2021 Annual Bronxville Market Recap

When I think 2021, I think STRONG. It’s been a tough couple of years on many levels. But as the saying goes, if the going gets tough...well, you know the rest. The speedy rollout of vaccinations, adaptability of workplaces, employees and market performance was impressive. I’ve witnessed neighbors, friends and families roll with 2021’s ups and downs, while continuing to show support and compassion for each other. As I said – STRONG.

The 2021 Bronxville real estate market matches the resilience I consider a hallmark of this past year. After a 20% jump in detached homes sold prices in 2020, 2021 prices stayed stable with a 1.6% increase. Price per square foot increased 11% and number of days on market decreased, showing that with continued low inventory, buyers are educated and ready to move quickly.

Townhouses, often homes for first time home buyers moving from the NYC area, had a good year. Median price of homes sold increased 6.8%, while average price per square foot increased 9.3%. Average number of days on market dropped dramatically from 90 to 24, more evidence of a market with lean inventory.

The trend for people wanting more space and privacy has softened the coop market slightly, with a 10% decrease in median price sold.This is the first dip in six years. Median number of days on market decreased from 52 to 42, suggesting the continued presence of engaged buyers. 

We face a strong foundation for a vibrant market in 2022. As always, give me a call if you would like to discuss your buying or selling plans, whether they be short or longer term.

🥂 Wishing you a happy and prosperous new year,

Val