Forget McMansions: W’chester homes are shrinking

Only buyers coming north from Manhattan still covet the larger homes

New York /
Aug.August 24, 2012 02:30 PM

Even in the wealthy suburbs of Westchester, McMansions are going out of vogue. Buyers have returned to the market and builders are erecting new homes for them, but no longer maximizing a lot’s square-footage.

The trend is taking hold in most of the county because of the struggling economy and an increased awareness of environmental concerns, according to the New York Times. Families that spend millions purchasing a larger home don’t have sufficient funds to furnish the extra space and don’t want to pay the higher property taxes or heating and cooling costs. They also don’t want to live lavishly at the expense of the environment.

“The emphasis on how we live is clearly shifting,” Sally Slater, a Prudential Douglas Elliman agent in Bedford, told the Times. Even the homes being built to 6,000 square feet, builders say, would have been 8,000 feet or larger a decade ago.

The National Association of Home Builders has been expecting this trend for some time, predicting that the average size of a new U.S. home would shrink to 2,152 square feet by 2015, 10 percent smaller than 2010’s average. However, Westchester builders note that in the ultra-wealthy towns of Scarsdale, Larchmont and Rye, buyers coming north from Manhattan still prefer the supersize homes. [NYT] — Adam Fusfeld


Related Articles

arrow_forward_ios
One of the two Avalon lots sold to an unnamed businessman (Google Maps)
Two Jersey Shore lots sell for record $21M
Two Jersey Shore lots sell for record $21M
Frank Lloyd Wright and 7,000-square-foot modernist residence in Weston, Massachusetts (Gibson Sotheby's International Realty, Getty)
Mansion inspired by Frank Lloyd Wright lists for $38M
Mansion inspired by Frank Lloyd Wright lists for $38M
MacKenzie Scott and the Beverly Hills home (Getty, Google Maps)
Mansion donated to charity by MacKenzie Scott sells for $37M
Mansion donated to charity by MacKenzie Scott sells for $37M
Homebuilder sentiment declines
Homebuilder sentiment declines for 10th straight month
Homebuilder sentiment declines for 10th straight month
521 Muirfield Loop, Reunion (Compass, iStock)
Orlando-area mansion features Disney, Harry Potter and Star Wars rooms
Orlando-area mansion features Disney, Harry Potter and Star Wars rooms
(iStock)
Homebuilder confidence slides for third straight month
Homebuilder confidence slides for third straight month
Austin, Texas (Credit: iStock)
Austin’s mansion market is booming
Austin’s mansion market is booming
More contracts signed in the city for more expensive homes (iStock)
Manhattan condo signings jump 65% in November, led by priciest homes
Manhattan condo signings jump 65% in November, led by priciest homes
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...