Real Estate
Median Home Prices Jumping In The Hudson Valley
The Hudson Gateway Association of Realtors reports higher prices and smaller inventory.
![](https://patch.com/img/cdn20/users/68471/20180711/100508/styles/raw/public/processed_images/hgar-1531317818-7198.jpg)
HUDSON VALLEY, NY — As the number of houses available for sale continues to shrink, the median price for single-family dwellings continues to rise, according to the Second Quarter report from the Hudson Gateway Association of Realtors.
- In Orange County the median sales price of $250,000 in the second quarter of 2018 showed a 6.4 percent gain over the same period in 2017.
- Rockland saw a 6.2 percent gain over the second quarter of 2017, to a median sales price of $468,750.
- In Westchester County the median sales price was $710,800, up 6.1 percent compared to $670,000 in 2017.
- The one exception was Putnam County where the median price of a single-family residential dwelling rose only 1.4 percent. Putnam's small market size means a single transaction can skew the data.
Available inventory dropped sharply other than in Westchester: 9.5 percent in Putnam, 8.1 percent in Orange
and 4.1 percent in Rockland County. That's affecting the number of sales. In Orange, Rockland and Westchester, sales were down for single-family houses, condos and co-ops.
The report's prognosticators ended on a hopeful note:
Find out what's happening in Peekskill-Cortlandtwith free, real-time updates from Patch.
It is too early to determine what effect the recently passed tax reform law may be having on sales,
which remain at historic highs. New construction, still attractive mortgage rates and a vibrant Hudson
Valley economy continue to point to prospects for a good year, despite headwinds created by chronic
low inventory.
Image via HGAR
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.