The Daily Ramble – Hartsdale Coop Market Statistics
When I go on listing appointments I always generate market statistics for the particular submarket. Stats do not lie; they provide objective information that compliments the agents presentation. Lets face it, sellers sometimes do not believe the agent sitting across from them (never a good thing!). Statistics add credibility, and they are real world.
In this case I am looking at a two bedroom coop on East Harsdale Ave. “EHA” is a very popular place to live given its many positive attributes: walk to Metro North, good quality retail down the block (including Starbucks and a great bagel place!) The street also has some very nice well-run coops, and they usually have “the magic word’ PARKING!!!
Central Avenue shopping is just a few blocks away which is really convenient. So EHA has the best of both worlds: a “villagey” feeling as well as close to amenities. Very much like Bronxville/Bronxville PO, but with generally better parking.
Although I was only looking at two bedroom apartments, when I ran the numbers I was quite surprised. EHA is doing much better, and feels far more stable than other Westchester submarkets. Yes, marketing times have increased (over 25% in the past two years), but pricing and units sold have been effectively flat. This suggests that the overall pricing is a bit high, but not as bad as other markets.
I also compared the first quarter results with prior years, but the cohort of data was so small that it was meaningless. Clearly the first quarter on EHA, no matter the market, is pretty dead.
So I am happy about the results, and I can keep my head up when I meet with my future clients!
