That fact that both sales and home prices continue to increase is an indication of the high demand and low supply that exists throughout the New York metro area and lower Hudson Valley,” said HGAR CEO Lynda Fernandez.
In October, the regional single-family closed median sale price was $706,000, marking an 8.6% year-over-year increase from $650,000 in October 2023.
The award was cited by the Hudson Valley Chapter of NYSCAR for the agents’ work in facilitating the sale of Eastgate Business Park in Goshen.
Under practice changes that will take effect Aug. 17, real estate professionals will no longer be able to communicate offers of compensation in the MLS.
The New York metro region’s median listing price of $789,000 in May 2024 was 34% higher than in May 2019.
“The impact of escalating interest rates throughout April dampened home buying, even with more inventory in the market,” said Lawrence Yun.
Real estate coach Brian Buffini provided practical advice on how agents can thrive in challenging conditions and use change as a lever for growth, drawing on his extensive experience in training over three million professionals in 37 countries.
With the median sales price for a single-family home in the City of Mount Vernon at $627,550 as of April, a 1.5% transfer tax translates to $9,413.25.
New York City and the Hudson Valley continue to be among the most desirable locations in the nation, so it’s no surprise that inventory is at a premium and home prices are reflecting that.
Boasting a vacancy rate in the low 4% and uninterrupted positive trends in rental rates, fundamentals for Westchester multifamily are strong.
Compared to one year ago, the national median single-family existing-home price climbed 5% to $389,400. In the prior quarter, the year-over-year national median price increased 3.4%.
Located at 632-636 South Broadway, The Parker will feature 160 new units of all affordable housing in an elevator building, with on-site parking. The apartments will be priced for families with incomes at or below 80% of the area median income.
In 2022, the median net worth of homeowners was $396,200, while the median net worth of renters was $10,400.
While attitudes toward housing as a financial investment remained strongly positive, they weakened slightly from the previous year, as 67.1% of all respondents characterized buying property in their zip code as a “very good” or “somewhat good” investment.
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