SULLIVAN COUNTY — The spring housing market is showing signs of renewed life across New York, with notable gains in sales and prices in many Hudson Valley counties, according to the Hudson Gateway Association of REALTORS® (HGAR). 

Meanwhile, the broader statewide market is seeing the first increase in inventory in over a year, offering some relief to supply-constrained buyers.

“While the regional housing market remains competitive, with single-family home prices up year-over-year, we’re observing varied trends across different property types and counties,” said CEO of HGAR Lynda Fernandez. 

County Snapshots

Sullivan County:  While single-family home sales dipped by 13.2 percent, median prices surged 18.3 percent to $355,000. New listings rose 19.1 percent, and pending sales climbed 20.8 percent.

Orange County: Single-family sales rose 12.9 percent, with median prices up 10.6 percent to $475,500. Condo sales dipped slightly, but condo and co-op prices rose 19 percent and 11.7 percent, respectively.

Bronx leads Hudson 

Valley in sales growth

The Bronx saw the most dramatic surge in single-family home sales across the region in March, with a 20.7 percent increase over the same month last year. Westchester, Orange, and Rockland counties also posted gains in single-family transactions, while Sullivan and Putnam counties saw modest declines.

Median prices for single-family homes continued their upward trend in every Hudson Valley subregion. Sullivan County led the region with an 18.3 percent jump in median price—from $299,998 in March 2024 to $355,000 last month. The Bronx, Rockland, and Orange counties also recorded double-digit price increases.

Condos and co-ops 

see big gains

Condominium sales also performed strongly. Westchester saw a 20 percent year-over-year increase in condo sales, while Rockland followed with an 18% gain. Condo prices in Rockland jumped 27 percent to a new median high of $454,500. The Bronx and Orange counties each reported condo price increases of over 19%.

Co-op sales soared in the Bronx, spiking by more than 65 percent from last year. Rockland’s co-op market posted the region’s highest price growth—up nearly 32 percent to a median of $208,825.

Inventory and listings begin to rebound

The number of new listings rose in nearly every part of the region, with the Bronx leading single-family home listings at a 48 percent increase. Inventory changes varied, but most counties saw at least slight gains. Months of supply for all property types across the region rose 23.8 percent to 2.6 months, indicating a slowly improving market for buyers.

Statewide trends show cautious optimism

According to the New York State Association of REALTORS® (NYSAR), statewide housing inventory rose one percent in March—the first annual increase in over a year. New listings climbed 8.8 percent year-over-year, from 11,377 in March 2024 to 12,380 last month.

Despite this progress, closed sales remained relatively flat, down 0.6 percent from March 2024, while pending sales fell 3.5 percent. Mortgage rates held steady, averaging 6.65 percent in March.

Home prices across the state continued their steady climb, rising 11.8 percent from $380,000 to $425,000—a 20th consecutive month of year-over-year increases.