Q2 2017 REALTY CHECK

VOLUME 13, ISSUE 2

Rye Brokerage16 Elm Place, Rye, NY 10580

# OF HOMES SOLD

AVG. DAYS ON MARKET

AVG. LIST PRICE

AVG. SALE PRICE

AVG. SQFT

AVG. PRICE PER SQFT

7

138

$2,182,857

$2,073,929

5,583

$369.57

53

101

$2,360,811

$2,271,132

3,646

$621.45

7

82

$1,539,057

$1,460,571

3,355

$439.74

Rye City | 10580 Rye Neck | 10580 Harrison | 10580

4.1.17-6.30.17 4.1.17-6.30.174.1.17-6.30.17 4.1.16-6.30.16 4.1.16-6.30.164.1.16-6.30.16 % CHANGE% CHANGE % CHANGE

2

28

$2,995,000

$2,925,000

6,566

$443.01

54

76

$2,292,822

$2,209,037

3,305

$600.31

2

86

$1,824,500

$1,792,500

6,519

$287.58

250.0%

392.9%

-27.1%

-29.1%

-15.0%

-16.6%

-1.9%

32.9%

3.0%

2.8%

10.3%

3.5%

250.0%

-4.7%

-15.6%

-18.5%

-48.5%

52.9%

Q2 2017 | Single Family Sales in 10580 School Districts

Q2 2017 | HL Luxury Market Snapshot

Joan O’Meara & Team: Joan, Tom, Katie, and Mary

Joan O’MearaAssociate Real Estate BrokerHoulihan Lawrence Rye BrokerageM: 914.329.5329 | O: 914.967.7680 x 300jomeara@houlihanlawrence.com | joanomeara.com

#1 Agent in RyeIN 2011, 2012, 2014, 2015, 2016

REAL Trends “The Thousand”IN 2013, 2014, 2015, 2017 (Top 250 in US - Sales Volume)

• Luxury homes sales in Westchester County $2M+ showed double-digit gains in Q2 and year-to-date.

• Westchester County luxury homes sales from $3M to $4.9M increased nearly 50%.

• The median sale price of luxury homes ($2M+) in Rye City reached $2,820,000.

Source: HGMLS single family homes sold in Rye City, Rye Neck and Harrison School Districts in 10580 from 4.1.17-6.30.17 vs. 4.1.16-6.30.16. Number One Agent 2011, 2012, 2014, 2015, 2016 full yrs total volume sold in Rye City School District. Information deemed accurate but not guaranteed. Please disregard if you are working with another broker.

Written by C. Anderson, Contributed by Joan O’Meara, excerpts from Inman, April 2017

Zillow has become increasingly visible in today’s real estate marketplace. Yet as Joan O’Meara, Associate Real Estate Broker with Houlihan Lawrence’s Rye and Harrison office informs, “In order to make a full evaluation including Zillow alongside traditional realtors, Sellers and Buyers must fully understand how its listing prices or ‘Zestimates’ are created.”

Zillow uses a value calculation mechanism yielding prices that are low or high since the home’s condition and/or any upgrades may be excluded. It also doesn’t fall under the governing body of the MLS, which identifies recent area sales. So even when Buyers look at Zillow estimates, it is important to rely on local experts to advise on accuracy before any purchase decision is made. A glimpse at some of the key questions Sellers need to ask.

HAVE YOU CLAIMED YOUR HOUSE ON ZILLOW? Zestimate data comes from primary sources like the assessor’s office. If an owner has not claimed the home, Zillow’s knowledge of the property may be missing current data – increasing the potential for inaccuracy.

HAS ZILLOW BEEN INSIDE YOUR HOUSE? There’s a reason appraisers visit properties. O’Meara tours a home, calculates local comps, and has up-to-the minute research and market knowledge. Zillow does no touring and updated info is unlikely. O’Meara explains, “An experienced agent can put a value on what sells today from a location and overall feel. Zillow cannot offer that intangible nuance.”

WHAT DO THE BUYERS, NOT ZILLOW, THINK? O’Meara believes value comes down to what a Buyer thinks the house is worth. Unfortunately, Zillow can confuse a Seller or Buyer who may not realize how the numbers are compiled.

CAN THE INTERNET BE THE FIRST STEP? Internet driven Zestimates can be used as a starting point for the potential pricing of a property. Layering in tools and expertise of a locally-based realtor will give the Seller the best foot forward with a price that matches what a Buyer will pay today.

WHY DOESN’T THE ZESTIMATE ALIGN WITH THE REALTORS’ PRICES? Talking to an agent to find out why the numbers are out of alignment will give Sellers the opportunity to engage with the realtor and find out more.

Joan O’Meara’s advice remains the same. Going with the highest list price can lead you down a bumpy path. By partnering with the right agent and team, Sellers benefit from marketing know-how to gain maximum property exposure, while integrating relevant market knowledge on pricing/negotiating. This yields a smooth, successful transaction -- with the best price in the shortest amount of time.

For the full article with all 10 questions, please visit www.joanomeara.com - Real Estate News.

Understanding a “Zestimate” in Today’s Competitive Marketplace | Joan O’Meara Weighs in on 10 Key Questions Sellers Need to Ask

Q2 2017 REALTY CHECK

VOLUME 13, ISSUE 2

Rye Brokerage16 Elm Place, Rye, NY 10580

# OF HOMES SOLD

AVG. DAYS ON MARKET

AVG. LIST PRICE

AVG. SALE PRICE

AVG. SQFT

AVG. PRICE PER SQFT

7

138

$2,182,857

$2,073,929

5,583

$369.57

53

101

$2,360,811

$2,271,132

3,646

$621.45

7

82

$1,539,057

$1,460,571

3,355

$439.74

Rye City | 10580 Rye Neck | 10580 Harrison | 10580

4.1.17-6.30.17 4.1.17-6.30.174.1.17-6.30.17 4.1.16-6.30.16 4.1.16-6.30.164.1.16-6.30.16 % CHANGE% CHANGE % CHANGE

2

28

$2,995,000

$2,925,000

6,566

$443.01

54

76

$2,292,822

$2,209,037

3,305

$600.31

2

86

$1,824,500

$1,792,500

6,519

$287.58

250.0%

392.9%

-27.1%

-29.1%

-15.0%

-16.6%

-1.9%

32.9%

3.0%

2.8%

10.3%

3.5%

250.0%

-4.7%

-15.6%

-18.5%

-48.5%

52.9%

Q2 2017 | Single Family Sales in 10580 School Districts

Q2 2017 | HL Luxury Market Snapshot

Joan O’Meara & Team: Joan, Tom, Katie, and Mary

Joan O’MearaAssociate Real Estate BrokerHoulihan Lawrence Rye BrokerageM: 914.329.5329 | O: 914.967.7680 x 300jomeara@houlihanlawrence.com | joanomeara.com

#1 Agent in RyeIN 2011, 2012, 2014, 2015, 2016

REAL Trends “The Thousand”IN 2013, 2014, 2015, 2017 (Top 250 in US - Sales Volume)

• Luxury homes sales in Westchester County $2M+ showed double-digit gains in Q2 and year-to-date.

• Westchester County luxury homes sales from $3M to $4.9M increased nearly 50%.

• The median sale price of luxury homes ($2M+) in Rye City reached $2,820,000.

Source: HGMLS single family homes sold in Rye City, Rye Neck and Harrison School Districts in 10580 from 4.1.17-6.30.17 vs. 4.1.16-6.30.16. Number One Agent 2011, 2012, 2014, 2015, 2016 full yrs total volume sold in Rye City School District. Information deemed accurate but not guaranteed. Please disregard if you are working with another broker.

Written by C. Anderson, Contributed by Joan O’Meara, excerpts from Inman, April 2017

Zillow has become increasingly visible in today’s real estate marketplace. Yet as Joan O’Meara, Associate Real Estate Broker with Houlihan Lawrence’s Rye and Harrison office informs, “In order to make a full evaluation including Zillow alongside traditional realtors, Sellers and Buyers must fully understand how its listing prices or ‘Zestimates’ are created.”

Zillow uses a value calculation mechanism yielding prices that are low or high since the home’s condition and/or any upgrades may be excluded. It also doesn’t fall under the governing body of the MLS, which identifies recent area sales. So even when Buyers look at Zillow estimates, it is important to rely on local experts to advise on accuracy before any purchase decision is made. A glimpse at some of the key questions Sellers need to ask.

HAVE YOU CLAIMED YOUR HOUSE ON ZILLOW? Zestimate data comes from primary sources like the assessor’s office. If an owner has not claimed the home, Zillow’s knowledge of the property may be missing current data – increasing the potential for inaccuracy.

HAS ZILLOW BEEN INSIDE YOUR HOUSE? There’s a reason appraisers visit properties. O’Meara tours a home, calculates local comps, and has up-to-the minute research and market knowledge. Zillow does no touring and updated info is unlikely. O’Meara explains, “An experienced agent can put a value on what sells today from a location and overall feel. Zillow cannot offer that intangible nuance.”

WHAT DO THE BUYERS, NOT ZILLOW, THINK? O’Meara believes value comes down to what a Buyer thinks the house is worth. Unfortunately, Zillow can confuse a Seller or Buyer who may not realize how the numbers are compiled.

CAN THE INTERNET BE THE FIRST STEP? Internet driven Zestimates can be used as a starting point for the potential pricing of a property. Layering in tools and expertise of a locally-based realtor will give the Seller the best foot forward with a price that matches what a Buyer will pay today.

WHY DOESN’T THE ZESTIMATE ALIGN WITH THE REALTORS’ PRICES? Talking to an agent to find out why the numbers are out of alignment will give Sellers the opportunity to engage with the realtor and find out more.

Joan O’Meara’s advice remains the same. Going with the highest list price can lead you down a bumpy path. By partnering with the right agent and team, Sellers benefit from marketing know-how to gain maximum property exposure, while integrating relevant market knowledge on pricing/negotiating. This yields a smooth, successful transaction -- with the best price in the shortest amount of time.

For the full article with all 10 questions, please visit www.joanomeara.com - Real Estate News.

Understanding a “Zestimate” in Today’s Competitive Marketplace | Joan O’Meara Weighs in on 10 Key Questions Sellers Need to Ask

ON THE MARKET

14 Lake Road, Rye | $3,575,000 | Webcode AD1381365Enviably perched high on the bank of Van Amringe Pond to take full advantage of incredible water views and sunsets, this English-style residence has been meticulously renovated.

ON THE MARKET15 Sky Meadow Farm, Purchase | $2,975,000 Webcode AD1406488

ON THE MARKET287 Rye Beach, Rye | $1,685,000 Webcode AD1409884

ON

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86 Soundview Avenue15 Harbor Terrace Drive304 Rye Beach Avenue1 Ormond Place9 Wainwright Street555 Milton Road16 Vale Place2 Glen Oaks Drive21 Beck Avenue5 John Jay Place287 Rye Beach Avenue9 Fairway Avenue45 Walker Avenue5 Norman Drive11 Florence Avenue72 Claremont Avenue45 Centre Street34 Seville Avenue155 Locust Avenue4 Boxwood Lane29 Colby Avenue164 Grandview Avenue48 Biltmore Avenue2 Hillside Place16 Convent Lane6 Lakeside Drive12 Bennett Street16 Valleyview Avenue508 Brevoort Lane65 Rye Road16 Ridgewood Drive11 Flagler Drive265 Locust Avenue111 Bellevue Avenue14 Shore Road14 Lake Road205 Grace Church Street360 Grace Church Street10 Sound Road46 Biltmore Avenue17 Boxwood Lane8 Flagler Drive4 Watson Court30 Club Road1 Laurel Wood Court4 Sackett Landing140 Forest Avenue6 Island Drive3 Club Road

9 Rosemere Street32 Orchard Avenue17 Fairlawn Street2 Harding Drive18 Greenhaven Road15 Greenway Road227 Locust Avenue12 Mohawk Street4 Fairlawn Court19 Everett Street1 Iroquois Street14 Pine Lane3 Stonegate Lane468 Grace Church Street55 Hewlett Avenue93 Central Avenue15 Davis Avenue41 Manursing Avenue24 Guelisten Place8 White Birch Drive6 Dalphin Drive431 Grace Church Street60 Manursing Avenue

2 Adelaide Street49 Oakwood Avenue10 Pheasant Drive26 Loewen Court260 Brevoort Lane19 Loewen Court20 Hunt Place350 Rye Beach Avenue50 Hill Street10 Bennett Street2 John Jay Place102 Florence Avenue396 Oakland Beach Avenue61 Osborn Road40 Mendota Avenue66 Mendota Avenue24 Redfield Street9 Ridgewood Drive14 Mount Holly Drive20 Onondaga Street8 Boxwood Lane466 Park Avenue81 Osborn Road770 Forest Avenue35 Howard Place439 Park Avenue1 Puritan Road

191624621656235822881764212219342705320933272221342344524000415231503933533542563959528161174196666159154043382743745486675173505942507848966832778824204789523969449153512268461295246868065586613658

11732010194828373530376621882056297829064081320953003955416648565214425842385083356381799059

169916903426263036032550205221322614250634922979229830702966404632153857419038016899564947443743430059057500

3/1.05/2.13/2.03/2.16/2.14/2.04/3.04/3.05/3.14/2.14/3.14/3.05/4.15/4.15/4.16/4.14/3.16/4.16/4.15/4.25/4.16/4.26/5.15/4.17/6.25/5.15/4.15/3.15/4.15/4.16/5.25/6.15/4.15/4.24/4.26/6.15/5.14/3.06/5.25/5.16/5.26/6.16/4.16/5.27/8.24/3.17/8.15/4.18/9.3

3/1.04/2.04/2.13/2.14/3.15/3.13/2.14/2.13/2.14/2.16/4.14/2.25/4.14/3.06/4.06/5.16/4.15/4.16/4.26/5.15/4.18/5.27/7.1

4/2.04/1.13/3.14/2.15/3.14/2.14/2.04/2.13/3.03/3.15/4.25/3.14/2.14/3.15/3.05/4.16/4.26/3.14/4.16/5.15/5.26/5.16/4.24/3.05/5.15/5.17/7.1

$995,000$1,195,000$1,200,000$1,295,000$1,320,000$1,345,000$1,350,000$1,450,000$1,675,000$1,749,000$1,749,000$1,875,000$1,899,000$2,150,000$2,175,000$2,195,000$2,195,000$2,295,000$2,349,000$2,550,000$2,595,000$2,675,000$2,690,000$2,795,000$2,795,000$2,895,000$2,985,000$2,995,000$3,195,000$3,195,000$3,195,000$3,300,000$3,395,000$3,425,000$3,500,000$3,575,000$3,650,000$3,750,000$3,795,000$3,795,000$3,999,000$4,800,000$4,995,000$5,425,000$5,995,000$6,500,000$6,995,000$7,495,000$9,750,000

$825,000$955,000$1,249,000$1,299,000$1,299,000$1,475,000$1,475,000$1,695,000$1,750,000$1,795,000$1,995,000$2,150,000$2,195,000$2,350,000$2,495,000$2,775,000$2,875,000$2,895,000$2,925,000$3,595,000$3,995,000$4,795,000$5,999,000

$950,000$999,000$1,195,000$1,299,000$1,336,500$1,349,000$1,395,000$1,475,000$1,595,000$1,599,000$1,649,000$1,695,000$1,695,000$1,790,000$1,795,000$1,850,000$1,945,000$2,050,000$2,300,000$2,650,000$2,750,000$2,795,000$2,795,000$2,945,000$2,999,999$3,100,000$3,395,000

Mike Lubin feels that the NYC market remains strong even after a slight

slowdown in 2016. The most active segment of the market across the

board is the sub $3 million category.

Records were set for the average and median apartment prices in the

second quarter, as the luxury market rebounded from a sluggish 2016.

Closings over $5 million were 41% higher than a year ago, as the pent-up

demand for these apartments was released after the presidential election.

Overall, the market saw 23% more sales than in 2016’s second quarter,

with 2,601 reported closings.

The average apartment price of $2,179,172 was 6% higher than a year ago,

while the median price rose 10% to $1,205,000. The real strength of the

market was resale apartments, as their average price rose to $1,686,224, a

9% improvement from the first quarter of 2017. While down from previous

quarter the average new development price remained above $4 million for

the fourth straight quarter.

The luxury market stalled last year, as buyers were held back by the

uncertainty of Brexit and the U.S. presidential election. But after the

election in November, buyers returned to the market leading to a sharp

pickup in closings in the second quarter.

Contact Mike Lubin via the Joan O’Meara Team for all assistance and

guidance in purchasing and selling Manhattan and Brooklyn real estate.

Source: Brown Harris Stevens 2017 Manhattan Residential Market Report Second Quarter.

NYC SpotlightQ2 10580 Samplings | Houlihan Lawrence

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60 Beverly Drive, Rye | $6,700 | Webcode AD1412544

38 Lasalle Avenue, Rye | $8,800 | Webcode AD1395029

28 Burdsall Drive, Port Chester | $579,000

62 Waters Edge, Rye | $795,000

32 Orchard Avenue, Rye | $955,000

41 Colby Avenue, Rye | $1,659,000

45 Walker Avenue, Rye | $1,899,000

14 Pine Lane, Rye | $2,150,000

24 Guelisten Place, Rye | $2,925,000

8 White Birch Drive, Rye | $3,595,000

43 Halsted Place, Rye | $4,100,000 (Not in MLS)

720 Milton Road N1C, Rye | $425,000

66 Milton Road F41, Rye | $475,000

2 Adelaide Street, Rye | $950,000

78 Orchard Avenue, Rye | $975,000

131 Oakland Ave, Harrison | $1,150,000

17 Fairlawn Street, Rye | $1,249,000

330 Milton Road, Rye | $1,295,000

345 West Street, Harrison | $1,349,000

20 Hunt Place, Rye | $1,395,000

350 Rye Beach Avenue, Rye | $1,475,000

62 Greenhaven Road, Rye | $2,199,000

55 Hewlett Avenue, Rye | $2,495,000

22 Brown Place, Harrison | $3,700

80 Elmwood Avenue, Rye | $10,250

66 Apawamis Avenue, Rye | $11,700

24 Locust Lane, Rye | $11,975

ON THE MARKET

IN CONTRACT

SOLD SOLD

RENTED

*As of 7.17.2017. All prices are list prices.

Most Expensive

$8,950,000 list price | 6,736 sqft | 4 BR & 4.2 BTH

Smallest

$379,000 list price | 704 sqft | 2 BR & 1.1 BTH

Quickest to Contract - 5 DAYS

$2,999,000 list price | 4,152 sqft | 5 BR & 4.1 BTH

Most Expensive

$14,000,000 list price | 4,964 sqft | 5 BR & 4.1 BTH

Largest

$4,895,000 list price | 8,297 sqft | 6 BR & 5.2 BTH

Most Property - 2.46 ACRES

$7,999,000 list price | 6,075 sqft | 5 BR & 5.1 BTH

Fun Facts

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Q2 2017 Team Properties | 42 Sales in 2016

As temperatures climb, many of us are taking advantage of the wonderful beaches and plentiful summer activities of Rye and Harrison. The second quarter of 2017 showed a climb in the real estate market with an increase in number of 10580 homes sold in both Rye Neck and Harrison, while Rye City remained consistent from one year ago. Rye Neck and Harrison both jumped from 2 homes to 7 homes sold for 2Q 2017 vs 2Q 2016, while Rye City yielded 53 homes sold in 2Q 2017 compared to 54 in 2Q 2016. Strongest 2Q 2017 Average Sold Price compared to 2Q 2016 was in Rye City with a 2.8% increase to $2,271,132. Average Price per Square Foot also increased in Rye City, rising 3.5% from 2Q 2016’s $600.31 to $621.45 in 2Q 2017.

When pricing your home for sale, it’s important to understand today’s competitive marketplace and how Zillow’s Zestimates fit in. See Understanding a “Zestimate” in Today’s Competitive Marketplace for the 10 Key Questions Sellers Need To Ask. As always, feel free to contact me with any real estate questions or for a complimentary market analysis of your home.

Enjoy your summer,

“Joan is knowledgeable, professional, enthusiastic and available. She and her team have helped us buy and sell many homes over the years, always protecting our best interest and negotiating the best possible terms for us. Joan’s advice is direct, sound and genuine. We’ve recommended her to many family and friends. And will continue to do so. Joan O’Meara sets the standard that most realtors seek to live up to. ” - Buyer and Seller Client

Testimonial

Dear Neighbors

Joan O'Meara

Address SqFtBd/BthPrice

ON THE MARKET

14 Lake Road, Rye | $3,575,000 | Webcode AD1381365Enviably perched high on the bank of Van Amringe Pond to take full advantage of incredible water views and sunsets, this English-style residence has been meticulously renovated.

ON THE MARKET15 Sky Meadow Farm, Purchase | $2,975,000 Webcode AD1406488

ON THE MARKET287 Rye Beach, Rye | $1,685,000 Webcode AD1409884

ON

TH

E M

AR

KE

TIN

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86 Soundview Avenue15 Harbor Terrace Drive304 Rye Beach Avenue1 Ormond Place9 Wainwright Street555 Milton Road16 Vale Place2 Glen Oaks Drive21 Beck Avenue5 John Jay Place287 Rye Beach Avenue9 Fairway Avenue45 Walker Avenue5 Norman Drive11 Florence Avenue72 Claremont Avenue45 Centre Street34 Seville Avenue155 Locust Avenue4 Boxwood Lane29 Colby Avenue164 Grandview Avenue48 Biltmore Avenue2 Hillside Place16 Convent Lane6 Lakeside Drive12 Bennett Street16 Valleyview Avenue508 Brevoort Lane65 Rye Road16 Ridgewood Drive11 Flagler Drive265 Locust Avenue111 Bellevue Avenue14 Shore Road14 Lake Road205 Grace Church Street360 Grace Church Street10 Sound Road46 Biltmore Avenue17 Boxwood Lane8 Flagler Drive4 Watson Court30 Club Road1 Laurel Wood Court4 Sackett Landing140 Forest Avenue6 Island Drive3 Club Road

9 Rosemere Street32 Orchard Avenue17 Fairlawn Street2 Harding Drive18 Greenhaven Road15 Greenway Road227 Locust Avenue12 Mohawk Street4 Fairlawn Court19 Everett Street1 Iroquois Street14 Pine Lane3 Stonegate Lane468 Grace Church Street55 Hewlett Avenue93 Central Avenue15 Davis Avenue41 Manursing Avenue24 Guelisten Place8 White Birch Drive6 Dalphin Drive431 Grace Church Street60 Manursing Avenue

2 Adelaide Street49 Oakwood Avenue10 Pheasant Drive26 Loewen Court260 Brevoort Lane19 Loewen Court20 Hunt Place350 Rye Beach Avenue50 Hill Street10 Bennett Street2 John Jay Place102 Florence Avenue396 Oakland Beach Avenue61 Osborn Road40 Mendota Avenue66 Mendota Avenue24 Redfield Street9 Ridgewood Drive14 Mount Holly Drive20 Onondaga Street8 Boxwood Lane466 Park Avenue81 Osborn Road770 Forest Avenue35 Howard Place439 Park Avenue1 Puritan Road

191624621656235822881764212219342705320933272221342344524000415231503933533542563959528161174196666159154043382743745486675173505942507848966832778824204789523969449153512268461295246868065586613658

11732010194828373530376621882056297829064081320953003955416648565214425842385083356381799059

169916903426263036032550205221322614250634922979229830702966404632153857419038016899564947443743430059057500

3/1.05/2.13/2.03/2.16/2.14/2.04/3.04/3.05/3.14/2.14/3.14/3.05/4.15/4.15/4.16/4.14/3.16/4.16/4.15/4.25/4.16/4.26/5.15/4.17/6.25/5.15/4.15/3.15/4.15/4.16/5.25/6.15/4.15/4.24/4.26/6.15/5.14/3.06/5.25/5.16/5.26/6.16/4.16/5.27/8.24/3.17/8.15/4.18/9.3

3/1.04/2.04/2.13/2.14/3.15/3.13/2.14/2.13/2.14/2.16/4.14/2.25/4.14/3.06/4.06/5.16/4.15/4.16/4.26/5.15/4.18/5.27/7.1

4/2.04/1.13/3.14/2.15/3.14/2.14/2.04/2.13/3.03/3.15/4.25/3.14/2.14/3.15/3.05/4.16/4.26/3.14/4.16/5.15/5.26/5.16/4.24/3.05/5.15/5.17/7.1

$995,000$1,195,000$1,200,000$1,295,000$1,320,000$1,345,000$1,350,000$1,450,000$1,675,000$1,749,000$1,749,000$1,875,000$1,899,000$2,150,000$2,175,000$2,195,000$2,195,000$2,295,000$2,349,000$2,550,000$2,595,000$2,675,000$2,690,000$2,795,000$2,795,000$2,895,000$2,985,000$2,995,000$3,195,000$3,195,000$3,195,000$3,300,000$3,395,000$3,425,000$3,500,000$3,575,000$3,650,000$3,750,000$3,795,000$3,795,000$3,999,000$4,800,000$4,995,000$5,425,000$5,995,000$6,500,000$6,995,000$7,495,000$9,750,000

$825,000$955,000$1,249,000$1,299,000$1,299,000$1,475,000$1,475,000$1,695,000$1,750,000$1,795,000$1,995,000$2,150,000$2,195,000$2,350,000$2,495,000$2,775,000$2,875,000$2,895,000$2,925,000$3,595,000$3,995,000$4,795,000$5,999,000

$950,000$999,000$1,195,000$1,299,000$1,336,500$1,349,000$1,395,000$1,475,000$1,595,000$1,599,000$1,649,000$1,695,000$1,695,000$1,790,000$1,795,000$1,850,000$1,945,000$2,050,000$2,300,000$2,650,000$2,750,000$2,795,000$2,795,000$2,945,000$2,999,999$3,100,000$3,395,000

Mike Lubin feels that the NYC market remains strong even after a slight

slowdown in 2016. The most active segment of the market across the

board is the sub $3 million category.

Records were set for the average and median apartment prices in the

second quarter, as the luxury market rebounded from a sluggish 2016.

Closings over $5 million were 41% higher than a year ago, as the pent-up

demand for these apartments was released after the presidential election.

Overall, the market saw 23% more sales than in 2016’s second quarter,

with 2,601 reported closings.

The average apartment price of $2,179,172 was 6% higher than a year ago,

while the median price rose 10% to $1,205,000. The real strength of the

market was resale apartments, as their average price rose to $1,686,224, a

9% improvement from the first quarter of 2017. While down from previous

quarter the average new development price remained above $4 million for

the fourth straight quarter.

The luxury market stalled last year, as buyers were held back by the

uncertainty of Brexit and the U.S. presidential election. But after the

election in November, buyers returned to the market leading to a sharp

pickup in closings in the second quarter.

Contact Mike Lubin via the Joan O’Meara Team for all assistance and

guidance in purchasing and selling Manhattan and Brooklyn real estate.

Source: Brown Harris Stevens 2017 Manhattan Residential Market Report Second Quarter.

NYC SpotlightQ2 10580 Samplings | Houlihan Lawrence

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60 Beverly Drive, Rye | $6,700 | Webcode AD1412544

38 Lasalle Avenue, Rye | $8,800 | Webcode AD1395029

28 Burdsall Drive, Port Chester | $579,000

62 Waters Edge, Rye | $795,000

32 Orchard Avenue, Rye | $955,000

41 Colby Avenue, Rye | $1,659,000

45 Walker Avenue, Rye | $1,899,000

14 Pine Lane, Rye | $2,150,000

24 Guelisten Place, Rye | $2,925,000

8 White Birch Drive, Rye | $3,595,000

43 Halsted Place, Rye | $4,100,000 (Not in MLS)

720 Milton Road N1C, Rye | $425,000

66 Milton Road F41, Rye | $475,000

2 Adelaide Street, Rye | $950,000

78 Orchard Avenue, Rye | $975,000

131 Oakland Ave, Harrison | $1,150,000

17 Fairlawn Street, Rye | $1,249,000

330 Milton Road, Rye | $1,295,000

345 West Street, Harrison | $1,349,000

20 Hunt Place, Rye | $1,395,000

350 Rye Beach Avenue, Rye | $1,475,000

62 Greenhaven Road, Rye | $2,199,000

55 Hewlett Avenue, Rye | $2,495,000

22 Brown Place, Harrison | $3,700

80 Elmwood Avenue, Rye | $10,250

66 Apawamis Avenue, Rye | $11,700

24 Locust Lane, Rye | $11,975

ON THE MARKET

IN CONTRACT

SOLD SOLD

RENTED

*As of 7.17.2017. All prices are list prices.

Most Expensive

$8,950,000 list price | 6,736 sqft | 4 BR & 4.2 BTH

Smallest

$379,000 list price | 704 sqft | 2 BR & 1.1 BTH

Quickest to Contract - 5 DAYS

$2,999,000 list price | 4,152 sqft | 5 BR & 4.1 BTH

Most Expensive

$14,000,000 list price | 4,964 sqft | 5 BR & 4.1 BTH

Largest

$4,895,000 list price | 8,297 sqft | 6 BR & 5.2 BTH

Most Property - 2.46 ACRES

$7,999,000 list price | 6,075 sqft | 5 BR & 5.1 BTH

Fun Facts

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Q2 2017 Team Properties | 42 Sales in 2016

As temperatures climb, many of us are taking advantage of the wonderful beaches and plentiful summer activities of Rye and Harrison. The second quarter of 2017 showed a climb in the real estate market with an increase in number of 10580 homes sold in both Rye Neck and Harrison, while Rye City remained consistent from one year ago. Rye Neck and Harrison both jumped from 2 homes to 7 homes sold for 2Q 2017 vs 2Q 2016, while Rye City yielded 53 homes sold in 2Q 2017 compared to 54 in 2Q 2016. Strongest 2Q 2017 Average Sold Price compared to 2Q 2016 was in Rye City with a 2.8% increase to $2,271,132. Average Price per Square Foot also increased in Rye City, rising 3.5% from 2Q 2016’s $600.31 to $621.45 in 2Q 2017.

When pricing your home for sale, it’s important to understand today’s competitive marketplace and how Zillow’s Zestimates fit in. See Understanding a “Zestimate” in Today’s Competitive Marketplace for the 10 Key Questions Sellers Need To Ask. As always, feel free to contact me with any real estate questions or for a complimentary market analysis of your home.

Enjoy your summer,

“Joan is knowledgeable, professional, enthusiastic and available. She and her team have helped us buy and sell many homes over the years, always protecting our best interest and negotiating the best possible terms for us. Joan’s advice is direct, sound and genuine. We’ve recommended her to many family and friends. And will continue to do so. Joan O’Meara sets the standard that most realtors seek to live up to. ” - Buyer and Seller Client

Testimonial

Dear Neighbors

Joan O'Meara

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