07/23/2024
TOP STORY
HGAR Report: Westchester County Hits a New Record Single-Family Home Sales Price of $1.03 Million
Median sales prices for single-family homes continued to rise in June, with the exception of Sullivan County, which experienced a decline of 5.1%. Westchester County once again reached a new record high for the median single-family home price at $1,031,500 in June—a 12.7% increase over last year’s median home price of $915,000.
Putnam County posted the highest gain of 19.2%, bringing its June 2024 median sales price to $590,000, as compared to last year’s median price of $495,000. Sales were down in all counties in the Hudson Gateway Association of Realtors market area, with Orange County posting the largest decline in single-family home sales at 26.9%, followed by Putnam and Sullivan counties, which posted the same 16.9% fall-off in sales activity.
“Limited supply and strong demand continue to be the driving forces in our markets right now, particularly for single-family homes,” said HGAR CEO Lynda Fernandez. “We expect lower interest rates and higher levels of inventory to help stabilize pricing and to generate more home sales in future months.” Read the full Real Estate In-Depth story.
