2015 ended on a solid note with good performance in the 4th quarter. Across Westchester, Putnam and Dutchess counties, home sales achieved a new 10-year high. As Houlihan Lawrence President and CEO, Managing Principal Stephen and Chris Meyers describe in the newly released 4th Quarter Market Report, “New buyers are ready, willing and now able to buy their first home.” This sets up a promising outlook for 2016, with incented buyers moving off the sidelines, compelled by both a stronger than expected December job market and the Fed’s recent rate hike.

Joan O’Meara, associate real estate broker with Houlihan Lawrence’s Rye & Harrison office, remarks that the number of Buyers coming out of New York City continues to increase each year. “The cost of living in the city compared to what a Buyer can get here is compelling. I believe many had planned to stay in the city a few more years with a plan to move out here eventually. It seems they simply decided to move out of the city sooner due to the competitiveness of the NYC market.” Combined with the continued allure of the Rye and Harrison communities, plus the focused advertising efforts of Houlihan Lawrence to NYC, the increase makes sense.

O’Meara notes that the year played out as per the Meyers’ predictions: we experienced a “Goldilocks” market that was not too hot/not too cold. The forecast also included an increase in inventory, which materialized with the number of units sold increasing over the year. Our own communities saw some increases in units sold as well (see 2015 Units Sold chart).

As the 4th Quarter Report highlights, a sweet spot right now is for homes under $1 million. With a solid base, the market has room to move higher. This will ripple up as the confidence of established homeowners is increased, motivating them to trade up to higher price points…which in turn creates demand at these higher levels.

Interestingly, our warm weather in the last quarter of 2015 generated a burst of year-end real estate activity throughout our region. Overall, Houlihan Lawrence experienced a 10 percent increase in pending homes up from 2015 levels. O’Meara reports her pending/under contracts at approximately 33% higher from one year ago. Also of note here is that tight inventory levels kept many Buyers from finding their dream homes during this typically quiet holiday period, so we are poised for ready Buyers to find their homes in 2016 as hopefully more houses come on the market.

LOOKING FORWARD/LIKELY TRENDS IN 2016Young money will keep the market buzzing. Millennials are growing up. They now dominate the workforce. The oldest of them are turning 35. They want to settle down. Because inventory at the entry levels is so tight, they are coming to realize they need to move fast to get the home they want. Days On Market is the lowest it has been in a decade, and we see no end anytime soon.

Tight inventories are getting the more affordable markets moving. There is a growing sense of urgency to snap up a home before it’s gone. For example, in Westchester, inventory of homes priced under $1.5 million has barely budged in the last year. The next level up, $1.5 million to $3 million has seen inventory growth between 10 and 20 percent. But demand has also moved higher at about the same pace.

Luxury Sellers will need to pull out all the stops to stand out in a crowded field. Inventories are up as much as 30 percent at the very high-end of the market. To get the sale, Sellers will have to make sure their property delivers everything Buyers want at the best value for the price point. O’Meara strongly encourages Sellers to promote value. “They will buy if they see value. If something is overpriced, they will wait or look elsewhere in Westchester/Connecticut.”

Although inventory is tight as 2016 begins, we are hoping to see new homes hitting the market in the next few weeks. Buyers are also likely to become more assertive in going after the most desirable properties….which links back to value, a significant influencer on a property’s desirability.

REALTYCHECK

LOOKING BACK Joan O’Meara shares some firsthand insights Written by C. Anderson, Contributed by Joan O’Meara

Cell : (914) 329-5329 Office: (914) 967-7680 jomeara@houlihanlawrence.com joanomeara.com

Source: HGMLS: SF, Sold, 1/1/14-12/31/14, 1/1/15-12/31/15

HGMLS: SF, Sold, 1/1/14-12/31/14, 1/1/15-12/31/15

JOAN O’MEARA&TEAM

2015 vs 2014 AT-A-GLANCE 10580

Rye City Schools Rye Neck Schools Harrison Schools 2015 2014 % Chg 2015 2014 % Chg 2015 2014 % Chg# of Homes Sold 147 140 5% 17 10 70% 20 18 11%Avg Days on Market 73 116 -37% 146 115 27% 136 144 -6%Avg List Price $2,246,547 $2,049,910 10% $2,743,706 $1,729,400 59% $2,022,500 $2,029,083 0%Avg Sold Price $2,176,219 $2,006,480 8% $2,343,200 $1,664,500 41% $1,856,900 $1,877,394 -1%Avg Sq Footage 3343 3293 2% 4298 3513 22% 4542 5146 -12%Avg Price/Sq Ft 636 603 6% 596 492 21% 456 390 17%

2015 UNITS SOLD

Rye City

+5% (140 in 2014 147 in 2015)

Rye Neck

+70% (10 in 2014 17 in 2015)

Harrison 10580

+11% (18 in 2014 20 in 2015)

Harrison 10528

+6% (62 in 2014 66 in 2015)

Purchase 10577

-23% (39 in 2014 30 in 2015)

CONSIDERING A MOVE? Contact Joan to speak with a recent Buyer or Seller.

Call or Text: 914-329-5329 Email: jomeara@HoulihanLawrence.com

Joan O’Meara ranked #1 in Rye City, Rye Schools and 10580 by MLS for 2015!

“Joan really listened to us and understood what we were looking to find in a new home. She didn’t waste our time showing us houses that didn’t fit our criteria or were out of our price range. We completely trusted and respected her opinions and feel that she is incredibly genuine and trustworthy. She made the process of purchasing a home as painless and as easy as possible. It was truly a pleasure to work with her and I would wholeheartedly recommend her. In fact, we have already referred several clients to Joan.” – Rye Client

DEARNEIGHBORSThe winter cold has set in, followed by our region’s recent snow covering with the first big storm of 2016 in Rye and Harrison.

As 2015 came to a close, the last quarter saw comparable numbers of homes sold across all three school districts within 10580 compared to 4Q 2014, with 22 sold in Rye City in 2015, 4 in Rye Neck, and 3 in Harrison 10580. Rye City witnessed a healthy 33% increase in Average Sold Price, rising up and over the $2 million mark, from $1,629,779 in 2014 to $2,161,182 in 2015. Similarly, Rye Neck rose 30% from $1,875,000 in 2014 to $2,439,375 in 2015. Overall for the year, the Average Sold Price rose 8% in Rye City to $2,176,219; leaped 41% in Rye Neck to $2,343,200; and dipped 1% in Harrison 10580 to $1,856,900.

There are some interesting trends and stats to share as year-end numbers are evaluated from the recent Houlihan Lawrence’s 4th Quarter Market Report. See Looking Back, Looking Forward, this issue.

As always, feel free to contact me with any real estate questions or for a complimentary market analysis of your home.

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67 Halsted Place / Rye 10580 5BR/4.2B / 6172 sqft JUST LISTED / NEW CONSTRUCTION

Thoughtfully designed Colonial by Susie Cappelli (SAC Development) & Tom Demasi (Alpine Construction) on .395 level acres in walking distance to parks, beach & elem school. Inviting front porch, butler pantry, gourmet kitchen, luxurious master suite, finished basement with large rec room, gym and more. Custom millwork, exquisite detailing, wood shingle roof, hardwood floors. Rendering for illustrative purposes only.

86 Fenimore Drive / Harrison 10528 4BR/3.0B / 2715 sqft / FEATURED LISTING

Home located in great neighborhood on level .39 acres. First floor features living room with stone fireplace, dining room, EIK with adjacent pantry, laundry, family room with skylights/door to yard, bedroom, full bath and access to one-car attached garage. Second floor replete with master BR and bath, 2 family BRs and full hall bath. Large walk-out basement provides recreation space.

$

4,59

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799,

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66 Milton Road A12 / Rye 10580 1BR/1.0B / 968 sqft / JUST LISTED

Charming, spacious and bright one-bedroom apartment in sought after Blind Brook Lodge near downtown Rye. Beautiful pre-war Tudor style building with manned gatehouse. Conveniently located on first floor with living room with fireplace, built-ins, updated kitchen with stainless steel appliances/granite counters/dumb waiter for easy trash disposal, dining area, large bedroom, updated full bath and hardwood oak floors. Short walk to train, shops, parks, YMCA, library, restaurants and more.

$

349,

000

265 Milton Road / Rye 10580 6BR/6.2B / 8026 sqft / NEW CONSTRUCTION

Truly sensational new construction cedar shingle Colonial in the heart of Rye built by Susie Cappelli (SAC Development) & Thomas DeMasi (Alpine Construction). Move right into this impeccably crafted home which features exquisite craftsmanship, custom millwork & top-of-the-line amenities including natural stones, lustrous wood, glass & mosaic inlays, 3 fireplaces, high ceilings and gourmet kitchen. Walking distance to all...a must see!

$

5,49

5,00

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RANKED #1 IN RYE FOR 2015 JOAN O’MEARA &TEAM

UNDER CONTRACT 105 Hix Avenue, Rye $2,385,000 11 Meadow Place, Rye $2,650,000 3 Philips Lane, Rye $3,150,000 63 Florence Avenue, Rye $3,200,000 7 Katsura Drive, Purchase $3,375,000 8 Windcrest Road, Rye $4,495,000 135 Stuyvesant Avenue, Rye $6,995,000

45 SALES IN 2015!

FUNFACTS

10580SAMPLINGS Houlihan Lawrence 4th Quarter 2015 Real Estate Transactions

Single Family ListingsProperty Address Listing Price BR/B Sq. Ft.

627 Purchase St $ 950,000 5/4.1 3900609 Purchase St $ 1,099,000 4/3.1 3502474 Milton Rd $ 1,195,000 4/2.0 212010 Cloverdale Ln $ 1,550,000 3/3.1 264414 Harbor Ln $ 1,595,000 5/4.1 435715 Greenway Rd $ 1,749,000 5/3.1 37662 Ironwood Ln $ 1,895,000 6/5.1 594061 Osborn Rd $ 2,195,000 4/3.1 307068 Rye Rd $ 2,295,000 5/4.3 535415 Hughes Ave $ 2,345,000 5/4.1 3624711 Forest Ave $ 2,360,000 4/3.1 269942 Colby Ave $ 2,595,000 5/4.1 4897535 Polly Park Rd $ 2,999,000 5/3.1 695010 Captains Ln $ 3,199,000 5/5.1 5631521 Forest Ave $ 3,799,999 5/4.1 5565

Single Family Listings continuedProperty Address Listing Price BR/B Sq. Ft.

360 Grace Church St $ 4,495,000 4/3.0 242067 Halsted Plc $ 4,595,000 5/4.2 61726 Manursing Way $ 4,925,000 6/6.1 6210265 Milton Road $ 5,495,000 6/6.2 8026140 Forest Ave $ 6,995,000 7/8.1 806515 Hilltop Plc $ 7,500,000 7/6.2 94873 Club Road $ 10,650,000 8/9.3 13,658

Single Family in ContractProperty Address Listing Price BR/B Sq. Ft.

58 Greenhaven Rd $ 1,149,000 3/3.1 33145 Fairlawn Ct $ 2,249,000 4/3.2 38448 Windcrest Rd $ 4,495,000 7/4.2 628796 Forest Ave $ 5,500,000 6/6.2 62313 Sackett Landing $ 5,995,000 4/5.1 3714

Single Family SoldProperty Address Listing Price BR/B Sq. Ft.

41 Hughes Ave $ 799,000 3/2.0 15125 Brevoort Ln $ 1,195,000 3/2.0 187235 Lasalle Ave $ 1,199,000 4/2.0 225955 Meadow Plc $ 1,395,000 6/3.1 24004 Oakwood Ave $ 1,695,000 4/3.1 340018 Griswold Rd $ 1,799,000 5/3.2 377059 Drake Aven $ 2,295,000 5/4.1 347368 Allendale Dr $ 2,350,000 5/4.1 4154249 Locust Ave $ 2,395,000 4/4.1 456285 Drake Smith Ln $ 3,195,000 5/4.1 3867

OLDEST HOME SOLD / 1890 $1,225,000 List Price / 4 BR / 1.1 Baths / 1,721 sqft

HOME SOLD: MOST EXPENSIVE, MOST BEDROOMS, MOST PROPERTY / $10,500,000 List Price / 8 BR / 2.96 acres 7.1 Baths / 7,167 sqft

ACTIVE LISTING: MOST EXPENSIVE, LARGEST, MOST PROPERTY $25,000,000 List Price / 2.8 Acres 5 BR / 5.3 Baths / 8,400 sqft

LARGEST HOME SOLD / 7,236 sqft $4,395,000 List Price / 6 BR / 6.2 Baths

Source: HGMLS, Single Family Homes; 10580, Rye City Schools. 4Q15 (10/1/15-12/31/15); “Active” Listing refers to homes listed in 4Q.

Call Joan at 914-329-5329 or visit joanomeara.com

WHAT’SNEW

MARKETINGHIGHLIGHTHoulihan Lawrence: 2015 Unrivaled Luxury Market Leader

Luxury Market Share *Westchester County (sales above $2M)

Houlihan Lawrence 47.6%Julia B Fee/Sotheby’s 22.6%Coldwell Banker 5.9%Ginnel Real Estate 4.2%William Raveis 3.4%Platinum Drive Realty, Inc. 2.1%Douglas Elliman of Westchester 1.7%Housepad LLP <1%Prudential <1%

At a Glance: Houlihan Lawrence Westchester County Luxury Market ($2M+)

✓ HL dominates with participation in 2 out of every 3 sales

✓ HL market share exceeds the sum total of competitors

HL Advertising Highlights for 2016: Expanded Exposure Generates Traffic and Leads!o Chinese Website will increase Asian traffic visiting HL

Properties $1m+ on houlihanlawrence.com.

o Chinese Marketing Campaign targets high net worth Asian investors. Includes digital Epoch times (25 million monthly readers in China & Hong Kong), plus Chinese Messaging Platform WeChat (650 million users).

o HL presence on Streeteasy, the leading e-marketplace for NYC residential real estate (1.8 million searchers per month). HL will capture NYC buyers with HL properties featured in striking ad banners.

o Private Jet Lounge Program for Westchester County Airport & West Palm Beach. Videos and HL magazine Portfolio displayed in lounges and jets reaches affluent private jet travelers.

o World Posting Partnership showcases HL properties $1m+ on international real estate 70 sites. 40+ countries to 100+ million global buyers.

o HL Spring & Summer Emails to NYC Parent E-Newsletters (Mommy Poppins, Big City Moms & Stroller Traffic) promote suburban properties to 250,000 NYC parents.

o NY Times Real Estate Homepage Search Ad (25% share in Mar-June) creates huge exposure and traffic to HoulihanLawrence.com. NYTIMES.COM reaches 28 million monthly unique visitors.

o NY TIMES Hompage Module (5 million media impressions per week) delivers quality traffic to HL promoted properties.

o WSJ.COM and Mansion Global property search results will feature select HL listings, elevating the number of digital Journal readers exposed to the properties. (20.9 million WSJ digital readers.)

o Google Remarketing, generates HL traffic and leads through ads to houlihanlawrence.com visitors in the past 30 days.

o Other digital outreach to reach affluent, online readers.

o Full-page NYTimes & Mansion/WSJ newsprint ads reach most influential, affluent traditional readers.

Houlihan Lawrence 47.6%

*Dollar volume, Closed sales, $2M+, Westchester County, SFH, January 1, 2015 - December 31, 2015

4Q15 (10/1/15-12/31/15); “Active” Listing refers to homes listed in 4Q.

Source: HGMLS: Single Family, 10580, Active as of 1/7/16, Contract and Sold 4Q (10/1/15-12/31/15). Includes all houses in 10580 zip code. Note: All prices indicated are LIST PRICES. If your home is currently listed for sale, this is not a solicitation. Not responsible for typos; information provided is deemed accurate.

PRSRT STDUS POSTAGE

PAIDWHITE PLAINS, NYPERMIT #2101

16 Elm Place • Rye, New York 10580

Volume 11 / Issue 4• Latest Rye Sales & Listings Stats • Looking Back, Looking Forward/Likely Trends in 2016

22 21 4 3 2 3

85 99 130 99 78 200

$2,302,818 $1,658,098 $2,640,000 $1,995,000 $1,546,500 $2,940,500

$2,161,182 $1,629,779 $2,439,375 $1,875,000 $1,500,000 $2,623,000

3,531 2,815 3,605 3,753 3,285 7,499

$600 $582 $705 $535 $470 $383

4Q 2015 Rye Single Family Housing Sales Summary

RYE CITY / 10580 4Q15 4Q14

RYE NECK / 10580 4Q15 4Q14

HARRISON / 10580

4Q15 4Q14

# of Homes Sold

Avg Days on Market

Avg List Price

Avg Sold Price

Avg Sq Footage

Avg Price/Sq Ft

Are you reading Joan’s blog? Sign up at www.joanomeara.com

Wall Street Journal/Real Trends 2015 Ranking names Joan O’Meara in Top 20% of Top 1000 agents nationwide.

RANKED #1 IN RYE FOR 2015

TOP 10 IN WESTCHESTER COUNTY 5 Years Running!

Includes all houses in 10580 zip code; broken out by school district.Source: HGMLS; Single Family Homes; 10/1/14-12/31/14, 10/1/15-12/31/15

JOAN O’MEARA&TEAM