Home Prices Are on the Upswing in Dutchess and Greene Counties
The local inventory is pricier, but scarcer compared with last year.
Home prices in the Hudson Valley continue to steadily climb, but the number of homes for sale declined in the third quarter compared to last year, according to state data.
The biggest average jump in home prices occurred in Dutchess and Greene counties. The third-quarter median sales price in Greene County this year was $205,000, 15 percent higher than in the third quarter of 2017. Dutchess’ prices also rose, to $292,000 compared with last year’s $265,000. Westchester County’s home prices were the most stable in the third quarter, albeit dipping slightly: $535,000, compared with $537,000 for the same time last year.
The other counties’ median prices for the third quarter this year:
Columbia: $240,500, down 6.6 percent
Orange: $260,000, up 8.4 percent
Putnam: $340,000, up 4.6 percent
Rockland: $430,000, up 3.6 percent
Ulster: $229,900, up 2.2 percent
Data was unavailable for Albany and Rensselaer counties.
The jump in median sales price in Greene County didn’t translate to more homes being listed. In fact, new listings in the third quarter dropped nearly 20 percent compared to third-quarter 2017; there were 423 new home listings, compared with 524 last year. Columbia County’s new home listings slowed as well, with 389 new homes listed for sale compared with 452 in 2017. There were fewer home closings overall in the third quarter throughout the Hudson Valley, as well.
The Hudson Valley’s trends mirror those throughout the state. “Third quarter closed sales dropped 3.9 percent from a year ago to 38,072 units, while median sales prices rose in New York State by 5.8 percent to $275,000,” according to the housing market report released in October by the New York State Association of Realtors.