Whether for budget reasons or for wanting to live in a less stressful and greener setting than Manhattan, everyone has a good reason to want to buy a property in Northern New York, especially in Westchester County.
What types of property can you buy in cities such as Rye, Larchmont, Mamaroneck or Irvington? And at what price? Here’s what you need to know and what is offered.
Northern New York: A healthy real estate market
The real estate market in this region has indeed grown for 5 years surely because many New Yorkers struggle to find a property, a co-op or a condo in their budget in Manhattan, even in Brooklyn. Thus, 10 days is the average time that a home remains on the market in cities such as Scarsdale, Greenville, Irvington or Rye. In addition, the fact that a significant number of tenants were excluded from the New York City market prompted developers to build new multi-family properties in communities south of Westchester, such as Yonkers and New Rochelle. With supply and demand in constant growth and sales momentum, it is a healthy real estate market that many New Yorkers – and French people – find in all these small towns or villages in northern New York.
Northern New York: What to buy and at what price?
In 2017, the median selling price of a single-family home in Westchester was $ 625,000, but prices vary considerably from city to city. For example, in Yonkers and Elmsford, the median price is between $ 430,000 and $ 470,000, while it is $ 1.6 million in Rye. Popular cities such as Larchmont, known for its charm, Scarsdale and Edgemont, which have several schools, are attracting more and more buyers, and even Westchester’s luxury housing market has picked up, with sales rising, and many upscale properties available.
For a $ 500,000 budget, head north
It’s better to go for a property north of Westchester if you want to buy a single-family home, because in cities like Larchmont or Bronxville, you’ll only get 2-bedroom co-ops for that price.
For a budget of one million dollars, a beautiful house
In most places, a million dollars gives you the right to a beautiful house; In Westchester, expect something a little less fabulous (we stay in New York, all the same). You will certainly find large houses, but many are not in their early youth and if you add the condition of being in a very popular city, your property will surely be small. You have to think about reserving a part of your budget for renovation work. The good news is that the grounds are – much bigger in the county and that for that price you will have a nice garden.
For a budget of 3 million dollars, a superb property
In short, you get what you pay for and when you pay $ 3 million, you have a lot, even in Westchester.
If you are working with a budget of $ 3 million, your housing options have expanded considerably, all over Westchester. “If you are looking for a house in Armonk, Chappaqua or Briarcliff, for example, you can have a newly built luxury home with a garage for three cars and even a pool.”