November Single-Family Home Sales Increase In Half of the Lower Hudson Valley Region

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.

Mural Funded Through Grant from Hudson Gateway Association of REALTORS® and Dutchess County Association of REALTORS® Wayfinding Map Showcases Existing and Proposed Pedestrian and Bicycling Links

The Bronx Sees the Biggest Increase in Median Sales Prices for Single-Family Homes, and Westchester, for Condos

WHITE PLAINS —Median sales prices for single-family homes rose in the Bronx and all five lower Hudson Valley regions with Westchester County again setting a new record-high at $1.118 million. The last record high recorded for median sales in Westchester was in June at $1.03 million. Putnam County saw the highest gain at 26.3% to a new median high of $625,000, according to a report released today (Sept. 19) by the Hudson Gateway Association of Realtors, Inc. However, sales of single-family homes declined in all six areas, with the Bronx experiencing the largest decline at 18.5%, followed by Rockland County with a 10.6% drop. Inventory of single-family homes saw double digit declines in almost all regions with the exception of Sullivan County with a 14.6% increase of homes on the market. Sales of Bronx condos fared much better, with a 16.7% increase, followed by Westchester, with a 14.7% hike. While Putnam’s condo market is small, the county did experience a 44% increase in closed sales, reporting 13 condos sold last month compared with just nine in August of 2023. Sullivan County reported the highest surge in condo median sales prices by 65.9% to a new high of $224,000. Sales of co-ops in Rockland jumped 12.5%, while the Bronx saw a slight uptick of 3.9% in sales. Westchester’s co-op sales declined by 26.4% in August. Rockland also experienced the largest increase in co-op median sales prices by 63.9% to $191,000. Today’s report by the Hudson Gateway Association of Realtors (HGAR), based on data supplied by OneKey MLS, shows a steady increase in median sales prices across all housing types. “Lower inventory and strong demand continue to fuel home prices throughout the New York metro area and lower Hudson Valley,” “said HGAR Chief Executive Officer Lynda Fernandez. “Declining interest rates should result in more properties coming onto the market this fall, creating a more balanced market.” Bronx County Single-family home sales decreased by 18.5% in August and the median sales price rose slightly by 3.6 % to $650,000 from August 2023. Condo sales jumped by 16.7%, but the median price declined by 13.5% to $265.000, down from $306,250 last year. Sales in the co-op market saw a 3.9% increase, but a 10.6% decline in the median sales price to $257,000. The median co-op sales price in August 2023 was $287,500. New listings for all three property types declined, with the co-op market decreasing the most at 9.1%. Overall inventory fell by over 30% for both single-family homes and condos, but just 4.9% for co-ops. As of August, there were 6.4 months of supply, down by 11.1% from last month. Overall pending sales for all property types were up by 8.4% Westchester County Once again, Westchester set a new record for the highest single-family median sales price at $1.118 million, topping June’s record high price of $1.031 million. Both the condo and co-op markets experienced growth in median sales prices of 10.3% and 12.6%, respectively. August’s median price for condos was $517,700, and $227,500 for co-ops. However, co-op sales were down by 26.4% in August and single-family homes by 9.9%. Only the condo market saw an increase in sales, at 14.7%. New listings declined for single-family homes and condos at 7.6% and 4.1%, respectively, but increased slightly for co-ops at 2.7%. Overall inventory for all property types declined, with co-ops seeing the largest decrease at 19.3%, followed by single-family homes at 16.7% and condos but 6.3%. Months of supply was down 11.2% to just 2.4 months, and pending sales for all property types increased by 2.4%. Putnam County While single-family home sales in Putnam County declined by 5.7% in August, condo sales escalated by 44.4%. A small condo market, Putnam offered 13 condos for sale last month, from just nine last year at this time. The median sales price of single-family homes rose significantly—by 26.3% to $625,000, over just $495,000 in August of 2023. Median prices for condos edged slightly forward by 2.6% $395,000. New listings for condos increased by 14.3% but dropped by 11.3% for single-family homes. Months of supply for all property types decreased by 9.4% to 2.9 months but pending sales rose by 4.6%. There were no co-op sales reported in August. Rockland County Rockland’s co-op market, albeit a small segment, saw a 12.5% rise in sales last month and a 63.9% surge in the median sales price of $191,000, from just $116,500 in August of 2023. Sales of condos and single-family homes decreased by 22.2% and 10.6%, respectively. The condo market saw an 18.6% increase in the median sales price to $421,000, while the median price of single-family homes grew by 7.8% to $748,750. New listings for co-ops shot up 57.1% over last year, followed by an 11.7% increase for single-family homes and a 10.7% hike for condos. Inventory remained flat for condos but decreased 8.7% for single-family homes and 4.5% for co-ops. Months of supply dropped 3.4% to 2.8 months but pending sales for all property types grew by 22.7% Orange County In Orange County, sales of single-family homes decreased by 4.2%, while condo closings fell by 29.8%. Co-op sales increased by 50%, but with the county’s co-op market so sparse, the increment moved from just two co-ops last August to three in 2024. However, co-op median sales prices saw a 25% hike to $159,900. Condos experienced a median sales increase of 8.8% to $310,000 and single-family homes, a 1.1% uptick to $465,000. New listings for single-family homes rose by 3.3% and condo listings by 2.4%. Co-op listings declined by 50% from four in August of 2023 to just two last month. Inventory for all three property types declined with co-ops seeing the highest decrease at 14.3%, followed by single-family homes at 11.8% and condos at 5.5%. Months of supply for all properties were down 5.4% to 3.5 months, but pending sales were up by 18.7% Sullivan County Sullivan County’s single-family home sales declined 4.2% in August, but the median sales price moved forward by 2.1% to $362,500. Condo sales were down by 50% from last year, but the median sales price surged by 65.9% to $224,00 from just $135,000 last year. However, due to the county’s minimal number of available condos, this percentage translates to just one condo sale, as opposed to two in August of 2023. There were no co-op sales reported. New listings for single-family homes grew by 20.8% but there were no new listings reported for condos. Inventory of single-family homes advanced by 14.6% and declined 50% for condos with two on the market as opposed to four last August. Sullivan continued to offer the largest months of supply at 7.9 months, an increase of 19.7% over last month. Pending sales also increased by 23%. (NOTE: Link to ALL regional reports: Market Data (hgar.com) . Scroll down to 2024 Market Stats)