House Sales Drop In Orange, Putnam and Rockland County
The housing market isn't on the rise in the Hudson Valley anymore, instead, it's dropping.
According to West Fair Online, the housing sales have dropped in the lower Hudson Valley region. Specifically, Orange County, Putnam County, Rockland County, and Westchester County. Home sales were either flat or dropped in these counties for the first quarter of 2018.
In the first quarter of the year, there were 3,595 home sales, including condos, single-family homes, and multi-family homes, according to the article. This was a 3% decrease from the same time period in 2017.
Rockland County experienced the biggest drop in sales, according to the article. For the first quarter in 2016 to 2017, there was a 13.7% drop. But the average house price increased by 2.4%.
Putnam County saw an increase in residential homes of 7.2%, but an 11.4% drop in condos, according to the article. Their house prices increased the most, by 9.4%.
Orange County only saw a .5% drop in housing sales, and single-family house prices rose by 4.3%.
This news of lower housing sales isn't new. As housing sales in these lower Hudson Valley counties have dropped overall in 2017 compared to 2016.