Seven reasons why I think your home may have doubled in value, and why demand shows no signs of cooling
It sounds dramatic, but in Larchmont, it’s not fiction. Over the past decade, I’ve watched modest homes transform into multi-million-dollar sales. I’ve seen buyers who once hesitated to put in an offer for $950,000 now competing for homes north of $1.8 million. I’ve fielded calls from long-time homeowners stunned by what their property is suddenly worth.
So, what happened? Why is the Larchmont market still on fire?
For starters, here are the facts:
If we look at the numbers, much of the dramatic price increase has happened over the last handful of years.
- Since 2019, home values have increased 52% (and an impressive 72% since 2014).
- The median sale price in 2019 was $1,240,000, but by 2025, the median sale price was approaching $2 million at $1,890,000.
- The number of homes sold for $2 million or more jumped from 27 in 2019 to 66 in 2025, a 144% increase.
- Homes under $1 million have nearly vanished, dropping from 63 sales in 2019 to just 12 this past year.
Here’s why.
1. The Walkability Premium
Larchmont’s walkability score of 92/100 (ranked #2 in Westchester) isn’t just a bragging right; it directly influences value. This year, 87% of homes sold were within one mile of the train station, and properties within a half mile sold for nearly $25 more per square foot than those farther away. Buyers pay for convenience and lifestyle, and here in Larchmont, they can walk to everything.
2. The Commuter Sweet Spot
A 35-minute express ride to Grand Central remains one of Larchmont’s greatest assets. Post-pandemic flexibility has only amplified that appeal. Professionals want more space, but they still need access to NYC. Larchmont delivers both.
3. Inventory Is Tight
Inventory in Larchmont is down roughly 24% over the past five years. When supply shrinks, and demand remains steady, prices rise. It’s basic economics playing out at the neighborhood level.
4. Shifting City Dynamics Are Driving Suburban Demand
Over the past few years, we’ve seen a noticeable shift in buyer psychology. Many families who once imagined staying in New York City long-term are reconsidering what daily life looks like. Some are seeking more space; others want quieter streets or simply seek a greater sense of predictability in their surroundings. When city life feels more intense, whether due to density, cost, lifestyle pace, or evolving policies, towns like Larchmont become incredibly attractive alternatives.
5. Millennials In Their Prime
Millennials, now the largest generation of homebuyers, are entering peak earning years. Nationally, nearly 90% say walkability matters, and most are willing to pay more for it. They want downtown energy, train access, and community life. Larchmont checks every box.
6. Lifestyle Sells
Manor Park sunsets. Summer concerts. Farmers markets. Sidewalk sales. Ragamuffin parades. Buyers aren’t just purchasing square footage; they’re investing in a way of life.
7. Smart Renovations + Strategic Marketing
Over the past decade, homeowners have invested in kitchens, primary suites, work-from-home offices, landscaping, and curb appeal. When thoughtful upgrades meet strong demand and smart pricing, bidding wars follow.
The Bottom Line
Price growth like this doesn’t happen in a vacuum. It reflects strong fundamentals: location, walkability, schools, limited supply, and sustained demand.
Larchmont’s market strength isn’t a fluke; it’s the result of qualities that continue to attract buyers year after year.
So, if you’ve owned your home for a while, it may be worth taking a fresh look at what it represents in today’s market and contacting your friendly neighborhood Realtor.
