Even though New York City’s real estate is in a cooling off period, it’s still cost prohibitive for the average person to rent or buy. So many people, especially families are looking to purchase or rent in Westchester County. Almost every NYC transplant is looking for additional space at a price that is more affordable than what is available in the city. Aside from Westchester’s picturesque suburbs and Hudson river views there is a new popularity and revitalization of some bigger cities in the county such as New Rochelle, White Plains, and Yonkers. We spoke to Carmen Bauman of Green Grass Real Estate, about this trend.
“Most families moving out of the city are moving from either Brooklyn or Astoria. The average home sales price in Westchester County is around $600,000 with an average cost of $300 per sq. ft.”
– Carmen Bauman
The price tag of $300 is a steal compared to the current average cost of $1773 per sq. ft in the city. Despite being a steal compared to the city, Westchester is still more expensive than other parts of the Lower Hudson Valley. Rockland County, for example, is cheaper but doesn’t offer the superior mass transit into the city like Westchester. Despite the upward trajectory of the market in Westchester, there hasn’t been a significant pricing spike in housing, the market here is very steady.
Something for everyone
If you can’t afford the more exclusive areas like Chappaqua, don’t you worry, the more affordable cities like Ossining, Peekskill, and Mt. Kisco are further away from the city, but are way more affordable. If your search for an artsy area, Katonah, Purchase, and Pleasantville are all communities that embrace the arts. The most up and coming city is New Rochelle. It seems to have the most money being invested and will likely have a great amount of transformation in the coming years.
Are you being priced out of the city? Looking to rent or buy in Westchester?
For more information reach out to Carmen Bauman with Green Grass Real Estate.
Carmen A. Bauman, Green Grass Real Estate principal broker, is an attorney with a background in real estate and litigation. Her legal skills are a huge benefit to her clients, particularly in the often daunting negotiation stage of the home buying and selling process. Carmen’s understanding of the nuances and potential real estate issues related to the underlying transaction allows for smoother closings and provides her clients with a trusted and experienced adviser who is comfortable working closely with your real estate attorney.
Evan D. Santi, President of URBN, NYNJ.COM Home & Garden Contributor. Evan built his reputation with unique urban landscape designs and installations. His client list ranges from Park Ave on the Upper East Side to Rooftop Gardens at Housing Works in Alphabet City. His work has been seen on HGTV’s Home Rules, NBC’s The Today Show, NYFW, The Guggenheim and NBC’s Open House NYC.