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Sullivan County NY Sales Data 2018

For 2017, home sales in Sullivan County NY increased by 2.2 percent with end of year total accounting for 590 home purchases.  Median prices rose from $128,000 to $135,000 accounting for a 5.5 % increase from 2016 levels.  Medium pricing is defined by 50 percent of homes sold fall above $135,000 with the remaining 50% falling below that number.  (See Local Realtors: Pace of home sales largely returning to prerecession levels)

Local Sullivan County brokers anticipate stronger sales for 2018 with many more showings occurring in the usually slower winter months.  The “Casino Effect” has shaped the Monticello, NY market to some extent by creating excitement and new motivation for home buyers to consider buying while commercial investors continue to eye the area to determine long term investment potential.

Overall, realtors® are optimistic 2018 will continue the upward trend with m.)ore buyers and somewhat higher pricing due to stronger demand.  The rental market is being driven by the new casino housing demands while other businesses continue to expand job opportunity creating a better return on investment for rental property.

Hudson Valley Market Report–Orange County Rises 8.2 % in Third Quarter

County NY real estate is on fire.  There isn’t enough inventory to cover the needs of a growing population ready to buy.  The tale of the tape centers on not enough inventory to satisfy the market place.  Median prices are up, sellers few.  Low supply, high demand kicks in a seller’s market with many buyers being disappointed in losing bidding wars.

Read the full report and gain an understanding of the current real estate market in the Mid-Hudson Region.  Then, contact me to discuss how we can get in the door and get to closing under current conditions.

John Kavaller–Broker at Catskill Country Real Estate