Limited Supply Fuels Price Growth in the Greater New York City Metropolitan Area

(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.

(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.

(NOTE: Link to ALL regional reports: Market Data (hgar.com) . Scroll down to 2024 Market Stats) White Plains, NY (December 2024) November sales of single-family homes increased in Westchester, Rockland, and the Bronx, with Rockland in the lead at 15.4% over last year at this time. Putnam, Orange, and Sullivan counties all experienced double-digit decreases in sales, with Orange seeing the largest decline at 19.5%. Single-family median sales prices rose in almost all regions, with home prices in Sullivan County soaring by 19.6% to $357,500 – the largest gain in the region. Putnam County’s median prices remained the same as November of 2023 at $530,000 Orange County’s November condo sales experienced the highest gain at 36%, while Putnam condo sales increased by 18.2%, and the Bronx by 15.4%. Median sale prices for condos climbed everywhere but the Bronx, which saw a slight decline at 3%. Rockland County was the winner with a 16.2% hike in condo median prices at $430,000, as compared to last year at $370,000. Rockland’s co-op sales grew by 20%, and the median sales price by 43.9% to $161,200. Co-op sales declined in both Westchester and the Bronx. Inventory for all property types declined in almost all areas, except for Rockland’s condo and co-op markets, the latter with an 84.6% gain. The Bronx led the region for new listings, with a 31.9% increase. Today’s report by the Hudson Gateway Association of Realtors (HGAR) is based on data supplied by OneKey® MLS. “Sales and median prices of single-family homes continue to rise throughout most of our region, and we’ve also seen some substantial gains among other property types as well,” said HGAR CEO Lynda Fernandez. “I think the market indicates that we are poised to see more housing opportunities for more individuals and families in 2025.” Bronx County Closed sales of condos saw the largest increase at 15.4%, followed by single-family homes at 10.5%. November sales of the co-op market declined by 11.3%. Median sales prices rose by 7.2% for single-family homes bringing them up to $664,500 from $620,000 last year. Condos experienced a 3% hike to $325,000, while co-op prices rose 2.3% to a new median of $230,000. The Bronx led the region with the number of new listings for single-family homes, up by 31.9% in November. Both the condo and co-op market listings declined by 25% and 16.7%, respectively. Inventory also declined for all three property types with condos seeing the largest drop at 35%. Inventory of single-family homes decreased by 15.7% and co-ops by 14.9%. Months of supply for all property types were down by 23% to 5.7 months while pending sales were up by 12.4% Westchester County October’s closed sales increased by 2.3% for single-family homes but declined by 15.5% for condos and 22.1% for co-ops. All three property types experienced gains in median sales prices, with condos leading the way at 9.6% to $525,000. Co-op prices moved forward by 8.4% to $227,701 and single-family home prices advanced by 4.7% to $890,000. New listings were down for all three property types, with single-family homes at an 18.6% decline. Condo and co-op listings also decreased by 5.6% and 5.1%, respectively. Inventory decreased by 31.1% for single-family homes, followed by 10.6% for condos and 5% for co-ops. Months of supply for all property types was down 22.2% to 2.1 months, and pending sales were up by 4.2%. Putnam County While small, Putnam County’s co-op market saw an 18.2% increase in sales, from 11 last year to 13 this November. Single-family home sales, meanwhile, dropped by 18.6%. There were no co-op sales reported. Condos also saw a 5% growth in median sales prices to $315,000, while single-family home sales remained flat at $530,000 – the same as last year. New listings for condos jumped by 10% while declining by 23.3% for single-family homes. Inventory for both property types decreased, with single-family homes by 14.5% and condos by 5.3%. Months of supply for all property types declined by 7.1% to 2.6 months. Pending sales dropped by 26.6%. Rockland County Co-op sales saw the highest increase in Rockland County at 20%, followed by single-family homes at 15.4% Only condo sales declined, by 12.8%. The co-op market also experienced the highest median price increase at 43.9% to $161,200 over $112,000 last November. The median price for condos also rose, by 16.2% to $430,000 and single-family homes by 7.3% to $755,000. Both the condo and co-op markets saw an uptick in new listings at 27% and 25%, respectively. New listings for single-family homes fell by 8.3%. The co-op market was the winner again for inventory, soaring by 84.6%, and condos by 16.3% Conversely, the single-family market inventory took a downturn by 25.6%. Months of supply for all property types dropped by 19.4% to 2.5 months, but pending sales rose by 10.3% Orange County In Orange County, sales of condos grew by 36% in November, while single-family home sales declined by 19.5%. The co-op market, while small, did experience a 100% hike in sales from one last year to just two this November. Single-family median sales prices increased by 5.7% to $465,000 and condos by 2.5% to $289,500 Co-op prices decreased by 9.2% to $132,500 from $146,000 last year. New listings declined for both condos and single-family homes at 6.7% and 1.7%, respectively. There was no change in new listings for co-ops. Condos saw a slight uptick in inventory at 1.4%, while single-family home inventory dropped by 10.8%. Co-op inventory remained flat. Months of supply for all property types was down 8.1% to 3.4 months, and pending sales decreased by 5%. Sullivan County While Sullivan County’s November sales fell by 18.3%, the county had the highest increase in median sales prices at 19.6% to $357,000, from just $299,000 last year. There were no condo or co-op sales reported. New listings dipped slightly by 1.4%, but inventory of single-family homes increased by 5.7%. Months of supply advanced by 7.4% to 7.3 months. Pending sales increased by 10%. 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 (December 2024) The Hudson Gateway REALTOR® Foundation, the charitable arm of the Hudson Gateway Association of REALTORS®, recently presented a check for $3,500 to 914 Cares, a non-profit organization serving all of Westchester County. Based in Armonk, 914 Cares is dedicated to helping families in need to reduce financial stress, meet practical needs, and foster respect by providing clothing for infants through adults, diapers and supplies for babies, hygiene products, and children’s books. In May, the nonprofit opened an expansive 12,000-square-foot Armonk warehouse and office space with a loading dock for deliveries, ample storage space, and easy access. This new space has enabled it to increase its output significantly to 125 local organizations that work directly in their communities. 914 Cares donates basic essentials to over 6,000 Westchester families each year. Despite Westchester being known as one of the wealthiest places in the nation, almost 40 percent of babies there are born to families on Medicaid, and 28 percent of children in grades K through 6 receive free and reduced cost lunches. Nearly 3,000 children have experienced homelessness, and 40 percent of Westchester children under age 6 live in families where working parents cannot meet basic needs. “914 Cares is reliant on the support of our compassionate neighbors to continue to meet the need that exists here in Westchester,” said the organization’s CEO and Founder, Jessica Reinmann. “Organizations like HGAR, who put their trust in our mission, are such an integral part of our success.” The 914 Cares Literacy Library also offers books to families and school districts in under-resourced communities. The organization has distributed over 50,000 books each year. Since 2014, the Hudson Gateway Realtor Foundation has donated thousands of dollars to charities and non-profits throughout 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. For more information or to apply for funding from the Hudson Gateway REALTOR® Foundation, please visit www.hgrealtorfoundation.com . For more information about 914 Cares, and how to donate or volunteer, please visit 914cares.org. The Hudson Gateway Association of REALTORS® is a not-for-profit trade association representing over 14,000 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

Goshen, NY (December 2024) The Hudson Gateway REALTOR® Foundation, the charitable arm of the Hudson Gateway Association of REALTORS® (HGAR), recently presented a check for $2,000 to the Town of Wallkill Boys & Girls Club. Based in Circleville, the Club supports some 2,000 school-aged children every year at nine locations throughout northern Orange and Sullivan counties. For the past 31 years, the Club has offered before and after-school programs, summer day camps, and events throughout the year. The programs are designed to provide enriching environments for students outside of school hours, offering activities that promote social-emotional development, academic achievement, and physical wellness. The Club provides care to all children, regardless of financial status. It also offers Club Kids healthy meals and snacks daily at no cost. Each year, the Club serves 11,000 meals and over 30,000 snacks. “Simply put, your generous donation of $2,000 makes it possible for us to do everything that we do for Club Kids: offer programs that boost academic performance, reduce risky behaviors, promote physical and mental health, and provide safe and structured environments for children outside of school hours,” said Sophie Samul, Club Development and Communications Manager. “Thanks to your support, we can dream bigger, achieve more, and impact the lives of countless young people.” Established in 2004 and relaunched in 2013, the HG Realtor Foundation has donated hundreds of thousands of dollars to charities and non-profits throughout the New York metro area and 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. For more information or to apply for funding from the Hudson Gateway REALTOR® Foundation, please visit www.hgrealtorfoundation.com . 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. HGAR maintains its corporate office in White Plains and operates additional offices in Goshen and the Bronx. It is the second largest REALTOR® Association in New York, and one of the largest in the country.