Here's How the Hudson Valley Housing Market Did in Q2
Prices are up, but sales are on a decline.
For the second quarter of 2018, the median sales price of a home in Ulster County was $230,000, a 10.6 percent jump over the sales price at that time last year. Most of the other counties around the Hudson Valley showed an uptick in price, ranging from 4.9 percent to 9.8 percent higher. Conversely, Columbia County saw median prices fall by just under one percent, and Greene County’s median price fell by just 3.2 percent, from $180,750 to $175,000.
Greene County, however, barreled to the top of the sales list: there were 192 home closings in the second quarter of 2018, a whopping 22.3 percent hike over the 157 homes that closed the same time last year. The total number of Rockland County home closings fell more than 10 percent compared to last year; the rest of the Hudson Valley was a mixed bag, with flat sales numbers in Columbia and slight declines in Dutchess, Putnam, Ulster, and Westchester (data was unavailable for Rensselaer and Albany counties).
The NYS Association of Realtors credits buyer competition for the trend in quick sales above asking price. “The housing supply outlook in several markets is beginning to show an increase in new construction,” the association said in a statement, “and a move by builders away from overstocked rental units to new developments for sale. These are encouraging signs in an already healthy marketplace.”
Data provided by NYS Association of Realtors, Inc.