Double-Digit Increases in Single-Family Home Sales Continued Throughout Most of the Hudson Valley in January

Most single-family home sales in the lower Hudson Valley rose by double digits in January. Sullivan County sales jumped almost 60%.

WHITE PLAINS, NY, UNITED STATES, February 20, 2025 /EINPresswire.com/ -- All regions of the lower Hudson Valley, with the exception of Putnam County, experienced an increase in single-family home sales in January. Sullivan County garnered the highest percentage with a 59.5% rise in sales from January 2024. Westchester County single-family homes sales grew by 21%, and Rockland, by 18%.

Sullivan had the largest percentage increase in the median sales price, up 17.8% to $324,000, over last year’s median of $275,000. Westchester continues to lead with the highest median sales price of $880,000, over $870,000 last year.

The Bronx held the top spot for new listings in January, with single-family home listings soaring by 81.8% over January 2024.

Today’s report by the Hudson Gateway Association of Realtors (HGAR) is based on data supplied by OneKey^® MLS. “This year, we expect to see more balance in the vibrant Hudson Valley and New York City real estate markets, creating more options and affordability for prospective buyers,” said Lynda Fernandez, HGAR CEO. “Our expansive region continues to attract high demand, highlighting our exceptional lifestyle, quality of life, educational institutions, and strong job market. Our region also offers diverse housing types and price points in metropolitan, suburban, and rural areas.”

Bronx County

The Bronx condo market took the lead on closed sales in January with a 21.4% gain over last year. Single-family home sales grew by 12.5%, but co-op sales declined by 6.8% over last January. With a 12.8% rise, condos saw the highest percentage of price growth of any property types with the January median of $340.000. Single-family home median prices saw a small uptick at 0.8% to $640,000, but co-op median prices dipped by just one percent to $245,000.

New listings for single-family skyrocketed by 81.8 percent over last January – almost doubling the number of homes on the market from 44 last January to 80. Conversely, new listings for condos decreased by 31.3%, but the co-op market new listings grew by 9.3%. Inventory for all three property types declined, with condos seeing the largest drop at 39.8%. Inventory for single-family homes fell 7.3%, and 3.9% for co-ops. Months of supply were down 12.3% to 5.7 months, and pending sales advanced by 19.6%.

Westchester County

Closed sales of Westchester County’s single-family homes increased by 21% in January, followed by condos with a 14.7% gain. Co-op sales fell by just 1.7%. However, the co-op market experienced the largest percentage increase in median sales prices with a 22.9% rise, bringing the January median to $223,750. Single-family home prices rose by 1.1% to $880,000, but condo prices dropped 5.2% to $532,500.

Co-op new listings grew by 15.4%, followed by condos at 13.4% and single-family homes at 9.7%. Inventory for condos grew by 5.9% but declined for both single-family homes at 18.6% and co-ops by 6.3%. Months of supply for all property types dropped 9.5% to 1.9 months. Pending sales were up by 7.5%

Putnam County

Putnam County’s single-family home sales saw a slight decline of 4.8% in January, but the condo market experienced a 16.7% drop in sales. There were no co-op sales reported last month. The median single-family home sales price rose by 14.5% to $572,500, but the condo median sales price fell by 15.3% to $286,000.

New listings for single-family homes grew by 27.1% but declined by 30% for condos. While a smaller market in Putnam, condo inventory also dropped by 40%, while inventory for single-family homes saw a smaller decline at 4.6%. Inventory for Putnam’s co-ops, while traditionally a very small market, declined by 66.7%. Months of supply for all property types remained unchanged, with just two months in January. Pending rose decreased by 3.7%

Rockland County

Rockland’s co-op market saw the highest increase of closed sales for January at 25%, followed by single-family homes sales at 18.2% and condos at 15.8%. The condo median sale price received the highest percentage gain over January 2024 at 11.5% to $396,000, and single-family median prices rose by 5.1% to $743,000. Only the co-op median sales price declined at 37.2% to $139,000.

New listings for the condo market rose by 20.8%, and 15.3% for single family homes. New listings for the co-op market, however, plummeted by 50 percent. On a positive note, co-op inventory soared by 63.6% in January, and 29.9% for condos. Only the single-family home inventory declined, by 7.5%. Months of supply for all property types remained flat at 2.3 months, and pending sales decreased by 6.8%.

Orange County

In Orange County, only sales of single-family homes experienced an increase, by just 1.1%. Co-op sales fell by 33.3% and condos by 14.3%. The county’s co-op market, while very small, did end January on a positive note with a 54.8% rise in the median sales price to $209,000. The median price for single-family homes grew 9.2% to $475,000 but dropped by 10.4% for condos to $275,000.

New listings saw a 6.4% rise for single family homes, but a decline of 25% for co-ops and 22.6% for condos. However, condo inventory experienced a 27.3% gain, but inventory declined for single family homes by 1.8%. The co-op market inventory remained flat. Months of supply for all property types was up 3.6% to 2.9 months, and pending sales grew by 5.5%

Sullivan County

Sullivan County’s January sales of single-family homes escalated by 59.5% -- the highest percentage in the six-county region. There were no condo or co-op sales reported. Sullivan also held the lead for the highest percentage gain in median sales prices at 17.8% to $324,000.

While Sullivan’s condo market remains small, it did experience a 100% gain in new listings, from two in January to just one the previous year. New listings for single-family homes decreased by just 1.4%. Inventory for condos soared by 300% -- from four condos on the market in January, as opposed to just one last year. Single-family home inventory rose by 7.5% and the co-op inventory remained flat. Months of supply advanced by 11.5% to 5.8 months. Pending sales declined by 7.3%.

Mary T Prenon
HGAR
+1 9146810833
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