Rye Real Estate May 2009 Update – Rye House Tour 2009
Market Outlook
On the Market – 136
In Contract – 21:
10 conditional contract (awaiting mortgage commitment), 11 pending
Shop Talk:
Twenty five single family homes have sold in Rye in the past six months for an average price of $1,517,768, compared to fifty two homes sold during the same time period last year for an average price of $1,884,163, so we are definitely seeing some adjustments, yet activity has picked up in every price range. The houses currently in contract run the gamut from a 1,400+ square foot 3 bedroom listed in the $500,000 range to a Milton Point mansion with expansive property listed at nearly $7,000,000. Stricter financing requirements (and higher transaction fees) continue to be a factor for potential buyers, particularly in an area like ours requiring jumbo loans. Of the 25 homes sold in the past six months, eight or 32% were under $1,000,000 sales price for an average sales price of $705,938, while seventeen or 68% sold for over $1,000,000 with a $1,899,806 average sales price.
*Information per WPMLS, zip 10580, RCSD & RNDS only, 11/7/08-5/7/09.
Rye High School PTO House Tour 2009
The RHS Parents Organization is once again organizing their annual Rye House Tour on Friday, May 15th. Five members of the Rye Community have graciously opened their "Simply Elegant" homes for viewing, as well as the 2009 Designer Showcase Home presented by Laura Tutun Interiors and HB Home and the showcase boutique, followed by a luncheon and art exhibition by EA Gallery at Rye Golf Club's Whitby Castle.
The Rye House tour raffle prizes include a kitchen consultation with Jen Howard of JWH Design & Cabinetry, a four hour consultation with Amy Swank of Swank Designs, two hours of in home organization by Lorna Gager & Linda Brill of Blissfully Organized, two hour garden consultation with Mary Beth Lubeck of Allies Landscape Design, and an in home art consultation with E.A. Dugan of EA Gallery. Tickets are $5 each or 6 for $25.00. Volunteers are still needed for the afternoon shift: contact Debbie Duarte at [email protected] to sign up.
The program runs from 9:00 a.m. to 3:00 p.m. and tickets are available at the following Rye Real Estate offices: Coldwell Banker/ Country Properties, Houlihan Lawrence, Merritt Associates, or Sothebys International Realty, or online at https://tiny.cc/Ryehousetour. Tickets for the tour alone are $45.00, and $70.00 for the Tour and Luncheon and Art Show – contact Judi Linton at 967-3496 for further information regarding tickets. Proceeds raised from the only RHS fundraiser funds scholarships and a variety of student services.
May 2009 Market Update and Article written by Judy Croughan, Licensed Realtor, Coldwell Banker Rye.
