KINGSTON – Home sales in Ulster and neighboring counties rose by 14 percent in 2020 when compared to 2019, according to figures from the Mid-Hudson Catskill Region Multiple Listing Service.
MLS President Tim Sweeney, said there is one overarching reason for the increase in home sales.
“When you have demand like this, your inventory starts to go down which drives prices up,” he said. “The pandemic like 9/11 caused an additional factor and there are people who just want to relocate to a more rural area, which is an additional factor in taking those prices upward.”
In 2019, 2,120 homes were sold in the greater Ulster County area compared with 2,413 sold in 2020.
The average selling price rose by 26 percent, going from $300,160 to $378,394.
Because of the high demand, inventory is declining with many people purchasing land and building new homes.
