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April 2020 numbers show Hudson Valley Real Estate Market down.

Thursday, May 21, 2020   /   by Vanessa Saunders

April 2020 numbers show Hudson Valley Real Estate Market down.


From Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.

April 21, 2020

If you are planning to buy or sell a home in the Hudson Valley any time soon, you may be interested in statistical information showing recent market activity in Westchester, Rockland and Orange counties. Our MLS registers and aggregates data on all such activity, and it is available to anyone through their real estate agent or Realtor. The charts in this blog come from the OneKey Hudson Valley MLS.

The reports for April are in, and generally show a down-tick in activity across most markets. Westchester new listings were off 14.5% from April 2018, as sellers began to back off due to uncertainty in the first month of the COVID-19 shutdown rules. Rockland and Orange counties also showed fewer new listings to a lesser degree.

Westchester

2020-05-21New ListingWestchester.jpg

Rockland

2020-05-21.1NewListingRockland.jpg

Orange

2020-05-21.2NewListingOrange.jpg

Pending Sales came up a little short across the boards for all three counties. Keep in mind that pending sales figures are more a reflection of March activity rather than April because contracts for April are typically signed the month before.

Westchester:

2020-05-21.1PendingWestchester.jpg

Rockland

2020-05-21.2PendingRockland.jpg

Orange:

2020-05-21.3PendingOrange.jpg

Median selling prices skyrocketed in all three counties, reflecting the market turning to favor sellers as homes-for-sale inventory dropped. The current inventory for Hudson Valley real estate is at 3 months supply, a definite number indicating a seller's market.

Westchester:

2020-05-21.1MedianPrice.Westchester.jpg

Rockland:

2020-05-21.MedianPrice.Rockland.jpg

Orange:

2020-05-21.MedianPrice.Orange.jpg

Single Family Home Listings for the entire OneKey Hudson Valley Multiple Listing Service.

Single Family Home Sales across the region were heading upwards in 2019, with a near 13% gain overall. Compare that to April 2020 and you can see the start of a negative market change as April numbers for the Hudson Valley region soften.

Predictions for May 

Our crystal ball for the next month tells us that as bad as April was, May will be worse. The good news? Homes for sale will be in even shorter supply as potential sellers postpone listing for less unsettled times. That leaves a load of buyers ready and willing to snap up any property that suits their needs.

2020-05-21AprilNewMLS.jpg

For more information, go to our website contact page: https://www.searchhomesinny.com/page/contact-us/


Rockland

Orange

Pending Sales

Pending Sales came up a little short across the boards for all three counties. Keep in mind that pending sales figures are more a reflection of March activity rather than April because contracts for April are typically signed the month before.
Westchester:

Rockland:

Orange:

Median Sales Price

Median selling prices skyrocketed in Westchester, and also went up in Rockland, reflecting the market turning to favor sellers as homes-for-sale inventory dropped. The current inventory for Hudson Valley real estate is at 3 months supply, a definite number indicating a seller's market.

Westchester:

Rockland:

Orange:

Single Family Home Listings for the entire OneKey Hudson Valley Multiple Listing Service.

Single Family Home Sales across the region were heading upwards in 2019, with a near 13% gain overall. Compare that to April 2020 and you can see the start of a negative market change as April numbers for the Hudson Valley region soften.

Predictions for May, 2020

Our crystal ball for the next month tells us that as bad as April was, May will be worse. The good news? Homes for sale will be in even shorter supply as potential sellers postpone listing for less unsettled times. That leaves a load of buyers ready and willing to snap up any property that suits their needs.

For more information, go to our website contact page:
https://www.searchhomesinny.com/page/contact-us/cp30fa5672d8b04c


  hudson valley real estate, hudson valley property, hudson valley home owners, hudson valley home sellers, orange county ny, westchester county, rockland county, ulster county, sullivan county, dutchess, pandemic, upstate ny, the economy, health crisis

Global Property Systems
Vanessa Saunders MBA MIMC CIPS - NYS RE Principal Broker
56 Lafayette Avenue Suite 320
White Plains, NY 10603
914-290-5258


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The data relating to real estate for sale or lease on this web site comes in part from MHMLS. Real estate listings held by brokerage firms other than Vanessa Saunders - Global Property Systems are marked with the MHMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. The information appearing herein has not been verified by the Mid-Hudson Multiple Listing Service, Inc. or by any individual(s) who may be affiliated with said entity, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this web site, at any time or from time to time. All such information should be independently verified by the recipient of such data. This data is not warranted for any purpose. ©2020 Mid-Hudson Multiple Listing Service, Inc. All rights reserved.
The data relating to real estate for sale or lease on this web site comes in part from One Key, Inc. Real estate listings held by brokerage firms other than Vanessa Saunders - Global Property Systems are marked with the One Key, Inc logo or an abbreviated logo and detailed information about them includes the name of the listing broker.

The information appearing herein has not been verified by One Key, Inc or by any individual(s) who may be affiliated with said entities, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this web site, at any time or from time to time. All such information should be independently verified by the recipient of such data. This data is not warranted for any purpose.

©2020 One Key, Inc. All rights reserved.

The data relating to real estate on this website comes, in part, through the IDX of the Multiple Listing Service of Ulster County, Inc. Real estate listings held by brokerage firms other than Vanessa Saunders - Global Property Systems are marked with the IDX logo and detailed information about them includes the name of the listing broker.