Double-Digit Increases in Single-Family Home Sales Continued Throughout Most of the Hudson Valley in January

February 20, 2025

Sullivan County Led the Region with Almost 60% Hike in Closed Sales and Nearly 18% Rise in Median Sales Price

Bronx New Listings for Single-Family Homes Soared by Over 81%

(NOTE: Link to ALL regional reports: Market Stats (hgar.com). Scroll down to 2025 Market Stats)

 

White Plains, NY (February 2025) All regions of the lower Hudson Valley, with the exception of Putnam County, experienced an increase in single-family home sales in January. Sullivan County garnered the highest percentage with a 59.5% rise in sales from January 2024. Westchester County single-family home sales grew by 21%, and Rockland by 18%.

 

Sullivan also took the lead for the largest percentage increase in the median sales price, with a 17.8% uptick to $324,000, over last year’s median of $275,000. Westchester continues to lead with the highest median sales price of $880,000, over $870,000 last year.

 

In the Bronx, condo sales jumped by 21.4% in January, and the median sales price advanced by 12.8% to $340,000. Rockland County’s co-op market saw the most closed sales, with a 25% increase, and in Orange County, the median sales price of co-ops escalated by 54.8% to $209,000, over just $135,000 last January.

 

Inventory for almost all property types declined in all regions in January, but Rockland County saw a huge co-op inventory gain of 63.6% and 29.9% for condos. The Bronx held the top spot for new listings in January, with single-family home listings soaring by 81.8% over January 2024.  New listings for other property types were mixed across the region.

 

Today’s report by the Hudson Gateway Association of Realtors (HGAR) is based on data supplied by OneKey® MLS. “This year, we expect to see more balance in the vibrant Hudson Valley and New York City real estate markets, creating more options and affordability for prospective buyers,” said Lynda Fernandez, HGAR CEO. “Our expansive region continues to attract high demand, highlighting our exceptional lifestyle, quality of life, educational institutions, and strong job market. Our region also offers diverse housing types and price points in metropolitan, suburban, and rural areas.”


Bronx County

The Bronx condo market took the lead on closed sales in January with a 21.4% gain over last year. Single-family home sales grew by 12.5%, but co-op sales declined by 6.8% over last January. With a 12.8% rise, condos saw the highest percentage of price growth of any property type, with the January median of $340.000. Single-family home median prices saw a small uptick at 0.8% to $640,000, but co-op median prices dipped by just one percent to $245,000.


New listings for single-family skyrocketed by 81.8 percent over last January – almost doubling the number of homes on the market from 44 last January to 80. Conversely, new listings for condos decreased by 31.3%, but the co-op market new listings grew by 9.3%. Inventory for all three property types declined, with condos seeing the largest drop at 39.8%. Inventory for single-family homes fell 7.3%, and 3.9% for co-ops. Months of supply were down 12.3% to 5.7 months, and pending sales advanced by 19.6%.


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’s single-family homes increased by 21% in January, followed by condos with a 14.7% gain. Co-op sales fell by just 1.7%. However, the co-op market experienced the largest percentage increase in median sales prices with a 22.9% rise, bringing the January median to $223,750. Single-family home prices rose by 1.1% to $880,000, but condo prices dropped 5.2% to $532,500.


Co-op new listings grew by 15.4%, followed by condos at 13.4% and single-family homes at 9.7%. Inventory for condos grew by 5.9% but declined for both single-family homes at 18.6% and co-ops by 6.3%. Months of supply for all property types dropped 9.5% to 1.9 months. Pending sales were up by 7.5%


Putnam County

Putnam County’s single-family home sales saw a slight decline of 4.8% in January, but the condo market experienced a 16.7% drop in sales. There were no co-op sales reported last month. The median single-family home sales price rose by 14.5% to $572,500, but the condo median sales price fell by 15.3% to $286,000.


New listings for single-family homes grew by 27.1% but declined by 30% for condos. While a smaller market in Putnam, condo inventory also dropped by 40%, while inventory for single-family homes saw a smaller decline at 4.6%. Inventory for Putnam’s co-ops, while traditionally a very small market, declined by 66.7%. Months of supply for all property types remained unchanged, with just two months in January. Pending rose decreased by 3.7%


Rockland County

Rockland’s co-op market saw the highest increase of closed sales for January at 25%, followed by single-family home sales at 18.2% and condos at 15.8%. The condo median sale price received the highest percentage gain over January 2024 at 11.5% to $396,000, and single-family median prices rose by 5.1% to $743,000. Only the co-op median sales price declined by 37.2% to $139,000.


New listings for the condo market rose by 20.8%, and 15.3% for single-family homes. New listings for the co-op market, however, plummeted by 50 percent. On a positive note, co-op inventory soared by 63.6% in January and 29.9% for condos. Only the single-family home inventory declined by 7.5%. Months of supply for all property types remained flat at 2.3 months, and pending sales decreased by 6.8%.


Orange County

In Orange County, only sales of single-family homes experienced an increase of just 1.1%. Co-op sales fell by 33.3% and condos by 14.3%. The county’s co-op market, while very small, did end January on a positive note with a 54.8% rise in the median sales price to $209,000. The median price for single-family homes grew 9.2% to $475,000 but dropped by 10.4% for condos to $275,000.


New listings saw a 6.4% rise for single-family homes, but a decline of 25% for co-ops and 22.6% for condos. However, condo inventory experienced a 27.3% gain, but inventory declined for single-family homes by 1.8%. The co-op market inventory remained flat. Months of supply for all property types was up 3.6% to 2.9 months, and pending sales grew by 5.5%


Sullivan County

Sullivan County’s January sales of single-family homes escalated by 59.5% -- the highest percentage in the six-county region. There were no condo or co-op sales reported. Sullivan also held the lead for the highest percentage gain in median sales prices at 17.8% to $324,000.

While Sullivan’s condo market remains small, it did experience a 100% gain in new listings, from two in January to just one the previous year. 


New listings for single-family homes decreased by just 1.4%. Inventory for condos soared by 300% -- from four condos on the market in January, as opposed to just one last year. Single-family home inventory rose by 7.5% and the co-op inventory remained flat. Months of supply advanced by 11.5% to 5.8 months. Pending sales declined by 7.3%


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. 

More Press Releases

March 21, 2025
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.
March 20, 2025
(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.
March 7, 2025
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February 26, 2025
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February 24, 2025
White Plains, NY (February 2024) The Hudson Gateway Association of REALTORS® (HGAR) is partnering with the Building & Realty Institute of Westchester & the Mid-Hudson Region (BRI) to present a crucial informational session on Good Cause Eviction, exploring its potential impact on the real estate industry at its White Plains headquarters on Friday, February 28 from 10:30 am to 11:30 am . Tim Foley, CEO of the BRI, will clarify how municipalities can modify the bill, and explain any unintended consequences as well as advocacy efforts regarding Good Cause Eviction. The Good Cause Eviction Law generally prohibits landlords from evicting residential tenants or refusing to renew residential leases without a court order and a valid legal justification, unless an exemption applies. Ann Heaney-Korchak, Board President of the Small Property Owners of New York (SPONY) , will also participate in the session, providing valuable insights and firsthand experiences from NYC property owners who have already navigated the implementation of Good Cause Eviction laws. She will offer guidance to HGAR Realtors on how to effectively advocate on this issue and navigate the practical implications should the law be enacted. While the law aims to provide greater security and fairness to tenants by preventing evictions without good cause, some landlords argue that it imposes excessive restrictions. HGAR believes that the law could have significant consequences for both landlords and tenants, potentially making it more challenging for renters to secure quality, affordable housing while also impacting property owners' rights. “In addition, the law could discourage property owners from investing in essential upgrades, and could eliminate ‘mom and pop’ landlords,” said Alex Roithmayr, HGAR Government Affairs Director. “As a result, this could create an opening for larger corporate landlords to take over the market.” HGAR also argues that the law could restrict property rights, potentially reducing the availability of affordable rental housing if property owners choose to sell rather than navigate the new regulations. Additionally, it may lead to de facto perpetual residential leases, limiting a property owner’s ability to decide whether to renew a lease upon expiration. Ultimately, these decisions could be left to the courts to determine, resulting in costly and time-consuming legal proceedings for both tenants and landlords. This session is open for members and non-members and will offer valuable insights from property managers and owners in NYC who are already dealing with the effects of Good Cause Eviction laws that have been passed. “This is a critical opportunity for HGAR members to unite and advocate against the proposed bill before the upcoming City of Middletown public hearing on this issue on March 4,” added Roithmayr. 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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