On the Market – 94
In Contract – 7
Fifty nine single family homes have sold in the past six months in Rye City, compared to ninety five during the same time period last year. Fourteen or 76 1/4% of the sales were under $1,000,000 for an average price of $768,036, while forty five or 23 3/4% of the sales were over the $1,000,000 mark for an average sales price of $2,314,400.
As you can see below, sales are down from last year, but the past 3 months sales in Rye (since the credit crisis) are nearly half of 2007. Prices have remained steady to slightly higher year to year as a whole but are starting to level off since September. Slightly more homes have been rented but the average rental price has dipped. Will the buyers come out of hiding in 2009 if the U.S. plans to push down interest rates to spur homes sales, as per a recent Wall Street Journal article?
Rye Quick Facts:
- YTD Sales: 162 Homes at an avg sales price of $1,841,985.
- September to November Sales: 27 homes at an avg sales price of $2,010,074.
- YTD Rentals (homes): 78 Homes at an average rental price of $7,939.
- YTD Sales: 111 Homes at an avg sales price of $1,930,302.
- September to November Sales: 16 Homes at an avg sales price of $1,847,656.
- YTD Rentals (homes): 83 Homes at an average rental price of $6,245.
*Source: WPMLS, Zip 10580, RCSD & RNSD only, up to 11/30/08.
Best Places for Singles to Rent in Rye
You know from last month's post that the rental market is strong for private homes, but what about rental apartments? MyRye.com's Social Scene columnist, Pamela Baur, assures me that Purchase Street is still where the action is for singles. You can stroll down to Ruby's Oyster Bar or The Pub from one of my favorite complexes, The Gardens at Rye, at 130 Theodore Fremd Avenue. Two story brick garden apartments surround an intimate courtyard with a gazebo, and a communal lower level laundry room and storage facility making it easy to get to know your neighbors (think Melrose Place). For $2,200/month to rent, you can move right into #M1, a lovely 2 bedroom, one bath unit with a renovated kitchen. Dog lover? Bring your furry roommate over to 259 Purchase Street to a spacious 2 bedroom, 2 bath, 2 year old living space over Pet Pantry– granite counters and cherry floors complement this bright space for $2,950/month, and offers a central in town location with free parking in the store lot.
Outdoorsy type? Head over to Rye Town Beach where a 3 bedroom, 2 bath contemporary beach cottage on Ridgeland Manor recently rented for $3,100/month or walk on to Rye Golf Club and play a few holes from a cul de sac home on the 3rd green at 9 Eldredge Court ($7800/month) or from private homes for rent on Soundview Avenue, one of my favorite Rye streets. Currently, you can rent a a four bedroom renovated home at 186 Soundview that is available for $5,200/month (short or long term) on this quiet street with golf course and winter water views. Some smaller properties on the street have rented in the high $2,000-$3,000s/month range.
If you want to get away from the hustle and bustle of town but are still looking for a comfortable burger and beer, you can head over to Kelly's Sea Level from Manursing Lodge, a lovely Tudor Style building at 6 Davis Avenue, where a 2 bedroom, 1 bath recently rented for $2,300/month, or from a completely renovated 3 bedroom, 2 bath cottage on Midland Avenue, that recently rented for $2,400/month.
You can find these listed rental properties (no fee) online at www.realtor.com or through a local licensed real estate agent, and search unlisted properties on websites such as www.craiglist.com, www.apartments.com, www.forrent.com, and more.