March 2013 Market Report for Rockland County NY By Area

By
Real Estate Agent with Coldwell Banker, 170 N Main Street, New City NY 10956

Rockland County NY March 2013 Monthly Market Report

Let's take a look at what the market has been doing in  Rockland County NY for March 2013.

January started with a bang but, February sales and activity were disappointing with sales nowhere as strong as January's indications.  However the pending sales for February were all pointing to a good and active March and it did not disappoint.

Overall there is more activity in the market with buyers finally coming out and trying to snag a deal before the market turns into a sellers market.  Though that is happening in many areas of the country, Rockland has not quite gotten there yet.  We've long passed the point of an extreme buyers market and we are no longer seeing high depreciation but we're still a ways from a sellers market.  Some areas, Orangetown and Clarkstown in particular are experiencing a balanced market but most of the county is in a normal buyers market and though prices are not rising in most of the county, there is little to no depreciation in most areas.

Houses that are well priced and show ready are getting many showings and multiple offers with low offers being rejected.  Buyers hoping for a steal of a deal are often meeting up with dissappointment as they find themselves in mutiple bid situations.

  March 2013 Market Report for Rockland County NY

 
The average sale price of homes in the county in most areas is holding steady.  The good news is that the number of units sold has been increasing and the hope is that as inventory decreases the prices will stabilize and then start to inch up.

The buyers getting off the fence are trying to lock into a new home at great low rates (which won't be around forever as they are already inching up) though they are finding that the number of choice homes available is dwindling.

The greatest number of sales continues to be in the $350,000-$450,000 price range and if properly priced and in good condition those homes are moving quickly.  Just to put things in perspective, a 1% increase in mortgage rates reduces your buying power by about 10%.  (In other words if the rates go up 1% that house you had your eye on that was priced at $500,000 is no longer affordable.  Your high price point would be reduced to $450,000)  Savvy buyers that have been out there looking are primed to recognize good value and come prepared to jump in and make an offer hence the multiple offers situation.

If you've been thinking of buying, NOW is a great time to buy and if you're one of those buyers prepared to jump off the fence and make a move, or a seller looking to cash in on the buying frenzy to get your house SOLD, give me a call, Leah Stern 914-772-4528 and I'll be happy to help you.

Posted by

Lora "Leah" Stern - Your Rockland County, NY REALTOR of Choice - (914) 772-4528

Your Rockland County, NY Real Estate SpecialistLeah Stern Signature Photo

Lora "Leah" Stern
Real Estate Salesperson
Coldwell Banker Residential Brokerage
(914) 772-4528 CELL
(845) 634-0400 OFFICE
(862) 345-2463 FAX

If I can assist you in any way with your real estate needs in Suffern, NY Rockland County or the surrounding areas, please feel free to contact me by phone at (914) 772-4528, email me at Leah.Stern@cbmoves.com or visit my website .

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Comments (12)

Toni Weidman
Sailwinds Realty - Trinity, FL
20+ Years Selling Homes in New Port Richey, FL

Good report, Leah. I like that you got all the towns in one report. I can't seem to do that with our IDX. Very easy to comprehend too.

Apr 04, 2013 10:46 PM
Debbie Walsh
Shahar Management - Middletown, NY
Hudson Valley NY Real Estate 845.283-3036

Nice looking report Leah - I like the format you are using.  Things have moved along right through the winter this year thank goodness. 

Apr 04, 2013 11:37 PM
Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Leah, Nice Market Report on Rockland County. I wish I was able to put you a similar format. Buyers do need to move with some sense of urgency before your market shifts.

Apr 05, 2013 02:35 AM
Lora "Leah" Stern 914-772-4528
Coldwell Banker, 170 N Main Street, New City NY 10956 - New City, NY
Real Estate Salesperson

Toni - Thanks for stopping by and glad you find it easy to comprehend.

Debbie - Glad things are looking up for you.

Jerry - Glad you're all liking the format.  (I wasn't sure if I did).    We're beginning to see a shift - just hope the buyers realize it and that they come out in droves.

Apr 05, 2013 05:13 AM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

The market has a mind of its own, it will continue to change month in and month out. Nice job sharing the report.

Make it a great weekend.

Apr 06, 2013 07:15 PM
Lora "Leah" Stern 914-772-4528
Coldwell Banker, 170 N Main Street, New City NY 10956 - New City, NY
Real Estate Salesperson

Joe - Not only does it have a mind of its own, but it changes from locale to locale and from day to day.  Thanks for stopping by.

Apr 07, 2013 04:12 AM
David Burrows
Classic Realty - Fairfax, VA
No Pressure, Just Seriously Devoted to Real Estate

Lora, you are doing a very good thing in keeping your readers informed about the housing stats in your area. Thanks for sharing today.

Apr 11, 2013 01:41 AM
Lora "Leah" Stern 914-772-4528
Coldwell Banker, 170 N Main Street, New City NY 10956 - New City, NY
Real Estate Salesperson

David, thanks and thanks for stopping by.  Market reports may be boring but its info all buyers and sellers are interested in knowing.

 

Apr 11, 2013 10:35 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Good information for home buyers and home sellers.  I hope you are having a most productive month as home buyers continue to take advantage of the very low mortgage interest rates.

Apr 12, 2013 04:12 AM
Lora "Leah" Stern 914-772-4528
Coldwell Banker, 170 N Main Street, New City NY 10956 - New City, NY
Real Estate Salesperson

Roy, the buyers are out there but they are all looking for that move in ready bargain and not prepared for the multiple offers of others wanting the same thing.  It'll take them awhille to adjust and get realistic it terms of what it takes to get their choice home.

Apr 12, 2013 04:23 AM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

The markets are starting to change and buyers must now be ready, willing and able to buy or miss out on a great deal!

Apr 13, 2013 11:30 PM
Lora "Leah" Stern 914-772-4528
Coldwell Banker, 170 N Main Street, New City NY 10956 - New City, NY
Real Estate Salesperson

Larry & Sheila - so true.  Glad to hear that it's starting to heat up your way too.

Apr 14, 2013 12:00 PM

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