On the Home Front: Still a Seller’s Market

While home prices have rocketed this year, it’s worth noting that a number of single-family homes have come on the market in the past few weeks temptingly priced under $2,000,000 — within $100,000 of the median sale price and $400,000 below the average — in the Rye City School District. 

A market overview provided to us by longtime agent Marianna Glennon of Houlihan Lawrence, shows that there are 18 active listings under that price point. As of June 16, 34 homes in that range have sold or are deep in the process. 

If you’re thinking of selling, this would appear to be the year; 161 homes have sold just in the first six months, a whopping increase over 2020 when the 12-month total was189. 

According to many Rye realtors, the bloom is not yet off the rose. Sales may have slowed slightly — even the most motivated of buyers wants to enjoy summer and post-Covid life — but Rye remains one of the most desirable towns to live in because of its open space, waterfront access, schools, and easy commute to New York City.  

There have, however, already been price reductions on homes that seemed appropriately priced.  

One realtor explained: “Because so many house hunters lost out on desirable listings in the last year, when the house they wanted went to best and highest offer within days of coming on the market and sold for over-asking, buyers have expanded their search and are looking farther afield or are just taking a time-out from searching.”  

• Robin Jovanovich