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2021 City of Greenburgh Actual Property Report for Single-Household Residences

Welcome Properties Worth Rating: 8.7 

Greenburgh is without doubt one of the extra aggressive housing markets in Westchester County, with houses promoting sooner than they did a yr in the past. However with houses nonetheless promoting beneath record worth — stunning amidst a nationwide housing scarcity — it’s by no means been a greater time to purchase within the space. 

Greenburgh Dwelling Values 

In keeping with information from Redfin.com, the median worth for a single-family residence in Greenburgh is $770,000 as of April 2021. That is up 9.2% from final yr, however the absorption fee, the variety of homes offered from the overall provide, is simply 33.9%. In comparison with the nationwide common of 96%, this implies that Greenburgh is way more appropriate to patrons.

Median sale worth for a single-family residence in Greenburgh, $770,000, versus nationwide common of $390,000, in response to Redfin information for April 2021

Throughout the surrounding space, the median sale worth for a single-family residence in Greenburgh is 24% increased than the New York metro space and 79% increased than New York state. Nevertheless, seasonality seems to affect the shopping for market in Westchester County, the place Greenburgh is situated. Over the past 5 years, median residence costs soared through the summer season months, based mostly on RedFin information. These seeking to purchase a home in Greenburgh may get a greater deal through the fall and winter.

Median sale worth for a single-family residence in Westchester in comparison with NY state, New York metro space and nationwide common, from January 2016- March 2021, in response to Redfin information

What’s extra, based mostly on Redfin.com information, this previous April, houses in Greenburgh offered for a mean of 1.2% beneath their asking worth. That is in stark distinction to the remainder of the nation, the place, nationally, 40% of houses are promoting for over itemizing worth, in response to RedFin. Regardless of a nationwide housing provide squeeze, Greenburgh county seems to be one of many few purchaser’s markets within the nation. 

Greenburgh Housing Inventory

Zillow and Realtor.com information, new development accounts for six% of the out there houses on the market, and open tons encompass one other 8.6%. In brief: the housing market in Greenburgh is basically pushed by present residence gross sales. Nevertheless, there are barely extra plots for brand spanking new development in comparison with the county common.

Greenburgh is situated in Westchester County, which has one of many highest median residence ages within the nation at 61 years. In different phrases, most present houses within the space are older and presumably require extra renovation to fulfill a contemporary homebuyer’s wants. 

In keeping with census information, 88.8% of individuals dwelling in Greenburgh reside in the identical home as they did a yr in the past — suggesting that almost all who reside within the county have a tendency to remain put slightly than repeatedly transfer. Nevertheless, on common, single-family houses in Greenburgh spend about 39 median days available on the market, a lower from final yr’s median of 68 days, however nonetheless increased than the present nationwide common of 24 days reported by RedFin.

Greenburgh Location, Faculties, and Air

High quality Two Metro-North commuter prepare traces service Greenburgh. In keeping with U.S. census information, throughout the 7 Metro North stations within the city, the imply commute time is 35 minutes, shorter than close by New York Metropolis’s 41 minute imply commute time. 

Greenburgh touts each good colleges and protected cities. Primarily based on information from Zillow, there are 7 colleges in Greenburgh with rankings of 8 or increased. Metropolis-data.com figures, Greenburgh has a criminal offense fee rating of 73 — 3 times smaller than the nationwide common. Throughout the final 5 years, Greenburgh has seen a decline in violent and property crime. 

Regardless of its proximity to one of the crucial populous cities within the nation, in response to EPA information, Greenburgh enjoys a median Air High quality Index of 36, which is taken into account “good.” In 2020, Greenburgh noticed 327 “good” air high quality days, 35 “reasonable” days, and only one day thought-about “unhealthy for delicate teams.”

Taxes in Greenburgh

Usually, in response to a WalletHub rating, New York state has one of many highest property tax charges within the nation, rating forty third at 1.72%. 

Property taxes in Westchester County are extremely variable relying on location. Primarily based on county information, the median basic levy tax per $1,000 is $32.16. Nevertheless, the typical is almost triple that at $85.92. Regardless of the variability, Westchester nonetheless has one of many highest property tax charges within the state. 

Outdoors of property taxes, the typical revenue tax fee is 26.83% and the efficient gross sales tax in Westchester County is 8.38%. On common, Greenburgh residents contribute 39% of their revenue to taxes.

Contemplating shopping for in Greenburgh?

Shopping for a house generally is a complicated, tough expertise, with 40% of People contemplating homebuying probably the most nerve-racking occasion in trendy life. 

Welcome Properties is the first-of-its-kind on-line residence constructing platform, designed to show residence patrons into residence builders by making a extra seamless and worth clear residence shopping for course of. 

The Welcome Properties platform streamlines the method for brand spanking new residence patrons and permits them to construct the house of their desires inside six months for a assured locked-in worth.

Interested by what Welcome Properties can do for you in Westchester County? Request a session right now. 

The Welcome Properties Worth Rating is calculated based mostly on college district ranking, crime fee, tax fee, residence worth, residence worth progress, residence gross sales in comparison with record worth, median residence age, and commute time.

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