Spring Market Heats Up Across Hudson Gateway Region as Inventory Remains Tight

The spring housing market is off to a competitive start across the Hudson Gateway region, with limited inventory continuing to shape buyer behavior and push prices upward in many areas.

New data released by the Hudson Gateway Association of REALTORS® shows that while demand remains steady, supply constraints are creating vastly different conditions across counties, requiring both buyers and agents to navigate the market with greater precision.

Westchester and Putnam: Supply Constraints Drive Prices

Westchester County remains one of the most competitive markets in the region. Inventory sits at just 1.8 months, with active listings down more than 21% year over year. This ongoing shortage is fueling price growth, with the median single-family home price rising 7.2% to $922,000.

• Putnam County is experiencing similar conditions, also with 1.8 months of inventory and a sharp 28% decline in active listings. Prices there climbed 10% to $625,000, reflecting strong demand and limited availability.

For REALTORS®, these markets continue to demand strategic pricing, strong listing preparation, and clear buyer guidance in highly competitive environments.

The Bronx: A More Nuanced Market Emerges

The Bronx presents a more varied picture. The single-family market is more balanced, with 4.8 months of inventory, while pricing has adjusted slightly, with median prices down 4.2% to $685,000.

The co-op market, however, tells a different story. With 9.9 months of inventory, it remains firmly a buyer’s market, offering opportunities for those priced out of more competitive segments.

Condos and co-ops are performing differently:

• Condo prices are up 14.1%, with units selling at an average of 101.1% of list price
• Co-op prices remain relatively flat, with units selling at 98.3% of list price 

This level of variation reinforces the importance of understanding submarkets, property types, and pricing dynamics when advising clients.

Rockland and Orange: Signs of Balance

Rockland County is showing early signs of market adjustment. Median home prices declined 6.5% to $750,000, while inventory increased modestly to 2.5 months, suggesting slight easing in competition.

Orange County continues to trend toward a more balanced market, with 3.6 months of inventory and relatively stable pricing. Median home prices increased just 1.7% to $485,000, while active listings remained essentially unchanged.

These conditions may offer more flexibility for buyers, particularly compared to tighter markets like Westchester and Putnam.

What This Means for HGAR Members

For real estate professionals across the region, the key takeaway is clear: this is not a uniform market.

Instead, success depends on:

• Understanding hyper-local trends by county and property type
• Advising buyers on where opportunities may exist, particularly in less competitive segments
• Helping sellers price strategically in a market where conditions can shift quickly 
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As HGAR President Rey Hollingsworth Falu noted, the pace of new listings will play a critical role in determining whether buyers see any relief as the season progresses.

The Bottom Line

The spring market is active, competitive, and highly localized.

While limited inventory continues to define much of the region, pockets of opportunity are emerging. For REALTORS®, the ability to interpret these shifts and guide clients accordingly will be essential in the months ahead.

HGAR will continue to provide timely market insights to help members stay informed and positioned for success throughout the spring season.

NOTE: Link to ALL regional reports:  Market Data | Hudson Gateway Association of REALTORS®