The big news this week is the potential for interest rates for new mortgage loans to drop to the mid-4's. In theory, that should bring buyers who are sitting on the fence into the marketplace. Good news for sellers in Rockland County. (And buyers, too!)
The mortgage professionals I've spoken with have said the number of calls they've received is up. It's too early to see if this will make any difference in the number of homes sold because takes a couple of weeks for homes show up under contract. The holidays are right around the corner, and many people are on vacation, so I expect to see an increase of homes under contract early in the new year, if the mortgage news has made a big difference. It will be very interesting to see what happens.
This week's numbers are almost unchanged from last week's, with the exception that average days on market for condos is up while average sales price is down.
The following statistics are from the Greater Hudson Valley MLS as of 12/14/2008, and represent an average for Rockland County. If you are interested in what is going on in your neighborhood, I'd be happy to provide that information. Please contact me at firstname.lastname@example.org or 845.521.3135
|Rockland County Market Snapshot|
|Week Ending 12/13/2008|
|Single Family||Condo||Multi Family|
|Total Active||1175||Total Active||419||Total Active||88|
|New Listings||34||New Listings||12||New Listings||3|
|Price Revisions||67||Price Revisions||24||Price Revisions||4|
|Under Contract||18||Under Contract||7||Under Contract||3|
|Avg Sale Price||$474,225||Avg Sale Price||$226,875||Avg Sale Price||X|
|Avg Days on Mkt||120||Avg Days on Mkt||151||Avg Days on Mkt||X|
jennifer mallory | associate broker | "real integrity in real estate"
keller williams hudson valley realty II | 130 N. Main St, Nyack, NY 10960
845.521.3135 | 845.323.6247 mobile | www.jennifermallory.com