MID-HUDSON – The combination of high interest rates and low inventory have dampened buyer demand and were the chief reasons for double-digit declines in home sales in the third quarter of the year in the Hudson Gateway Association of Realtors market area, the trade organization says.
Westchester County had the lowest decline in sales of single-family home at a 19.9 percent drop when comparing the third quarter of 2022 to the third quarter of 2023.
Sales dropped by 24 percent in Orange County when comparing the third quarter of each year.
In Rockland County, sales declined by 25.1 percent.
Sales of single-family homes in Sullivan County dropped by 28.5 percent while they declined the most in Putnam County, at 30.7 percent.
| COUNTY | 3rd quarter 2022 single-family home sales | 3rd quarter 2023 single-family home sales | Percentage change |
| Westchester | 2,104 | 1,613 | -19.9 % |
| Orange | 1,028 | 781 | -24.0 % |
| Rockland | 653 | 489 | -25.1 % |
| Sullivan | 302 | 216 | -28.5 % |
| Putnam | 326 | 226 | -30.7 % |
| COUNTY | 3rd quarter 2022 average selling | 3rd quarter 2022 average selling | Percentage change |
| Westchester | $870,500 | $925,000 | 6.3 % |
| Orange | $420,000 | $450,000 | 5.6 % |
| Rockland | $660,000 | $690,000 | 4.5 % |
| Sullivan | $279,000 | $299,500 | 7.3 % |
| Putnam | $505,100 | $510,000 | 1.0 % |
