Bronxville NY Home Sales Are Up - October 2015

Home Sales Are Up In Bronxville NY - October 2015

Sales 

There were 12 unit sales in October. This is up 71.4% from 7 in October of 2014. Sales/list price ratio in October moved down to 95.4% from 95.9% in September.

Prices 

Median price in October was $1,110,000. This is up 46.1% from $760,000 in October of 2014. 3-month median price of $997,000 in October was down a little from $1,032,000 in September and down just slightly from $1,005,000 in October of 2014. Price per square foot in October was $452. This is up from $345 in September and up from $315 in October of 2014.

Inventory

Inventory of 88 in October was down 2.2% from 90 in September but up 3.5% from 85 in October of 2014. New listings in October were 18, unchanged from the same month last year. Months of supply of 6.8 in October was down modestly from 7.2 in September but up slightly from 6.2 in October of 2014.

Market Time 

Days on market of 86 in October was up considerably from 61 in September and up moderately from 68 in October of 2014.

To date there are currently 30 active single family homes on the market in Bronxville (Town of Eastchester), and within the sought after school district.  There were a total of 43 single family homes sold year to date, the absorption rate is 3.5 homes selling per month.

With current inventory levels it could take 8.5 months to sell through the active homes.  

This is important information for anyone considering selling their home.  It gives you a clear visual of how the local market in Bronxville is performing.  Proper pricing right from the start is crucial because otherwise you may sit on the market and wind up chasing it down the road.