Tuesday, July 11, 2017




Home sales up on west side of Hudson, down on east side

WHITE PLAINS – Orange County saw the greatest increase in single-family home sales in the four-county Hudson Gateway Association of Realtors’ region during the second quarter of the year with a 10 percent gain. Rockland County sales grew by 3.8 percent.

On the east side of the Hudson River, Putnam County home sales dipped by 5.1 percent while in Westchester they fell by 1.3 percent.

In the first six months of the year, home sales increased by 11.2 percent in Orange County and by 12.2 percent in Rockland. In Putnam, six-month sales fell by 3.6 percent while they rose in Westchester by 2.0 percent.

Realtors’ group President Dorothy Botsoe said the dip in sales is the result of a lack of inventory on the market.

“There is no inventory and a lot of emotional buying,” Botsoe said. “When you get in a multi offer situation, it becomes an emotional purchase and sometimes you end up overpaying for the homes. The lack of inventory has been very severe. We are hoping toward the fall things will come on the market and there will be a little bit of a balance between sellers and buyers here so that more people can get into homes.”

Median prices rose in all four counties. End of the second quarter inventory of available homes fell in all four counties, indicating brisk sales.


Copyright © 2017 Mid-Hudson News Network, a division of Statewide News Network, Inc.
This story may not be reproduced in any form, by any media, without express written consent.
This includes rewriting, broadcasting and/or printing of material from MidHudsonNews.com,
by websites, radio and television stations, newspapers or other media



HEAR today's news on MidHudsonRadio.com, the Hudson Valley's only Internet radio news report.