All Six Regions of the Lower Hudson Valley Saw Double-Digit Increases in Single-Family Home Sales in December
January 30, 2025
Median Sales Prices Also Grew in All Regions
(NOTE : Link to ALL regional reports: Market Data (hgar.com). Scroll down to 2024 Market Stats)
White Plains, NY
(January 2025) For the first time in several months, December single-family home sales experienced double-digit growth in all areas of the lower Hudson Valley, including the Bronx. Sullivan County reported the highest sales gains at almost 50 percent.
Single-family median sales prices also increased in all regions, with the Bronx leading with a 10.1% uptick, from $631,000 in December 2023 to $695,000 in December 2024. Westchester County still held the lead for the highest median sales price at $911,500 – up 6% from last year at $860,000.
Rockland County saw the highest growth in condo sales by 67.6%, but Orange County’s median condo prices topped the other regions with a 25.5% increase from $255,000 last December to $319,000 in December 2024.
Sales in the co-op market were down in most areas, with the exception of the Bronx, which experienced a 21.9% hike over last year. Median sales prices for co-ops were mixed, but Westchester’s prices grew 13.1% to $225,000 over $199,000 last December.
Single-family home inventory declined in all areas except Sullivan County, which saw a 22.6% growth. Condo inventory soared by 73% in Orange County, and 53.2% in Rockland. Orange and Rockland also dominated the inventory increases in the co-op market, with Rockland leading at a 112.5% growth rate, from 8 to 17 co-ops on the market in December. While there are few co-op sales in Orange, the inventory rose by 40% from 5 to 7 co-ops.
New listings for all property types varied throughout the region in December.
Today’s report by the Hudson Gateway Association of Realtors (HGAR) is based on data supplied by OneKey® MLS. “New York City and the Hudson Valley remain two of the most desired destinations in the world, offering an exciting and culture-rich lifestyle and robust job market. We expect to see a more balanced real estate market in most of our service area in 2025,” said Lynda Fernandez, HGAR CEO. “While extremely low supply coupled with very high demand persists, increased inventory will allow more housing choices for potential homebuyers throughout the Bronx and New York City, and the lower Hudson Valley.”
Bronx County
The Bronx co-op market took the lead on closed sales in December with a 21.9% gain over last year. Single-family home sales were close behind with a 21.2% increase, but condo sales dropped by 40.9% over December 2023. Median sales prices rose by 10.1% for single-family homes to $695,000, and condos by 1.6% to $289.000. Only co-op median prices declined by 10.1% to $240,000 from the December 2023 sales price of $267,000.
New listings for co-ops were up by 20.8% but declined for both condos and single-family homes at 33.3% and 19%, respectively. Inventory also decreased for all three property types, with condos seeing the largest drop at 38.8%, compared to single-family homes at 11.5% and co-ops at 1.6%. Months of supply declined by 11.1% to 5.6 months, and pending sales decreased by just 1.1%.
A balanced market between buyers and sellers usually has between 6.0 and 9.0 months of supply.
Westchester County
Closed sales of Westchester County condos grew by 29.1%, and single-family homes by 12.2% in December. Co-op sales increased by 2.1%. Median sales prices for all three property types rose, with co-ops experiencing the largest growth at 13.1% to $225,000. Single family home prices rose by 6% to $911,500, and condos by 0.9% to $482.500.
New listings for single-family homes grew by 15.2% but decreased for both condos and co-ops by 29.1% and 2.1%, respectively. Only the co-op market saw a slight increase in inventory by 2.5%. Inventory for single-family homes declined by 24.3% and 3.8% for condos. Months of supply for all property types was down 10.1% to 1.7 months, and pending sales were up by 8.6%.
Putnam County
Putnam County’s single-family home sales grew by 15.5% in December, while the condo market saw a decrease in sales by 23.1%. There were no co-op sales reported last month. The median single-family home sales price rose by 9% to $566,900, and condo prices by 14% to $382,000.
New listings for single-family homes jumped by 33.3%, but condo listings declined by 28.6%. Inventory for both property types decreased in December by 13.3% for condos and 6.4% for single-family homes. There were no changes in months of supply for all property types, which stood at 2 months in December. Pending rose sales by 1.7%.
Rockland County
Rockland’s condo sales saw the highest increase at 67.6%, followed by single-family homes sales a 15.1% hike. Co-op sales, however, decreased by12.5%. The condo median sales price had the highest increase at 16.5% to $419,250, while co-op prices rose 6.9% to $140,000. Single-family home prices gained a modest 2.6% to $718,000.
New listings for the condo market soared by 56.5% while dropping 28.3% for single-family homes and 25% for co-ops. The co-op market was the big winner for inventory in December, with a huge increase of 112.5%. However, Rockland’s co-op market remains small, with just 17 properties listed in December 2024, over 8 listed last year. Condo inventory increased by 53.2%, while inventory of single-family homes declined by 20.7%. Months of supply for all property types dropped by 12.5% to 2.1 months, but pending sales rose by 16%
Orange County
In Orange County, sales of single-family homes grew by 19% in December. Condos saw a mild 3.2% uptick in sales, but co-op sales declined by 33.3%. Median sales prices for condos rose by 25.5% to $319,000, and 8.9% for single-family homes to $473,000. The co-op market prices declined by 14.5% to $141,000.
Condos led the way in new listings with a 42.9% rise, while new listings for single-family homes decreased by 7.5%. New co-op listings remained unchanged from last December, with just 2 currently listed on the market. However, inventory for co-ops rose by 40% from 5 to 7 co-ops. Condos saw a huge increase in inventory at 73%, while single-family home inventory modestly declined at just 0.4%. Months of supply for all property types was up 6.0% to 3.1 months, and pending sales grew by 3.9%
Sullivan County
Sullivan County’s December sales of single-family homes increased by 49.1% -- the highest in the six-county region. There were no condo sales reported, and just one co-op sale. While Sullivan’s co-op market is very small, that one sale did represent a huge hike of 188.9% in the median sales price of $130,000, as compared to the December 2023 co-op median sales price of $45,000.
New listings for single-family homes dropped by 18.2% but inventory grew by 22.6%. New listings for both condos and co-ops were flat in December. Months of supply advanced by 20.8% to 6.4 months. Pending sales increased by 8.8%.
The Hudson Gateway Association of REALTORS®
is a not-for-profit trade association consisting of over 13,000 real estate professionals doing business in Manhattan, the Bronx, Westchester, Putnam, Rockland, and Orange counties. It is the second largest REALTOR® Association in New York, and one of the largest in the country.
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(NOTE: Link to ALL regional reports: Market Data | Hudson Gateway Association of REALTORS® Scroll down to 2025 Market Stats) White Plains, NY (April 2025) The Bronx took the lead in closed sales of single-family homes in March, showing a 20.7% increase over 2024’s March sales. Westchester, Orange and Rockland County single-family sales also experienced growth last month. Only Putnam and Sullivan County sales declined. Median sales prices of single-family homes throughout the Bronx and lower Hudson Valley all saw gains, with Sullivan County at an 18.3% hike from last year’s $299,998 to $335,000. Median prices in the Bronx, Rockland and Orange County also experienced double-digit increases over March 2024. Sales of condos in Westchester jumped by almost 20%, and by nearly 18 % in Rockland. Median sales prices for Rockland condos escalated by 27% over last year to a new high of $454,500. Condo prices in the Bronx and Orange Counties rose by over 19%, and just over 15% in Westchester. Bronx co-op sales were the highest in the region, soaring by over 65% from March 2024. Median co-op prices in Rockland grew by almost 32% -- the region’s highest percentage–– to $208,825. Inventory for all property types was mixed across the region, with slight gains and drops. New listings were up in almost all regions for all property types, with the Bronx leading at 48% for single-family homes. Today’s report by the Hudson Gateway Association of Realtors (HGAR) is based on data supplied by OneKey® MLS. “ While the regional housing market remains competitive, with single-family home prices up year-over-year, we’re observing varied trends across different property types and counties,” said Lynda Fernandez, HGAR CEO. “This underscores the importance of localized market expertise and reinforces the value our REALTORS® bring in guiding clients through these dynamic conditions.” Bronx County The Bronx took the top spot for closed sales of both single-family homes and co-ops last month with increases of 20.7% and 65.7%, respectively. Condo sales saw a 6.3% uptick. Median sales prices for all property types increased with co-op prices climbing by 26.8% to $260,000. Single-family home prices jumped by 13.6% to $710,000 and condos by 19.2% to $295,000. New listings for single-family properties rose significantly by 48.4%, followed by condos at 40%. New co-op listings grew slightly by 3.6%. Single-family home inventory increased by 29.6%, but inventory for condos fell by 28.2% and 4.3% for co-ops. Months of supply for all property types increased by 1.5 % to 6.6 months and pending also saw growth by 10.8% Westchester County Closed sales of all property types in Westchester County rose in March, with condos seeing the largest increase at 19.1%. Sales of co-ops grew by 16.5%, and single-family homes by 11.5% over last year. The condo market realized the largest gain in median sales prices at 15.1%, over last year to a new median of $575,000. Single-family home prices increased by 8.9% to $860,000, and co-ops by 7.6% to $220,500. New listings for single-family homes expanded by 15.5%, followed by co-ops at 2.9%. New condo listings fell by just 3.3%. Only the condo market experienced a gain in inventory at 7%. Co-op inventory dropped by 14.9%, and the single-family market by 6.7%. Months of supply for all property types remained flat at 2.3 months, while pending sales saw an upturn of 6.4% Putnam County Putnam County’s sales declined for both single-family homes, by 10.9% and condos, by 50%. However, Putnam’s condo market is small – there were just 4 condos on the market in March as opposed to 8 at this time last year. There were no co-op sales reported in March. Median prices for condos rose by 11.8% to $394,653 and by 3.2% for single-family homes to $565,000. New listings for condos escalated by 77.8%, going from just 9 last March to 16 last month. New listings for single-family homes showed a significant growth of 28.4%. Condo inventory soared by 112.5%, again keeping in mind Putnam’s modest condo market. In March 2024, there were just 8 condos in inventory, as opposed to 17 in March 2025. Single-family home inventory moved ahead by 5.5%. Months of supply for all property types increased by 23.8% to 2.6 months, while pending sales declined by 8.6%. Rockland County Sales of Rockland’s condos continued to outpace other property types with a 17.9% increase over last year. The county’s single-family home sales grew by 9.5% but co-op sales remained flat. Co-ops led the market for median sales price increases at 31.8%, to a new median of $208,825. Condos followed closely with a 27% hike to $454,500, and single-family home median prices grew by 12.7% to $802,500. Rockland’s co-op market also gained the most for new listings at 27.3%, followed by single-family homes at 14.3%. New listings for the condo market declined by just 1.7%. However, inventory for condos climbed by 32.4% and co-ops by 27.8%. Single-family home inventory also advanced by 6.7%. Months of supply for all property types grew by 8% to 2.7 months and pending sales saw a slight increase of 2.2% Orange County In Orange County, co-op sales soared by 50%. However, the county’s modest co-op market saw a gain of just one sale from last year – from 2 in March 2024 to 3 last month. Sales of single-family homes rose by 12.9% but condo sales declined by 3.3%. Condos gained the highest percentage though, for median sales prices with an increase of 19% to $332,500. Co-ops also advanced in median prices by 11.7% to $165,000 and single-family homes by 10.6% to $475,500. New listings for single-family homes advanced by 23.1% but dropped by 25% for condos. New listings for co-ops remained flat. Co-op inventory increased by 20%, but the county’s small co-op market gained just one co-op from last year, from 5 to 6. Single-family home inventory grew by 3.7% while condo inventory declined by 1.7%. Months of supply for all property types were up 11.1% to 3 months, and pending sales gained just 0.4%. Sullivan County Sullivan County’s March sales of single-family homes declined by 13.2%, but median sales prices saw the highest percentage gain in the region at 18.3% to a new high of $355,000. There were no condo or co-op sales reported in March. New listings for single-family homes jumped by 19.1% and inventory saw a slight gain of 0.9%. Months of supply for all property types grew by 3.6% to 5.8 months and pending sales increased by 20.8% The Hudson Gateway Association of REALTORS® is a not-for-profit trade association consisting of over 13,000 real estate professionals doing business in Manhattan, the Bronx, Westchester, Putnam, Rockland, and Orange counties. It is the second largest REALTOR® Association in New York, and one of the largest in the country.
New Rochelle, NY (April 2025) For the third year in a row, the Hudson Gateway REALTOR® Foundation (HGRF) is again adapting the popular TV Show “Dancing with the Stars” to its own version of “Dancing for the Foundation,” on Thursday, May 15 from 6:00 to 10:00 PM at the Glen Island Harbour Club in New Rochelle . This unique and exciting fundraising event supports the HGR Foundation, which benefits charities and non-profits throughout New York City and the Hudson Valley . Proceeds from monies raised through ticket sales, sponsorships, and voting fundraising will be distributed by HGRF to charities and non-profits throughout the Hudson Valley, Bronx, and Manhattan, such as Feeding Westchester, Habitat for Humanity and more. This year’s event will feature seven couples comprised of Hudson Gateway Association of REALTORS® (HGAR) members who will compete for First Place Winner or “People’s Choice Winner.” All dancers will receive up to 10 complimentary dance lessons at the Arthur Murray studio in White Plains or Eastchester, including a professional choreographed routine. The Dancing for the Foundation event highlights the power of REALTORS® coming together to support the communities where they live and work, demonstrating that through unity and generosity, they can make a stronger, more meaningful impact on the lives of those in need. The event is open to both members and non-members, and tickets can be purchased by visiting: Dancing for the Foundation 2025 by Hudson Gateway REALTOR Foundation . The 2025 lineup of dancers includes: Soleil Jackman of Howard Hanna Rand Realty, Central Valley , and Nicholas Clark of Quintessential Mortgage Group, White Plains Emanuele Pepe of The Pepe Law Firm PLLC, Bronx , and Michelle Cruz, also of The Pepe Law Firm PLLC and Today Realty Corp., Bronx Michael Rier of Mid-Hudson Valley Credit Union in Baldwin Place , and Jennifer Madden of Christie’s International Real Estate in White Plains Allen “Ricky” Maddox of Hudson United Insurance, New City , and Rosemarie Anderson of Howard Hanna Rand Realty, Pearl River Joseph Cerbone of the NY Mover, Yonkers ; and Irene Guanill of DeLuca Realty Group – Meet the Sellers Team, Bronx Karol Lynch and Albert “Allie” Abbatiello, both of Quintessential Mortgage Group, White Plains Crystal Hawkins-Syska and Jack Flannery, both of Keller Williams NY Realty, White Plains . “We are thrilled to present this sensational event for the third time,” said Ralph Gabay, HGRF President. “Last year’s event drew record crowds, and we hope to be able to surpass our fundraising goal for this year. Of course, it’s also going to be an exciting, interactive night with audience participation and a great opportunity for networking.” Three judges will determine the winner of the competition, and the audience can also join in the judging to choose the “People’s Choice” winning dance couple. Last year, the event raised almost $42,000 for the Foundation. HGAR Affiliate Members Christian Babcock, of Loan Depot, and Brett Lando, of Gahagan, Lando and Wagner, LLP, both in White Plains, won the competition. Tony Berardi, of Howard Hanna Rand Realty, Brewster/Scarsdale, and Trudi Iglesias, of Howard Hanna Rand Realty, White Plains, received the “People’s Choice Award” and were also named the second-place winners. About HGAR and HGRF Since 2014, the Hudson Gateway Realtor Foundation has donated hundreds of thousands of dollars to charities and non-profits throughout the Hudson Valley. As concerned members of the communities we work in, the Hudson Gateway REALTOR® Foundation participates in qualified community-based charities who serve the housing, hunger, health, happiness, and humane needs of citizens everywhere. The Hudson Gateway Association of REALTORS® is a not-for-profit trade association representing over 13,000 real estate professionals doing business in Westchester, Putnam, Rockland, and Orange counties, as well as the Bronx and Manhattan. It is the second largest REALTOR® Association in New York, and one of the largest in the country.
White Plains, NY (April 2025) A contingent from the Hudson Gateway Association of REALTORS® (HGAR) will travel to Albany on April 29 for the annual Lobby Day, an essential opportunity for REALTORS® to engage directly with New York State lawmakers and advocate for policies that impact real estate professionals, property owners, and renters across the Hudson Valley and beyond. As trusted experts on the front lines of the housing market, HGAR members play a critical role in shaping smart, sustainable policy. This year, they are leading the charge on key legislative priorities, including the First-Time Homebuyer Savings Account Program, which would allow future homeowners to set up tax-deductible savings accounts for the purchase of a home. “Supporters say the initiative would provide much-needed financial relief for first-time buyers struggling to enter an increasingly competitive market,” said Alex Roithmayr, HGAR’s Government Affairs Director. REALTORS® will also be advocating for broader housing solutions such as expanded workforce and affordable housing, zoning reforms, and incentives to accelerate commercial-to-residential conversions, including the legalization of accessory dwelling units (ADUs) and basement apartments. “Lobby Day is not just a day of meetings, it’s a powerful reminder that REALTORS® are a voice for property rights, housing opportunity, and economic growth,” added Roithmayr. “When REALTORS® show up, lawmakers listen.” In addition, HGAR is supporting legislation that would require written buyer representation agreements between brokers and homebuyers. This measure would ensure greater transparency and clarity for consumers by outlining the scope of services provided by their real estate professionals, reinforcing trust and professionalism in the transaction process. On the fair housing front, HGAR members are also advocating for reforms to co-op housing procedures. Specifically, they are pushing for legislation that would require co-op boards to adhere to standardized timelines for reviewing applications and to provide written explanations for any denials, steps designed to reduce discrimination and increase accountability. Recognizing that housing discrimination continues to persist, HGAR is further backing initiatives aimed at combating bias in home appraisals, particularly racial disparities in property valuations. Strengthening oversight and enforcement in this area is essential to achieving equity in homeownership. HGAR has consistently led the state in REALTOR® participation at Lobby Day, reflecting the organization’s deep commitment to advocacy. “With New York’s housing crisis continuing to dominate legislative discussions, HGAR members should be eager to make their voices heard in Albany,” added Roithmayr. “As REALTORS®, we are uniquely positioned to advocate for smart, fair policies that make homeownership more attainable and equitable for all New Yorkers.” The Hudson Gateway Association of REALTORS® is a not-for-profit trade association consisting of over 13,000 real estate professionals doing business in Manhattan, the Bronx, Westchester, Putnam, Rockland, and Orange counties. It is the second largest REALTOR® Association in New York, and one of the largest in the country.
White Plains, NY (April 2025) The Hudson Gateway Association of REALTORS® (HGAR’s) Fair Housing Committee along with Westchester Residential Opportunities (WRO) is kicking off Fair Housing Month with the launch of a two-part series for Fair Housing in Action. The first presentation, “Navigating the Source of Income Discrimination,” features a panel of experts from around New York state who will discuss the essentials of avoiding source of income discrimination and also offer updates on the state of the law. It will be held virtually on Thursday, April 24, from 10:30 AM to noon. Registration is open to HGAR members and non-members by visiting www.hgar.com/events . The panel will also explore recent issues with the interpretation of the law, enforcement highlights and compliance strategies for handling source of income in housing deals. The event is geared toward real estate professionals, landlords and community advocates and will include identifying sources of income discrimination, key legal updates on source of income laws, best practices to avoid discrimination in housing transactions and promotion of equal opportunities for all renters. “This is a great opportunity for not only the Realtor community but potential homeowners, renters, landlords and sellers to get a comprehensive look at this important topic,” said Freddimir Garcia, HGAR DEI Officer. “We have put together an exciting and informative program to set the tone for Fair Housing Month.” Panelists include: Brent Meltzer, Chief of the Housing Protection Office, New York State Attorney General; Zach Zeliff, Chief of Staff, Senator Rachel May; and Carole McCann, Broker/Owner, Hudson Heritage Realty. Andrew Smith, WRO Deputy Executive Director, will be moderating the panel. Smith has been part of WRO’s fair housing department since 2017 and has coordinated both fair lending and fair housing testing programs for WRO. Prior to joining WRO, he was a corporate partner with the law firm Simpson Thacher & Bartlett LLP in New York City, specializing in leveraged buyouts and other mergers and acquisitions. Smith holds a BA from Brown University and a JD from Columbia Law School. The Hudson Gateway Association of REALTORS® is a not-for-profit trade association consisting of over 13,000 real estate professionals doing business in Manhattan, the Bronx, Westchester, Putnam, Rockland, and Orange counties. It is the second largest REALTOR® Association in New York, and one of the largest in the country.
White Plains, NY (March 2024) The Hudson Gateway Association of REALTORS® (HGAR), in collaboration with multiple other U.S. REALTOR® associations from New York to San Fransico, will present the 4th Annual “Choose Your Brew with Ireland” free virtual Global event on Thursday, March 27, from 10 to 11 AM via Zoom . This dynamic trans-Atlantic conversation will celebrate the vibrant real estate partnerships between Ireland and the U.S. HGAR joins the Austin Board of REALTORS® Global Business Alliance, Atlanta REALTORS®, Greater Boston Association of REALTORS®, Mainstreet Organization of REALTORS® (Chicagoland); and the San Francisco Association of REALTORS® in offering this presentation, along with the Institute of Professional Auctioneers & Valuers (IPAV) in Dublin, Ireland. Founded in 1971, IPAV is an association representing over 1,400 members who are licensed auctioneers, property services providers, valuers and estate agents throughout Ireland. The event is open to all REALTOR® Association members across North America and Ireland who are seeking to discover the secrets to international real estate trends, investment opportunities and strengthened global connections. The event will also feature a showcase tour of markets and properties throughout Ireland. To register, please visit www.hgar.com/events . “We are thrilled to be part of this exciting collaboration again this year, and we look forward to insightful guidelines on expanding global real estate business opportunities for our members to Europe and beyond,” said Lynda Fernandez, HGAR CEO. Following a welcome and introduction of panelists, the program will feature a presentation by Pat Davitt, CEO, IPAV. Davitt will address key trends in Ireland’s real estate market as well as insights into economic and demographic factors that shape the industry. A virtual tour of residential properties will follow, focusing on properties in the entry-level, mid-range and luxury divisions. Later, Frank McManus, NAR Global Ambassador to Ireland and the United Kingdom, will moderate a Q & A session for panelists. The Hudson Gateway Association of REALTORS® is a not-for-profit trade association consisting of over 13,000 real estate professionals doing business in Manhattan, the Bronx, Westchester, Putnam, Rockland, and Orange counties. It is the second largest REALTOR® Association in New York, and one of the largest in the country.
(NOTE: Link to ALL regional reports: Market Data | Hudson Gateway Association of REALTORS® Scroll down to 2025 Market Stats) White Plains, NY (March 2025) Median sales prices of single-family homes in the Bronx and the lower Hudson Valley all experienced increases in February, and Putnam County led the way with a 13.4% gain. Putnam’s new median stands at $535,000, as compared to $467,500 in February 2024. Orange County homes presented a close second place, with median prices rising by 12.5% to a new high of $478,500, over $425,000 last year. Sullivan County’s condo median prices, meanwhile, soared by almost 60% to $150,000, over just $95,000 in February 2024. Reviewing February’s closed sales of single-family homes, only Rockland County and The Bronx saw gains of 7.1% and 4.2%, respectively. Sales in all other regions declined, with Sullivan County taking the biggest hit at 31.4%. Rockland County held first place in closed condo sales with a 66.7% increase. In all other regions, condo and co-op sales declined, with The Bronx condo sales plummeting by 47.6 percent. Inventory for almost all property types was mixed across the region. Sullivan County’s single-family home inventory grew by 1.9% and The Bronx, by 1.7%. Sullivan, which rarely offers condos, experienced an inflated 500% growth rate in condo inventory, from just one last year to 6 last month. New listings declined in most regions, with the exception of The Bronx, showing a 20.4% increase for single-family homes and a 7.4% hike for co-ops. Today’s report by the Hudson Gateway Association of Realtors (HGAR) is based on data supplied by OneKey® MLS. “We continue to experience greater demand than supply for housing in the Hudson Valley, a reality that continues to drive increases in home values," said Lynda Fernandez, HGAR CEO. "Higher interest rates and low inventory will continue to impact sales activity and affordability, particularly for first-time and lower-income consumers." Bronx County Sales of single-family homes in the Bronx saw a slight uptick at 4.2%, while sales of condos dropped by 47.6% and co-ops by 4.3%. Still, median sales prices for all property types increased, with co-ops in the lead with a 34.3% jump to $235,000, as opposed to $174,924 last February. Condo prices rose by 3.3% to $281,000 and single-family homes by 2.9% to $620,000. New listings for single-family properties grew by 20.4% and 7.4% for co-ops. New listings for condos were down by 10%. Inventory was mixed with a 1.7% gain for single-family homes and 1.1% for co-ops. Condo inventory, however, fell by 36.2% last month. Months of supply for all property types declined by 3.1% to 6.3 months and pending sales decreased by 11.3%. Westchester County Closed sales of all property types in Westchester County declined in February, with condos seeing the biggest drop at 9.1%. Sales of co-ops dropped by 7.9%, and single-family homes by 6.4%. The condo market saw the largest gain in median sales prices at 37.5% to $565,000, over $411,000 last year. Co-op prices rose by 7.8% to $215,000 and single-family home prices by 3.5% to $860,000. New listings for all property types declined. Single-family home listings fell by 15.4%, followed by a 13.1% dip for co-ops and 6.2% for condos. Only condos saw an increase in inventory by 11.7%. Single-family home inventory dropped by 19.1% and co-ops by 12%. Months of supply for all property types declined by 8.7% to 2.1 months and pending sales decreased by 1.3%. Putnam County Putnam County’s sales declined for both single-family homes, by 8.5% and condos, by 18.2%. Concerning median sales prices, Putnam led the region with a 13.4% increase in prices at $530,000 over $467,500 last year. Condo prices saw an even larger hike by 32.3% to $430,000. There were no co-op sales reported in February. New listings for single-family homes declined by 10.7% and by 80% for condos. Putnam typically offers much fewer condo options than other regions, and that decrease translates to just 3 condos coming onto the market in February, as opposed to 15 last year. Inventory for condos also experienced a significant drop of 57.9%, while single-family home inventory declined by 10.4%. Months of supply for both property types decreased by 9.5% to 1.9 months but pending sales rose by 11.5%. Rockland County Rockland’s condo market sales jumped by 66.7% in February, leading the region for the most closed sales last month. Single-family home sales were up by 7.1%. Co-op sales remained flat. However, the co-op market did see the highest gain for median sales prices with a 21.1% increase to $166,500, over $137,500 last February. Condo prices grew by 6.5% to $410,000 and single-family home prices by 5.4% to $780,000. Rockland’s new listings were a mixed bag with a 2.4% increase for condos, a 44.4% decrease for co-ops and no movement either way for the single-family market. Inventory for both condos and co-ops rebounded at 36.5% and 25%, respectively. However, single-family home inventory declined by 3.5%. Months of supply for all property types grew by 4.3% 2.4 months, and pending sales decreased by 3.8%. Orange County In Orange County, condo sales declined by 32.3% in February, followed by single-family homes at 5%. There were no co-op sales reported last month. Median sales prices for both condos and single-family homes grew, with condos advancing by 19% to $345,000 and single-family homes by 12.6% to $478,000. New listings dropped by 39% for condos and 7.7% for single-family residences. Condo inventory picked up by 7.5%, while inventory for single-family homes declined by 6.5% Surprisingly, new listings for co-ops increased by 33.3% last month. Orange County, like Putnam and Sullivan counties, typically lacks large co-op offerings. The county’s condo inventory saw an uptick of 7.5%, while inventory for single-family homes dropped by 6.5%. Months of supply for all property types remained flat at 2.8 months, and pending sales grew by 3.8% Sullivan County Sullivan County’s February sales of single-family homes declined by 31.4%, while condo sales remained flat. However, median sales prices rose significantly for condos – by 57.9% to $150,000, from just $95,000 last year. Single-family home prices increased by 11.5% to $390,000. There were no co-op sales reported last month. New listings for single-family homes declined by 4.8%, while the condo market remained flat. Inventory for single-family homes grew by 1.9% and condos by an inflated 500%, from 1 last February to 6 last month. Months of supply advanced by 3.8% to 5.5 months. Pending sales rose by 17.6% The Hudson Gateway Association of REALTORS® is a not-for-profit trade association consisting of over 13,000 real estate professionals doing business in Manhattan, the Bronx, Westchester, Putnam, Rockland, and Orange counties. It is the second largest REALTOR® Association in New York, and one of the largest in the country.
