BRONXVILLE, NEW YORK – Everyone's talking about what a good year 2014 was in residential real estate, but what exactly does "good" look like? In order to answer that question, Houlihan & O'Malley, Bronxville's leading boutique real estate agency, has analyzed sales data and issued the "2014 Bronxville Home Sales Year in Review." The report indicates that the median price of a single-family home in Bronxville Village rose from $2,009,500 in 2013 to $2,190,000 in 2014, an increase of 8.9 percent. Houlihan & O'Malley's research, which was based on local market analysis supplied by the Hudson Gateway Multiple Listing Service, also shows that the median home sale in the Bronxville P.O. area of Yonkers rose from $729,000 in 2013 to $805,000 in 2014, an increase of 10.4 percent. In comparison, Westchester County's median single-family home price rose from $610,000 to $635,000, an increase of 4.1 percent.
According to Joe Houlihan, managing partner of Houlihan & O’Malley, "The median single-family home price in Bronxville Village was not as affected by the 2008 market crash as was the volume of sales, which suffered a big hit." Houlihan says that 2008 and 2009 were the low points, with sales volume at 20 and 22 homes, respectively. In 2010, sales volume spiked to 59 homes, and then in 2011 it receded to 39 sales. But 2012 was the year that sales volume roared back from pre-recession records to 61 homes. In 2013 the trend continued with 60 home sales. By year-end 2014, there was a repeat performance at the 58-unit level. The volume of sales for 2014 represents a 190% increase over 2008.
In the Bronxville P.O. area, single-family home sales rose from 26 in 2008 to 63 in 2014, a rise of 142 percent. Comparing this to Westchester County as a whole, sales volume rose from 3,811 in 2008 to 5,402 in 2014, an increase of almost 42 percent.
The highest priced home to sell in 2014 in Bronxville Village went for $5,233,000, while in the Bronxville P.O. area, the highest sale was $2,301,000. In Westchester, the most expensive home sold for $27.5 million (Ron Howard's house, located on a 32-acre property in Armonk and Greenwich, which was the highest residential home sale in Westchester County history).
For more about Houlihan & O'Malley call (914) 337-7888 or visit www.hom-realestate.com .
About Houlihan & O'Malley
The Residential Sales Group at Houlihan & O’Malley is a boutique agency dedicated to offering clients inspired service, unwavering focus, and a commitment to real estate excellence. At Houlihan & O’Malley, clients are treated to an exceptional level of service by agents who are knowledgeable, involved, and dedicated. The Residential Sales Group appreciates the needs and time constraints of its clients and constantly strives to embody the company’s motto of "Excellence on Your Side."
There are currently nine agents working in the Residential Real Estate Sales Group. Together they represent the best combination of dedicated service and real estate skill. Individually, the agents have received numerous awards from the Hudson Gateway Association of Realtors (HGAR) for outstanding sales, which, when combined, total over $300 million. All Houlihan & O’Malley salespersons are members HGAR, the New York State Association of Realtors, and the National Association of Realtors. Managing Partner Joe Houlihan is proud to have been a member of the Board of Directors of the Hudson Gateway Multiple Listing Service.