Rockland County Rivertowns Market Update - February 2013

I am constantly evaluating how buyers actually find the home they ultimately buy. The National Association of Realtors® released its 2012 Profile of Home Buyers and Sellers – a comprehensive survey evaluating demographics, preferences and experiences of recent home buyers and sellers. Where do buyers start their search? An overwhelming majority of buyers (90%) start by searching online. Local multiple listing service websites were the most popular Internet resource (54%), followed by Realtor.com (51%), real estate agent websites (47%), real estate company sites (39%), other websites with real estate listings (27%), for-sale-by-owner sites (13%) and local newspaper sites (9%). More than 91% of the buyers who start their search online contact a Realtor to assist them. How did buyers find the home they ultimately purchased? When asked where they first learned about the home they purchased, 34% of buyers said a real estate agent, 42% the Internet, 10% from yard signs, 6% from a friend, neighbor or relative, 5% from builders and 2% directly from the seller. Interestingly, only 1% of all buyers found their home through a print or newspaper ad and less than 1% found the home they purchased in a home book or at an open house. With that, here are the homes that sold during January.

January 2013 Sales in the Rockland County Rivertowns

Here's how we started out the year in the Rivertowns -

January 2013 vs. January 2012 - Single Family Homes
New inventory (the number of homes going on the market) was unchanged (14 YTD 2013 vs. 14 YTD 2012). There was a 66.7% increase in the number of sales (10 YTD 2013 vs. 6 YTD 2012). The average sales price of homes that have sold decreased 29.2% to $441,310. Overall, the average sales price for single family homes that have sold in Rockland County (inclusive of the river villages) was $393,206, down 7.5% over the same period last year.

January 2013 vs. January 2012 - Condos
New inventory (the number of condos going on the market) increased 18.2% (13 YTD 2013 vs. 11 YTD 2012). There was an 80% decrease in the number of sales (1 YTD 2013 vs. 5 YTD 2012). The average sales price of condos that have sold increased 87.5% to $750,000. Overall, the average sales price for condos that have sold in Rockland County (inclusive of the river villages) was $219,587, down 9.3% over the same period last year.

For more information on what’s happening in the Rivertowns and the Rockland County Real Estate market, give me a call on 845-641-8613 or visit my website www.DonnaCox.com and click "Contact Me." I’d be delighted to speak with you.

What are the Hudson Valley Rivertowns? The rivertowns are a collection of small towns and villages situated on the western banks of the Hudson River. The rivertowns are among the most special and sought after locations in the lower Hudson Valley and include Palisades, Sneden’s Landing, Piermont, Upper Grandview, Grand View, South Nyack, Nyack, Central Nyack and Upper Nyack. Located about 15 minutes north of Manhattan, the rivertowns are perfect for those looking to live in a beautiful, diverse and convenient location with easy access to Manhattan, Connecticut and Westchester.