Rockland County, New York | Real Estate Market Trends

The median sales price for a condominium in Rockland County, New York, increased 13.5% in the third quarter of 2018. This marked increase from the previous quarter’s $325,000 median sale price. Single-family sales in Rockland County are also rising, with 5.6% more units sold than last month. As the number of homes for sale in Rockland County increases, it is essential to know what to expect.

Three & Four-Bedroom Properties

The number of Sell homes in Rockland County, NY, decreased by 7.8% between October 2021 and November 2021, while the number of three- and four-bedroom properties for sale remained flat. In November 2021, over 137 listings were sold for more than the listed price, while 114 were sold for less. The median list price for four- and five-bedroom properties rose by 12.7% and 15.9%.

Hudson Gateway Association of Realtors

The first quarter of 2020 sales report from the Hudson Gateway Association of Realtors shows that sales volume rose 15.2% in Rockland County, NY. The median sales price increased 3.1%. In addition, multi-unit sales rose. Those who purchased homes in the first quarter of 2020 were confident that they could find a suitable property upstate. The search for a new home began in August, but Patricia and her husband did not finish it until they had sold their old farmhouse in the fall.

Range of Prices

In November 2021, the number of available homes in Rockland County, NY, was 1,563. The number of 2 bedroom homes sold decreased by 7.8%, while three and four-bedroom listings dropped by 14.7% and 5.6%, respectively. Among the four- and five-bedroom units, 87 were sold for more than the listed price. These results are compared to the past five years and reveal a wide range of prices.

In the first quarter of 2020, the Hudson Gateway Association of Realtors reported that the median home value in Rockland County, NY was $443,400, with a median rent of $1,504 in November. However, the median list price for a multi-bedroom property decreased by 13.7%, while three-bedroom homes were down by 7.7%. In November, the listings sold for more than the listed price.

Orange County

According to a recent report by the Hudson Gateway Association of Realtors, the median home price in Rockland County, NY, increased by 15% over the first quarter of 2019. In the same period, the median home price of a four-bedroom property in Rockland County was down to $630,000 in 2020. In contrast, the number of co-ops in Orange County, NY, was just four times that.

Median Home Price

As housing inventory increases, the median cost of housing in Rockland County has increased by almost 15% in the first quarter of 2020. While the median home price is higher than in other counties in the region, the total cost of ownership is lower. As a result, the price of a home in Rockland County is also more affordable than the median housing price in the area. The prices of condos, townhouses, and single-family homes in the area have decreased by nearly 10%.

Single-Family Households

The housing inventory in Rockland County is growing at an impressive rate. While the housing stock in Orange County has doubled, the housing supply in Rockland County has increased by nearly a third. As a result, there is a housing shortage in the region. In addition, the average cost of an apartment in New York City is more expensive than an apartment. A single-family home in Rockland County, NY, is a much larger area and offers more space for families and single-family households.

Conclusion:

Despite the high prices in Rockland County, the inventory of homes for sale has decreased by 7.8% since October 2021. As of November 2021, the median listing price for a single-family home in Rockland County, NY, increased by 13.7%. Similarly, the prices of four- and five-bedroom houses in Rockland, NY, have dropped by 14.8%. In Rockland County, New York, the housing inventory is growing.