2016 Year End Housing Sales For Rockland County, NY
Your 2016 Comprehensive Real Estate Market Analysis for Rockland County, NY Home Sales
Just how well did Rockland County, NY home sales do?
2016 is over and the Housing Market Stats are in. A lot of new homeowners are living in Rockland County, NY this year. As the inventory continues to go down and the number of homes sold continues to rise there are less homes to choose from. Proximity to New York City and jobs keeps this part of the Hudson Valley a desirable location. Demand remains strong with buyers hunting for a dream home. More importantly to note is that pricing did inch north a bit. Compared to last year at this time the average sale is 1.7% higher than last year. As inventory is down and demand is up, we see homes disappear off the market a bit quicker.
Rockland County, NY is an expensive place to call home though. Rising interest rates could keep prices rather stable unless demand for homes increases. Buyers that are at the lower end of the market will have more difficulty in finding a home that works because of this. Those homes can see a larger price jump. Even with less buyers, those that do enter the market need a home and have the income to pay. Taxes,and higher interest rates will keep the buyer pool smaller, but it could be a more competitive crowd if inventory keeps disappearing.
- 2047 Sold Single Family Homes in 2016
- Median sale price of these homes were $439,000 which is up 2.3%
- Average sales price was $469,000 up 1.7% spending approximately 64 days on the market.
- The most expensive home sold was at $3,595,000
- The least expensive home sold was $54,900.00
- 152 homes sold between $150,000 to $250,000
- 668 homes sold between $250 and $400,000
- 771 homes sold between $400,000 to $600,000
- 141 homes sold between $700,000 to $1M
- 16 homes sold over $1,000,000
- 82 of the sold homes were in the short-sale status for 2016 that transferred title up 21% from last year
- 128 were bank owned sold homes which is up 73% from last year.
- The absorption rate is now at 5.2 months of inventory
All data is from the Hudson Gateway Association of REALTORS® MLS. Report © 2016 ShowingTime
The information below is for the 4th quarter of single family home sales in Rockland County:
- The 4rd Quarter of 2016 boasts 512 sold single family homes for the County
- The average sale price of a home during the 4th quarter $453,000
- The median sale price in the 4th Q was $425,000 for a single family Putnam County, NY home up 1.2%
- The average days on market was 93days
- The highest price home sold during this time was $1,650,000
- The lowest home sale was $82,500
- Our current inventory of single family homes is a 5.3 month supply.
- The most popular price point of a single home sales happened between $400K to $600K which is above the national norm.
- The lowest price single family home is currently listed at $99,000
- The highest price single family home is currently listed at $6,900,000
- The current inventory is 801 of single family homes
Rockland County, NY has many homes available now. You can search here for all the newest listing available. Search by location, school district, price, number of bedrooms and more. Let’s set up a search and get you started now. You might want to know more about a new construction home. WE have those available too.
Rockland County, NY ~ Year End Housing Market Update 2016
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If you or a family member is looking to sell your home give me a call. Buyers are interested in finding a home right now. Even during winter they do continue to look. Many people can’t put their home purchase on hold during the winter and they are serious buyers. Interest rates are headed up and since prices haven’t been falling, many are watching the inventory closely. As interest rates move up, and taxes never go lower, prices will remain relatively stagnant even though inventory is down. Let’s talk more about what your home is worth in the market today and see if it is the right time for you to sell. Knowledge is power and knowing the current value of your home is a great tool when planning for the future.
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Map of Rockland County, NY
Read more about Rockland County on their Community Page. Find out about the local resources available. Please let me know if you need any additional information on the area and I’ll be glad to help.
You won’t be disappointed.