Median sales prices of single-family homes throughout the Bronx and lower Hudson Valley all saw gains, with Sullivan County at an 18.3% hike from last year’s $299,998 to $335,000.
When looking at transaction volumes, closed sales for single-family homes and condominiums were both up compared to last year, while co-op sales saw a decline.
“Home sales are increasing throughout our region as a result of more properties being listed for sale, reflecting the strong demand that currently exists in the Hudson Valley,” said HGAR CEO Lynda Fernandez.
Two market areas that make up the New York metro region—New York-Jersey City-White Plains, NY-NJ (No. 7) and Dutchess County-Putnam County, NY (No. 9)—ranked among the top 10 metro areas for price increases in the second quarter.
Sales were down in all counties in the Hudson Gateway Association of Realtors market area, with Orange County posting the largest decline in single-family home sales at 26.9%.
The Pending Home Sales Index—a forward-looking indicator of home sales based on contract signings—decreased to 70.8 in May. Year-over-year, pending transactions were down 6.6%.
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.
