New Rochelle real estate is famous for being expensive. This almost all residential town offers over 11,000 homes and is truly the Home Town of America. In New Rochelle, you’ll find residences of all sorts, from condominiums and townhouses in the downtown area to multi-million dollar single family homes in the outlying suburbs.
Although New Rochelle, New York real estate is in the top percentages of expensive real estate in the nation, there are some affordable homes on the market right now. This is especially true with today’s market conditions! If you want to buy in New Rochelle, now is certainly the time to do it.
The median, or middle of the road, listing price in New Rochelle right now is about $500,000, down from closer to $700,000 just a year ago. The average home price is a little below that $500,000 mark because of the many condominiums for sale in the $300,000 range. Condos in the downtown area are an affordable way for singles and smaller families to move into New Rochelle and put down their roots before they venture to the larger suburban homes.
Many of the homes in the New Rochelle real estate listings are large palatial style multi-million dollar homes. Some of these homes are located right on the beach and are listed for well over $3 million. Although not all of the homes in New Rochelle fall into this category by any stretch of the imagination, this is certainly a good place to look if you want a large, luxury home.
While much of New Rochelle is already developed, you may also be able to custom build a home in the area on a piece of land that you buy. Many developers are still working on some of the suburban areas, so you may be able to get in on this trend, as well.