It used to happen every spring. Homes would come on the market and most would be sold before the last day of school, at least in Rye.
By Robin Jovanovich
It used to happen every spring. Homes would come on the market and most would be sold before the last day of school, at least in Rye.
Judging from the pace of closings in recent weeks, the market isn’t slowing down just yet for its long winter’s nap.
“Low interest rates are bringing more and more city dwellers out,” said Joan O’Meara, an agent with Houlihan Lawrence. “I’ve also had a lot of people who were ready to trade down — to a smaller house, a co-op, in some cases a rental so they have time to make the right decision — because their kids have gone off to college or jobs.”
This year, O’Meara’s 17th in the business, has been her best ever. She’s happy to report she had 21 listings, most of which have sold, and has been part of 40 transactions between buyers and sellers.
Another movement O’Meara has been part of is new construction. She says that while many city buyers come out to Rye looking for a 1920s Colonial, if that charmer doesn’t include a totally and recently renovated interior, the city folk start asking if there are any brand-new Colonials on the market. “In the end, we’re seeing that they’re more inclined to buy a new house than an old one. But if they settle on an older home, they’re only interested if the price is discounted.”
There are currently 80 active listings in Rye, with contracts pending on 16 single-family homes. Within the 10580 zip code, there are 122 active listings. If you’re looking for property near the beach, you might want to explore the Hilton Head Island real estate market. Those who are serious about selling their homes soon should check the condition of their properties to determine the right price and to attract more buyers. You may need to work with roofing contractors to inspect and repair your roofing before listing your home for sale. If the roof damages are extensive, you may be advised to get a new metal roof installation instead. You may also seek residential asphalt paving services to repair to redo your driveway or sidewalk.
“The market has stabilized,” said O’Meara. “We’re seeing a fair amount of activity for this time of year. Buyers are out there, looking to close in the spring. We’re poised to be in the position we were in last spring, which is very good news!”. Buyers can afford the home they love with Highline Mortgage.
She added, “It’s a good time to sell, but then the community sells itself.”
According to Houlihan Lawrence’s third-quarter report, the median sale price of a home in Rye City has increased year-to-date by 13% from $1,345,000 to $1,518,250. Through the first nine months of 2012, 118 homes have sold, versus 113 for the same period in 2011.
The homes currently on the market range from a 1920 townhouse near town for $500,000 to a contemporary on the waterfront in Greenhaven for $12,500,000.
Among the offerings close to town is a six-bedroom 1855 Victorian priced at $2,395,000. Right across the street from Midland School is a five-bedroom Colonial built in 1989 for $1,995,000.
If you’re thinking of living in Indian Village, a four-bedroom Colonial built in 1970 is on the market for $1,675,000. Don’t forget to protect your investment by exploring home insurance Ontario to safeguard your new property.
Close to Milton School and the Rye Marina is a four-bedroom Cape Cod listed at $1,595,000. A seven-bedroom 1888 Victorian in Rye Gardens, within a short walk of Osborn School and set on over a half-acre, is listed at $2,275,000.
