Rockland County NY Real Estate Market Report January 2012 - December 2012 Reesidential Single Family Homes Sold By Area
How's the real estate market doing in Rockland County? In 2012 single family residential home sales were up in Rockland County by over 11% and overall its the best improvement that the market has seen in a few years (since approximately 2007). Pricing is still down but with rising buyer demand and continued low interest rates things are looking up. Even with increased buyer activity prices are still hovering around the 2003-4 levels but the good news is they are no longer in a free-fall and though prices for the year were down, average sales price for the last quarter of 2012 were up slightly. Let's hope this is the start of a positive pattern for the year and the beginning of a housing recovery. If we continue to see increases in sales activity and a depletion in inventory we might see prices rising, though moderately, by the end of the year.
That being said, there are some areas in Rockland County that are more stable than others. Though no place in the county are we yet experiencing a sellers market, the markets in Clarkstown and Orangetown are balanced with flat to moderate depreciation. Ramapo and Stony Point are still in a normal buyers market with Haverstraw trailing behind in an extreme buyers market.
On average, its still taking upwards of 3 months to get a home sold but as the number of sales continues to go up, we should see a drop in the average days on market.
All in all, it looks like the worst may be behind us .
If you'd like more specifics about how your neighborhood in particular is behaving in this market, give me a call and I'll be happy to provide you with the data. Leah Stern at 914-772-4528