If you need assistance, please call 914-290-5258

Q1 Hudson Valley home sales start strong, then there's March.

Wednesday, April 22, 2020   /   by Vanessa Saunders

Q1 Hudson Valley home sales start strong, then there's March.

2020-04-15.facemaskDollar.jpg
From Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.

April 22, 2020

The Novel Coronavirus has all but put the Hudson Valley real estate market “on pause” with Realtors forced since March 22 to navigate a myriad of regulations, including virtual showings only, to close residential transactions.

A recently released report by OneKey Multiple Listing Service indicated that the market area of the Hudson Gateway Association of Realtors entered the pandemic that took hold in March on a very strong note, with mostly higher sales and higher sale prices.

Westchester County experienced a 7.2% increase in single-family home sales with 1,055 sales compared with 984 sales in the first quarter of 2019. Rockland County had an increase of 15% with sales of 452 units compared to 393 units in the first quarter of 2019. Putnam County sales were up 8.7% at 224, Sullivan County single-family sales rose 6.1% to 209 units and Bronx County (not officially a OneKey service area) had an increase of 6% at 123 single-family unit sales. Orange County sales dropped 3.5% to 737 sales from 764 sales in the first quarter of 2019.

Below is a chart showing first quarter statistics for new listings, which shows the start of a precipitous drop in March as the pandemic's effects took hold.

Number of Homes for Sale shows the gradual slide that characterized the market from 2017 to 2019, which were just starting to show an upward turn until Q4 2019. First quarter 2020 shows a sharp drop off similar to new listings.
2020-04-22.ChartHomeSales.jpg

Closed Sales were on the way up until Q1 2020, again a shift downward.
2020-04-22.ChartClosedSales.jpg

The drop in sales for Q1 only serves to predict significant losses in Q2 as we enter the quarter with little in the pipeline. Hopefully our battle with the virus will progress well enough to lift the pandemic restrictions sooner rather than later. It's hard to sell a house when you aren't allowed to view it in person.

Global Property Systems says: Stay home safe.

For more information, CLICK HERE.


  hudson valley real estate, hudson valley home, 'urb to 'burb, housing sales inventory, pandemic

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


NY.png

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.
This site powered by CINC: www.cincpro.com