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    January 2021: Hudson Valley’s Real Estate Market

    We’re just one month into the new year and Hudson Valley’s Real Estate Market shows no signs of slowing down. This past January, home buyers and sellers continued to see the housing frenzy the area has been experiencing since last Spring. Low inventory paired with low interest rates and an incredibly high demand for the Hudson Valley has fueled bidding wars amongst buyers, ultimately raising the median sale price for homes and properties simply flying off the market. Here’s a closer look at how the Rockland, Orange, and Bergen counties faired in the first month of the new year.

     

    Rockland County Real Estate Market

    ROCKLAND COUNTY

    Properties Sold: 212 

    Median List Price: $499,000

    Median Sale Price: $500,000

    Median Days on Market: 31 days

    Sales Range: $99,000 to $1,530,000

    Total Sales Volume: $117,055,865

    Median $/Square-Foot: $245.14

    Rockland County saw a jump of 14.9% in its median sale price compared to January of last year, and the time it took to sell a property was more than cut in half from 69 days in January 2020 to just 31 days in January 2021. Looking at the past six-months, Rockland saw its lowest median sales price since August (which also came out to be $500,000), but remains fairly steady ranging from $500,000 to $532,000.

    As of February 2nd, there are currently 400 single-family properties listed for sale in Rockland County ranging from $169,900 to $5,700,000 at a median list price of $697,000. An additional 550 single-family properties are currently pending. To search homes for sale in Rockland County, click here.

    Data courtesy of OneKey MLS

    Orange County Real EstateORANGE COUNTY

    Properties Sold: 391 

    Median List Price: $349,900

    Median Sale Price: $355,000

    Median Days on Market: 40 days

    Sales Range: $33,700 to $1,750,000

    Total Sales Volume: $144,168,803

    Median $/Square-Foot: $170.95

    Once considered just out of commuting range for most buyers that worked in Manhattan, Orange County has seen an influx of prospective homebuyers since the work-from-home lifestyle gained traction in March, as has most of the Hudson Valley region. Generally lower taxes than its neighboring county of Rockland and with a more urban feel, Orange is another county in Hudson Valley that saw a substantial increase in home sales and prices, the median sale price for a single-family home jumping a staggering 27% to $355,000 in January 2021 compared to last January.

    As of February 2nd, there are 719 single-family properties for sale in Orange County ranging from $41,500 to $10,900,000 with a median list price of $389,450. There are over 1,000 single-family properties with pending sales. To search homes for sale in Orange County, click here.

    Data courtesy of OneKey MLS

    Bergen County Real Estate

    BERGEN COUNTY

    Properties Sold: 623 

    Median Sale Price: $565,000

    Average Days on Market: 50 days

    Sales Range: $52,500 to $4,600,000

    Total Sales Volume: $446,236,935

    Just over the state border, Bergen County in New Jersey has seen similar upward trends in its real estate market compared to its New York counterparts. With the highest median sale price of the three counties and a larger luxury market, Bergen County’s median sale price jumped 14% to $565,000 compared to $495,000 in January of last year.

    As of February 2nd, there are 1,105 single-family properties for sale in Bergen County ranging from $39,995 to (a staggering) $32,900,000 with an average list price of $1,429,824. There are over 1,200 single-family properties with pending sales. To search homes for sale in Bergen County, click here.

    Data courtesy of NJMLS

    Have you been thinking about Buying or Selling?

    As a local, trusted realtor in the Hudson Valley and a resident for over 25 years, there is nothing I enjoy more than helping people with their real estate needs in our incredible area. Whether you’re a first-time homebuyer or selling your long-time home, it is my goal to make sure buyers and sellers that work with me experience the smoothest transaction possible.

    Micaela Stanaland

    c: (845) 596-9414

    micaela.stanaland@randrealty.com

    www.micaelastanaland.com

     

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