Single Family in Tuckahoe School District Update
The numbers are in for the end of the third quarter. Tuckahoe School district is an interesting area to look at Metrics because the district is small, and often the numbers can be erratic and have large fluctuations due to the size of the general area we are looking at.
Tuckahoe has seemingly followed its own market beyond that of the Village of Bronxville and Eastchester. While Eastchester School District has been the leader in price increase trends and the supply of inventory issue, Tuckahoe has fluctuated over the past few years from sellers market to buyers market.
Tuckahoe’s median sale price is down 3.6% from last year to approximately 722,000. The median price has steadily fallen in this range. The drop would be considered marginal, nothing to get to excited about, although the supply in the area has steadily increased over the past year.
This time last year in the Tuckahoe School District we would be in a more balanced market, slightly favorable to sellers, but pretty much balanced at 5.9% Months supply of inventory on the market. Currently we are up 23% from that number are sitting on about 7.3% months supply of inventory available on the market. This inventory supply amount is favorable towards buyers for sure, indicative of a market where the buyers are going to have some inventory to choose from, and are going to be holding the sway during the negotiating process.
We find this interesting being that Tuckahoe is often considered a smaller but very similar sub section of the Town of Eastchester, which has been seeing consistent market conditions that are favorable to sellers over the past several years. It will be interesting to see if this trend is just simply something that will move into the Eastchester market and can be a sign of an overall trend in Mid Range priced homes.