Special offer

They Got What? Rockland County Rivertowns Market Update - May 2013

By
Real Estate Agent with Better Homes and Gardens Real Estate - Rand Realty

There has been a lot of attention lately given to websites offering online home valuations. Simply enter an address and voila the program will assign a value to a particular property. It isn’t that these sites lack value or utility. They often offer information on a home’s marketing history, when the property last sold, the sales price and other insightful data. However, when it comes to determining price, there are so many variables that even the most sophisticated software can’t come close to determining a home’s value. We know that all homes with four bedrooms and 2.5 baths are not created equal – even those within a few blocks of each other. A computer program can’t begin to capture the magic of a magnificent view or the “wow factor” of a unique home with stunning architectural details, both of which have a significant impact on the value of a home. Interestingly, one site encourages users to go to sellers with their computerized printout as proof of what the value of the home is. As a seller would you accept less just because a computer says you should? As a buyer, whose determination of value is more important – yours or a software program’s? Technology is great, but when it comes to valuing real estate I still remain pro-human. With that, here are the homes that sold in March.

March 2013 Sales in the Rockland County Rivertowns

March 2013 Sales in the Rockland County Rivertowns

Here’s an overview of the Rockland County Rivertown real estate market for the first quarter of this year.

1Q YTD 2013 vs. 1Q YTD 2012 – Single Family Homes
New inventory (the number of homes going on the market) decreased 25.4% (53 YTD 2013 vs. 71 YTD 2012). There was a 18.8% increase in the number of sales (19 YTD 2013 vs. 16 YTD 2012). The average sales price of homes that have sold decreased 9.5% to $673,111. Overall, the average sales price for single family homes that have sold in Rockland County (inclusive of the river villages) was $404,729, a 0% change over the same period last year.

1Q YTD 2013 vs. 1Q YTD 2012 – Condos
New inventory (the number of condos going on the market) decreased 3.0% (32 YTD 2013 vs. 33 YTD 2012). There was a 64.3% decrease in the number of sales (5 YTD 2013 vs. 14 YTD 2012). The average sales price of condos that have sold decreased 11.0% to $321,300. Overall, the average sales price for condos that have sold in Rockland County (inclusive of the river villages) was $210,243, down 0.9% 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 in Rockland County? 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.

Comments (0)