Often, I get calls from homeowners who want to know about how much their home would sell for in today’s market. There are several factors to consider when determining market value: current market conditions, homes that have recently sold or are under contract, homes currently for sale and homes that have failed to sell. The first step is to analyze the overall market with regard to price trends, buyer demand vs. the number of homes on the market and other factors. Then evaluate homes with similar characteristics to yours that have sold. Sold data is vital because it shows what buyers have actually been willing to pay for homes similar to yours. Then review homes currently on the market. It’s important to be careful here because, as these homes have yet to sell, the asking price may or may not accurately reflect the value of the home. Finally, take a look at homes that were on the market but didn’t sell and evaluate the reasons why. By carefully and objectively analyzing these factors you will likely get a good idea of the current value of your home. With that here are the homes that sold during April.
How is the real estate market in Rockland County’s rivertowns? Here’s an overview of how April YTD 2014 compares to April YTD 2013.
April 2014 YTD vs. April 2013 YTD – Single Family Homes
New Inventory (the number of homes coming on the market) decreased 12.4% (85 YTD 2014 vs. 97 YTD 2013). There was a 16.7% increase in the number of sales (28 YTD 2014 vs. 24 YTD 2013). The average sales price for homes that have sold increased 1.6% to $666,779. Overall, the average sales price for homes that have sold in Rockland County (inclusive of the river villages) was $431,092, up 6.6% over the same period last year.
April 2014 vs. April 2013 – Condos/Co-ops
New inventory (the number of condos coming on the market) decreased 21.4% (33 YTD 2014 vs. 42 YTD 2013). There was a 57% increase in the number of sales (11 YTD 2014 vs. 7 YTD 2013). The average sales price of condos that have sold decreased 8.5% to $327,591. Overall, the average sales price for condos that have sold in Rockland County (inclusive of the river villages) was $210,511, down 1.3% over the same period last year.
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.
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.
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Better Homes and Gardens Real Estate Rand Realty
46 S. Broadway Nyack, NY 10960