Rockland County Real Estate Market Updates

.

.

.

If you’d like a comprehensive look at what’s been happening in our local Rockland County NY Real
Estate Market …. click here to read more:.

.

When will the market turn around?

The truthful answer to that often asked question is that “no one really knows”. What we are hoping to see is a steady DECREASE in inventory and a CONSISTENT INCREASE in sales each quarter. Decreasing inventories indicate that the market is absorbing the present stock of available properties. The average days on the market has gone DOWN from a previous high of 6-9 months to now just over 3 months (see below).

This graph was compiled from Stats below…….

Available Stats from the Greater Hudson Valley MLS

1st Quarter
- Average Days on Market 102 days
- Homes Sold 215
- Homes on the Market – 5,765
- Average Price – $525,600

2nd Quarter
- Average Days on Market 103 days
- Homes sold 281
- Homes on the Market – 6,602
- Average Price – $501,500

3rd Quarter Forecast (latest figures due out late October)
- Average Days on Market UP (as we move into the holidays)
- Homes sold – Down
- Homes on the Market – Level
- Average Price – UP

In the first two months of the 2nd quarter, 1,119 jobs were added to the payrolls of Rockland County. As a result of these new jobs, the average monthly unemployment rate fell from 4.4% during the first quarter to4.3% for April and May. The strong employment climate may help to create demand for home purchases. Favorable mortgage rates should augment this trend.

.

.

Click Here to See Part II for More: Detailed Charts