE MARKET521 Shore Acres Drive, Mamk. | $1,695,000 Web# AD1421285Completely renovated and expanded in 2017 by acclaimed NYC architectural firm Murdock Solon. Renovations of this historic Colonial have created the perfect balance of old charm and modern day luxury.

When: Thursday, February 1st | 6:30-8:00pmWhere: Nest Inspired Home | 20 Purchase St, RyeRSVP: [email protected]

Hear From Local Experts:

Discussion Topics:

RSVP Appreciated • Refreshments to be Served • Raffle Prizes

Joan O’Meara & Team invites you to join us for a real estate Q & A

Joan O’Meara & Team, John Gardner-RE Attorney, Lisa Hynes-Stage to Show, Jean Barish-Senior Loan Officer, Bets Miller-Designer, Jen Costigan-Professional Organizer

• Update on local RE Market and the upcoming year• Renovating and/or expanding advice• Guidance on downsizing and trading up• And more!

Client Testimonial

“Joan and her team have provided top notch intelligence on the housing market to our family for years. When it came time to sell our home in Rye this year, Joan’s sound advice, depth of knowledge, and realistic view of the marketplace made all the difference in the world. It was a pleasure to work with her and her team.” - Seller Client

60 Beverly Dr, Rye | $5,900 | Web# AD 556 Milton Road, Rye | $1,279,000

46 Westerleigh Rd, Purchase | $1,495,000

120 Rye Ridge Road, Harrison | $1,850,000

14 Lake Road, Rye | $3,495,000

43 Halsted Place, Rye | $4,100,000

7 Martin Road, Rye | $4,150,000

175 Huguenot St #1201, New Ro. | $510,000

6 Ponds Lane, Rye | $999,000

287 Rye Beach Avenue, Rye | $1,685,000

71 Fairway Avenue, Rye | $1,950,000 *All prices are list prices. Active as of 1.12.18.

ON THE MARKET IN CONTRACT

ON THE MARKET

130 Forest Avenue, Rye | $5,195,000 | Web# AD1441986This traditional Rye Colonial has been completely restyled, deftly incorporating a modern palette of color and comforts for an uncompromisingly elegant, yet relaxed style of living.

COMING SOON6 Beds | 8.1 Baths | 7,937 sqft

COMING SOON

6 Beds | 6.1 Baths | 7,843 sqft | $3,395,000

Q4 2017 Team Properties | 38 Sales in 2017

*Source: HGMLS, 1.1.17-12.31.17 total volume of single-family homes sold by office in Westchester County; Rye City School District.

2017 | luxury market snapshot · 2017 | luxury market snapshot • luxury homes sales in...

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