What kind of house will $1.2 million get you in Westchester, Rockland and Putnam?
In Westchester, probably a 2,500-square-foot home built in the 1950s with four bedrooms and four bathrooms. In Rockland, a 3,200-square-foot, five-bedroom, four-bathroom house built in the 1970s. You might get a slightly bigger and newer home in Putnam, according to data from the Hudson Gateway Association of Realtors, based on the median prices of houses sold over the past six months.
The million-dollar home was once considered the height of luxury. These days, a home buyer looking in the Lower Hudson Valley can expect to pay a bit more than that for a nice, roomy four- or five-bedroom house with amenities that needs some work and is not quite luxury, as the low inventory of homes for sale continues to drive up prices.
The median single-family home price listed over the past 12 months was $860,000 in Westchester, $655,000 in Rockland and $475,000 in Putnam. It has increased about 40% since January 2020.
Still, demand remains high. Over the past year, more than half of all sales are under contract in less than 30 days from going on the market.
Joan Marks, manager at Christie’s International Real Estate Group, said houses that fall in the price range between $900,000 and $1.2 million are the most popular among buyers from New York City, mostly millennial couples with children.
“That’s kind of what the average buyers are looking for,” she said. “It’s a pretty sweet spot for Westchester, maybe a little bit high in Putnam and Rockland.”
Real estate:What $600K will get you in Westchester, Rockland, Putnam housing market
We looked at what $1.2 million will get you in six communities across the region — Pelham, White Plains, Baldwin Place in Somers, Stony Point, New City and Cold Spring.
Marks, who curated the houses, said Westchester houses at this price point usually need “a fair amount of renovation.” But buyers have high expectations on property condition.
“When you’re buying in that price point, it’s likely a family with children,” Marks said. “They kind of want to move in and not to have to make a lot of changes. Everybody wants newer than what they can afford, and they don’t want to do a lot of work. So buyers would trade land size, location potentially for condition, which is exactly the opposite of what they should do.”
She suggested that buyers should understand their priorities and get ready to make a move because properties that are well-priced sell quickly. Also, location is more important than the house itself when it comes to the property value.
“You can fix up a house over time, but location is always a key. Buying value will always last,” she said.
Here are the six homes for sale in the $1.2 million range that we reviewed. It is possible one or more could have been sold or taken off market by the time of publication.
129 Secor Lane, Pelham: Listed at $1.15 million, taxes at $20,735
Built in 1932, this 2,432-square-foot, three-bedroom, three-bathroom brick home is near a dead-end street and within a 10-minute walk to the Fairway shopping center. It has hardwood floors and updated kitchen and bathrooms. With three walls of windows, the sunroom boasts sunset views.
71 Orchard Place, White Plains: Listed at $1.2 million, taxes at $12,873
This four-bedroom, four-bathroom, 3,390-square-foot house was built in 2004. On the first floor, there is a full bath and space that can be used as an extra bedroom or family room. It has hardwood floors and a finished basement with a separate entrance.
59 Travis Road, Baldwin Place: Listed at $1.19 million, taxes at $23,000
Built in 2003, this 4,320-square-foot, four-bedroom, four-bathroom, colonial-style home is at the Preserve in Somers. It has a front porch, a backyard with a pool, a bar and an outdoor living room under a gazebo. On the first floor, there is a full bathroom and a den that can be used as an extra bedroom. Also, it has a finished basement, a formal dining and living room and a family room.
30 Zachary Taylor Street, Stony Point: Listed at $1.19 million, taxes at $21,665
Built in 2000, this four-bedroom, five-bathroom, colonial-style home is nestled within the subdivision of The Cliffs at Stony Point with mountain views. It has a two-story family room and a dining room that can accommodate “a ballroom style table and seat more than 30 people.” There is a theater, a gym, a pool room, and an outdoor pool.
46 Roberts Road, New City: Listed at $1.19 million, taxes at $27,240
Built in 1997, this four-bedroom, four-bathroom, colonial-style home is situated on a cul-de-sac. It has a suite on the first floor, an office with built-in solid wood furniture, a kitchen with high vaulted ceilings and a balcony. In the yard, there is a pool and a hot tub.
72 Billys Way, Cold Spring: Listed at $1.2 million, taxes at $17,098
This three-bedroom, four-bathroom colonial-style home was built in 2007. It is situated in a cul-de-sac at the end of a private street, 1.5 miles away from the Hudson River. The first floor has an open layout with a kitchen, a wet bar and a TV room that leads to a porch. It has three garages and a basement offering storage and space for a home gym.
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