As we all know, the Real Estate Market is cyclical. There are buyer’s markets and seller’s markets. But those terms are in a broad sense.
Through my time working selling property in Westchester County, I have also seen that from time to time some towns defy the trends of the broader market and march to the beat of a different drum. I saw that last year in regard to home values in Scarsdale and I’m seeing it recently in regard to property values in Chappaqua.
For whatever reason, Chappaqua at the moment is a Buyers Market. Properties are sitting longer than they normally would have in the past and homes that need renovations are barely moving at all.
But why? That is hard to put a finger on.
Could it be the Westchester Property taxes? That is unlikely as property taxes are high throughout the County, not just here.
Commute? Nope, Chappaqua is located in the same spot it was when the market here was hot.
Schools? Unlikely, the Rankings Speak for themselves.
I don’t know what it is, but it doesn’t matter. This town, like many others before it is just in a temporary gully. And buyers may want to take advantage.
Why?
1) The Schools
2) The commute to the city, which is just mildly longer as compared to towns below 287 when you take into account distance from the train station.
3) Buyers receive WAY more property for their money when compared to towns such as Rye and Scarsdale.
4) A wide variety of home types and sizes.
5) Convenient location as related to major job centers, shopping areas, and commerce.
The items listed above are just very few out of many. I am personally of the opinion that the depressed values in Chappaqua present a rare value and a prime buying opportunity in an incredible town.
Let me give you a tour of my home town.
Need more incentive? I’ll pay you for it by granting a generous broker commission rebate.