Ulster County Real Estate Statistics

After a second half recovery last year, sales of existing single-family homes in New York finished only 3.2-percent behind the 2008 total. The New York State Association of REALTORS® preliminary data indicates 77,176 existing single-family homes were sold statewide during 2009, 2008’s total was 79,689. Sales in the fourth quarter of 2009 increased 21-percent compared with the same period a year earlier, 22,626 single-family homes sold versus 18,789. It appears New Yorkers concluded late in 2009 it was a good time to buy. The federal homebuyer tax credit combined with moderating prices and historically low interest rates helped fuel the sales. This fourth quarter increase is reflected in the statewide median sales price statistics also. The median sales price was $199,999 for all of 2009, down 6.6 percent from a year ago, but would’ve been worse had it not been for the fourth quarter rise to $210,000. December’s posting of $222,000 as its median sales price was of particular note.

All housing markets are local. While we all realize the local market is not what it used to be, our market has not been as severely impacted as many locales across the country. Let’s take a look at a sample of the Townships in Ulster County to get a better, more accurate read of our area. Data derived from the Multiple Listing Service of Ulster County, Inc. indicate the following;

• New Paltz- New Paltz is one of a few Townships in Ulster County whose median sale price increased from 2007 to 2008. The median sale price decreased from $293,759 in 2008 to $277,000 in 2009, approximately 5.7% and the number of properties sold decreased dramatically from 108 in 2007 to 66 properties sold in 2008. 64 properties sold in New Paltz in 2009.
• Marbletown- the Township of Marbletown, which includes Stone Ridge, was another Town whose median sale price increased from ’07 to ’08, mostly due to a residential sale over the $2,000,000 mark. This was reflected in the median sale price dropping substantially from $321,371 in’08 to $282,500 in ’09, a +/-12.1% decrease. Interestingly though, the number of Residential properties sold in Marbletown has held relatively steady. According to the MLS of Ulster County, Inc. 65 residential properties sold in Marbletown in 2007, 62 properties sold in 2008 and 56 properties sold in 2009.
• City of Kingston- the property values in the City of Kingston have decreased substantially. 2007’s median sale price was $190,000. In 2008 that number went to $175,000 and last year the median sale price was approximately $155,000. Those numbers represent decreases of 11.4% from 2008 to 2009 and 18.4% from 2007 to 2009. On the encouraging side, the number of homes sold in Kingston went from 109 in 2008 to 145 last year. It’s no wonder Barbara Corcoran picked Kingston as one of the “Top Ten Cities to find Bargain Homes” on NBC’s “Today” Show. Ms. Corcoran stated she took into consideration things like Jobs, Schools, and future Property Values when compiling her list..
• Town of Ulster- the Town of Ulster wraps around a large portion of the City of Kingston. The price of Residential properties in the Town of Ulster have held pretty steady the last three years with the 2009 median sale price of $186,000 down only 2.9% from 2008’s median sale price of $191,500. In 2007 the median sale price of homes in the Town of Ulster was $201,500. In 2007, 86 residential properties were sold in the Town of Ulster. That number went down dramatically the next year (2008) to 54 properties sold but bounced back slightly to 64 properties sold last year.
• Woodstock- the Town of Woodstock’s median sale price didn’t move much from 2007 to 2008 ($360,000 to $350,000 respectively) but plummeted to $300,000 in 2009, a +/-14.3% decrease compared to the year before. Woodstock’s number of residential sales went from 109 in 2007 to 91 in 2008. There were 95 residential sales in Woodstock in 2009 according to the MLS of Ulster County, Inc..

The numbers portrayed above, while being fairly accurate, are simply statistics. Any well versed Real Estate Professional familiar with their market will tell you the numbers don’t tell the whole story. The fact of the matter is even if Median sale prices of homes in a particular area remain similar, you get more house for your money now than you did last year or two years ago. That’s why a great time to buy a house in Ulster County is NOW! A great time to buy a house in Kingston is NOW! A great time to buy a house in Woodstock, Stone Ridge, New Paltz is NOW! If you’d like help getting the most for your money, give me a call today.