ROCKLAND COUNTY, N.Y. -- Real estate sales finished the year up 13 percent in the Hudson Valley for 2015 according to year-end report from the Hudson Gateway Association of Realtors.
There were 15,324 closings of residential transactions (excluding multi-family units) in Westchester, Putnam, Rockland and Orange Counties in 2015, an increase of 1,769 units. Orange County sales soared 26 percent compared to 2014. Rockland County sales rose 15.6 percent.
“I think it was the mid-range sector that really drove sales for 2015,’’ said Leah Caro, President of Bronxville Real Estate and President of the Hudson Gateway Multiple Listing Service. “The mid-range is what fuels our economy. They are the transitional sellers, moving up and moving down. They’re also painting their house, purchasing lawn mowers and snowblowers and all the other goods and services that go with home ownership.”
"Overall, we’re very happy,'' said Marcene Hedayati, President-elect of HGAR and a Realtor with William Raveis Legends Realty. "It shows a very healthy growth in all of our counties. The median price is flat, which means we have sustainable growth. There is no overexuberance."
After a slow start, real estate activity stayed brisk throughout the final three quarters of 2014. There were 4,313 closings in the fourth quarter in the Hudson Valley, an increase of 16 percent over 2014.
“There was a lot of snow in the first quarter, which pushed the spring market back,’’ Caro said. “The summer was more active and anyone who was shopping for a home in the fall market closed in the fourth quarter.”
Prices, for the most part, stayed relatively stable. The median sale price for a Westchester County single family home fell 1 percent in 2015, to $628,875. Single family home prices fell 2.7 percent for the year in Orange, rose 3.8 percent Rockland and stayed flat in Putnam.
Single family home sales rose 20.9 percent in Rockland County for the year. Sales of 2-4 family homes (11.1 percent) and condominiums (2.3 percent) also rose, while sales of co-ops fell 13.6 percent.
Fourth quarter single family home sales rose 28.0 percent in the fourth quarter in Rockland County, with 531 transactions, more than 29 percent of the total transactions for the year in Rockland. The median sale price also rose 6.6 percent in the fourth quarter compared to the same quarter in 2014.See Attachment
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