Local Real Estate Market Ends 2014 Strong

The following real estate report is from Hudson Gateway Association of Realtors:

The recovery of the real estate market in the lower Hudson region of New York continued strong throughout 2014 including its fourth quarter.

Realtors participating in the Hudson Gateway Multiple Listing Service, a subsidiary of the Hudson Gateway Association of Realtors, reported 14,169 closed residential transactions during 2014 among the four counties of the MLS’s core service area: Westchester, Putnam, Rockland and Orange. This was the highest number for any year since the 2008-2009 recession and 1.1 percent more than in 2013.

The highest percentage increase – 6.3 percent - was posted in Putnam County. Rockland followed at 3.4 percent, Westchester at 0.6 percent, and Orange lost a little ground with a decrease of -0.8 percent. Westchester, Rockland and Orange Counties all edged back on total sales of single family houses with decreases of 0.9 percent, 0.6 percent and 1.7 percent respectively.

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However, they counterbalanced those losses with gains in their respective condominium and cooperative sectors. Again, Putnam County stood out with an actual increase of 6.1 percent in single family house sales.

The fourth quarter postings of 2014 were especially strong in comparison to the fourth quarter of 2013. There were 3,715 closings among all four counties during October through December of 2014, an increase of 6.9 percent over the same period of 2013, and on an individual basis each county posted an increase.