The “Why Global?” session is open to all HGAR members and is designed to demonstrate how the association’s Global Business Council can help Realtors grow their international business.
In January, existing-home sales in the Northeast fell 5.7% from December to an annual rate of 500,000, up 4.2% from January 2024.
Inventory for almost all property types declined in all regions in January, but Rockland County saw a huge co-op inventory gain of 63.6% and 29.9% for condos.
Inventory for almost all property types declined in all regions in January, but Rockland County saw a huge co-op inventory gain of 63.6% and 29.9% for condos.
WHITE PLAINS—All regions of the lower Hudson Valley, with the exception of Putnam County, experienced an increase in single-family home sales in January. Sullivan County garnered the highest percentage with a 59.5% rise in sales from January 2024. Westchester County single-family home sales grew by 21%, and Rockland County by 18%.
Sullivan also took the lead for the largest percentage increase in the median sales price, with a 17.8% uptick to $324,000, over last year’s median of $275,000. Westchester continued to lead with the highest median sales price of $880,000, over $870,000 last year.
In the Bronx, condo sales jumped by 21.4% in January, and the median sales price advanced by 12.8% to $340,000. Rockland County’s co-op market saw the most closed sales, with a 25% increase, and in Orange County, the median sales price of co-ops escalated by 54.8% to $209,000, over just $135,000 last January.
Inventory for almost all property types declined in all regions in January, but Rockland County saw a huge co-op inventory gain of 63.6% and 29.9% for condos. The Bronx held the top spot for new listings in January, with single-family home listings soaring by 81.8% over January 2024. New listings for other property types were mixed across the region.
The report by the Hudson Gateway Association of Realtors is based on data supplied by OneKey MLS.
“This year, we expect to see more balance in the vibrant Hudson Valley and New York City real estate markets, creating more options and affordability for prospective buyers,” said Lynda Fernandez, HGAR Chief Executive Officer. “Our expansive region continues to attract high demand, highlighting our exceptional lifestyle, quality of life, educational institutions, and strong job market. Our region also offers diverse housing types and price points in metropolitan, suburban and rural areas.”
The Bronx condo market took the lead on closed sales in January with a 21.4% gain over last year. Single-family home sales grew by 12.5%, but co-op sales declined by 6.8% over last January. With a 12.8% rise, condos saw the highest percentage of price growth of any property types with the January median of $340.000. Single-family home median prices saw a small uptick at 0.8% to $640,000, but co-op median prices dipped by just one to $245,000.
New listings for single-family skyrocketed by 81.8% over last January—almost doubling the number of homes on the market from 44 last January to 80. Conversely, new listings for condos decreased by 31.3%, but the co-op market new listings grew by 9.3%. Inventory for all three property types declined, with condos seeing the largest drop at 39.8%. Inventory for single-family homes fell 7.3%, and 3.9% for co-ops. Months of supply were down 12.3% to 5.7 months, and pending sales advanced by 19.6%. A balanced market between buyers and sellers usually has between 6.0 and 9.0 months of supply.
Closed sales of Westchester County’s single-family homes increased by 21% in January, followed by condos with a 14.7% gain. Co-op sales fell by just 1.7%. However, the co-op market experienced the largest percentage increase in median sales prices with a 22.9% rise, bringing the January median to $223,750. Single-family home prices rose by 1.1% to $880,000, but condo prices dropped 5.2% to $532,500.
Co-op new listings grew by 15.4%, followed by condos at 13.4% and single-family homes at 9.7%. Inventory for condos grew by 5.9% but declined for both single-family homes at 18.6% and co-ops by 6.3%. Months of supply for all property types dropped 9.5% to 1.9 months. Pending sales were up by 7.5%.
Putnam County’s single-family home sales saw a slight decline of 4.8% in January, but the condo market experienced a 16.7% drop in sales. There were no co-op sales reported last month. The median single-family home sales price rose by 14.5% to $572,500, but the condo median sales price fell by 15.3% to $286,000.
New listings for single-family homes grew by 27.1% but declined by 30% for condos. While a smaller market in Putnam, condo inventory also dropped by 40%, while inventory for single-family homes saw a much smaller decline at 4.6%. Inventory for Putnam’s co-ops, while traditionally a very small market, declined by 66.7%. Months of supply for all property types remained unchanged, with just two months in January. Pending rose decreased by 3.7%.
Rockland’s co-op market saw the highest increase of closed sales for January at 25%, followed by single-family home sales at 18.2% and condos at 15.8%. The condo median sale price received the highest percentage gain over January 2024 at 11.5% to $396,000, and single-family median prices rose by 5.1% to $743,000. Only the co-op median sales price declined at 37.2% to $139,000.
New listings for the condo market rose by 20.8%, and 15.3% for single-family homes. New listings for the co-op market, however, plummeted by 50%. On a positive note, co-op inventory soared by 63.6% in January and 29.9% for condos. Only the single-family home inventory declined by 7.5%. Months of supply for all property types remained flat at 2.3 months, and pending sales decreased by 6.8%.
In Orange County, only sales of single-family homes experienced an increase of just 1.1%. Co-op sales fell by 33.3% and condos by 14.3%. The county’s co-op market, while very small, did end January on a positive note with a 54.8% rise in the median sales price to $209,000. The median price for single-family homes grew 9.2% to $475,000 but dropped by 10.4% for condos to $275,000.
New listings saw a 6.4% rise for single-family homes, but a decline of 25% for co-ops and 22.6% for condos. However, condo inventory experienced a 27.3% gain, but inventory declined for single-family homes by 1.8%. The co-op market inventory remained flat. Months of supply for all property types was up 3.6% to 2.9 months, and pending sales grew by 5.5%.
Sullivan County’s January sales of single-family homes escalated by 59.5%—the highest percentage in the six-county region. There were no condo or co-op sales reported. Sullivan also held the lead for the highest percentage gain in median sales prices at 17.8% to $324,000.
While Sullivan’s condo market remains small, it did experience a 100% gain in new listings, from two in January to just one the previous year. New listings for single-family homes decreased by just 1.4%. Inventory for condos soared by 300%—from four condos on the market in January, as opposed to just one last year. Single-family home inventory rose by 7.5% and the co-op inventory remained flat. Months of supply advanced by 11.5% to 5.8 months. Pending sales declined by 7.3%
(NOTE: The link to ALL regional reports is at: Market Stats (hgar.com). Scroll down to 2025 Market Stats)
The “Why Global?” session is open to all HGAR members and is designed to demonstrate how the association’s Global Business Council can help Realtors grow their international business.
In January, existing-home sales in the Northeast fell 5.7% from December to an annual rate of 500,000, up 4.2% from January 2024.
The foundation’s 2024 events included a series of popular Pub Nights in various locations throughout the Bronx and Hudson Valley, its popular “Dancing with the Foundation” dance competition gala, individual donations, and corporate sponsorships
The predominant risks for DOB’s forecast are policies that may be implemented by the new federal administration, including those related to tariffs and the extension of the expiring provisions of the Tax Cuts and Jobs Act.
Receive original business news about real estate and the REALTORS® who serve the lower Hudson Valley, delivered straight to your inbox. No credit card required.
