1st Quarter Market Report for the Hudson Valley Rivertowns

The first quarter market results have been released by the Greater Hudson Valley Multiple Listing Service. In stark contrast to the rest of the county, the number of sales of single-family homes in the river villages increased 44% quarter-over-quarter and sales volume was up more than 11%. Once again proving that this area is still one of the most sought-after places to live and homes in our area are in demand. Countywide, sales were down 35% and sales volume decreased 38%. Overall, the average sales price for single-family homes in the river villages was down quarter-over-quarter. One of the primary factors that affected the average sales price was the mix of properties that sold, specifically fewer sales of high-end homes - homes selling for $1M and higher. Sales in this price range slowed. Last quarter there were five sales over $1M; this quarter there was one. (This is not unique to the river villages; overall Rockland County experienced a 60% decline in $1M+ market during the first quarter). The good news is that spring is here, buyers are out there and interest rates remain historically low. We are perfectly poised for a great second quarter.