Single-family construction in Scarsdale has experienced a revival from 2011 through the current time. During this period many older homes have been sold to builders for renovation. For certain older homes with poor floor plans, builders have demolished the homes entirely and constructed new and larger homes. These include homes with multiple additions or older homes with many smaller bedrooms that are not desirable in the current Scarsdale real estate and do not meet market acceptance. However, not all older homes are appropriate for builders to remodel or tear down. Many have poor floor plans that make renovation not economical for builders or have land impediments that prohibit the construction of a new larger home.
Nonetheless, many Scarsdale homeowners have elected to sell their property to builders. Within the Village of Scarsdale, there are many newly constructed or renovated homes. Generally, Scarsdale remodeled homes range upwards from $2,000,000 for moderate sized homes. Newly constructed homes are over 4,000 square feet and command prices from $2,450,000 depending on location.
Finding the right property and builder are key elements for the customer. At this time the high end of the market for Scarsdale new construction has eased off due to the over supply of new homes brought about by various factors. For instance there are several new five-bedroom homes available in the $2,700,000 to $3,450,00 price range. Homes in more desirable locations are on the market for a premium above this price ranges. Customers would be best served by locating an individual with knowledge of the property inventory a full year before they anticipate having their dream home constructed.
We spoke with a local Scarsdale builder who has several properties in varying stages of development from planning to construction. Currently, the builder has a 3,800 square foot colonial under contract for approximately two million dollars. Additionally, the builder has another upscale luxury home that is under construction and can be custom tailored to a purchaser’s specifications in the five million dollar price range. In this estate section, he mentioned that additional sites have recently sold in excess of two million dollars as potential building sites for estate homes in excess of four to five million dollars.
Below is a sample of some of the Scarsdale and vicinity properties that he and other builders have coming on-line in the coming months.
Potential Development Site:
Scarsdale – one acre* $2,000,000*
- Scarsdale – New Construction $ 1,800,000* (s)
- Scarsdale – New Construction $ 3,900,000* (u.c.)
- Scarsdale – New Construction $ 5,000,000* (u.c.)
- White Plains – Newly Renovated $ 635,000* (u.c.)
- White Plains – New Construction $ 1,395,000* -(u.p.)