I am more than 12 hours late posting this blog entry. I usually put the weekly market snapshop up early on Sunday mornings. I am late today due to the holidays. That's all I'll say, because I'm tired. And just a bit cranky.
However, always the optimist, I am beginning to think that the spring real estate market in Rockland County may be busy. In the past couple of days, I've had three calls for CMAs, and two from new buyers. Pretty unusual this time of year. Makes me busier than usual, and I'm delighted to have people to help and business to conduct early in the new year.
I am a bit surprised at the number of houses that listed last week in Rockland County, as well as the number of houses that went under contract. Both numbers were relatively unchanged from the week before. Sellers and buyers seem to be taking care of business this year before getting down to holiday celebrations. Total number of homes on the market is down 13% from mid-October, however. It seems that a lot of the homes that expired off the market this fall have not relisted.
Note that the average sale price shot way up this week for single family homes. This is because three high priced homes sold, at $1,700,000, $999,999, and $910,000. These three transactions skewed the average sale price much higher than it has been. Removing them from the mix makes the average sale price of a single family home in Rockland County, NY $438,625, which is consistent with average sale prices in the past 6 weeks.
The condo market is pretty much unchanged from last week. Multi-family homes saw the first title transfer in three weeks.
Mortgage rates have remained stable at 5.375% for the third straight week, but are expected to dip in the coming week. There's a lot going on this time of year for everyone...seems to me that these kind of rates would send buyers scurrying to take advantage!
Here are the market statistics for Rockland County, NY. Information is from the Greater Hudson Valley MLS as of 12/21/2008, and represent an average for the county. If you are interested in finding out what is happening in your neighborhood, please contact me. Happy holidays!
|Rockland County Market Snapshot|
|Week Ending 12/20/2008|
|Single Family||Condo||Multi Family|
|Total Active||1151||Total Active||400||Total Active||85|
|New Listings||38||New Listings||6||New Listings||1|
|Price Revisions||38||Price Revisions||12||Price Revisions||2|
|Under Contract||21||Under Contract||8||Under Contract||1|
|Avg Sale Price||$523,593||Avg Sale Price||$271,967||Avg Sale Price||$255,000|
|Avg Days on Mkt||86||Avg Days on Mkt||76||Avg Days on Mkt||113|
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