White Plains – Even with below zero temperatures and one of the most rugged winters in recent memory – the Sullivan County real estate market is red hot.

Today’s report from Hudson Gateway Association of Realtors (HGAR), revealed that Sullivan County garnered the highest percentage  with a 59.5 percent rise in sales from January 2024. 

Sullivan also took the lead for the largest percentage increase in the median sales price, with a 17.8 percent uptick to $324,000, over last year’s median of $275,000.  

Inventory for almost all property types declined in all regions in January. 

Today’s report by the Hudson Gateway Association of Realtors (HGAR) is based on data supplied by OneKey® MLS. 

The counties reporting include Sullivan, Orange, Putnam, Westchester, Rockland and The Bronx.

“This year, we expect to see more balance in the vibrant Hudson Valley and New York City real estate markets, creating more options and affordability for prospective buyers,” said Lynda Fernandez, HGAR CEO. “Our expansive region continues to attract high demand, highlighting our exceptional lifestyle, quality of life, educational institutions, and strong job market. Our region also offers diverse housing types and price points in metropolitan, suburban, and rural areas.”

Sullivan County

Sullivan County’s January sales of single-family homes escalated by 59.5% percent – the highest percentage in the six-county region. There were no condo or co-op sales reported.  

Sullivan also held the lead for the highest percentage gain in median sales prices at 17.8 percent, to $324,000.

While Sullivan’s condo market remains small, it did experience a 100 percent gain in new listings, from two in January to just one the previous year.   

New listings for single-family homes decreased by just 1.4 percent.  Inventory for condos soared by 300 percent – from four condos on the market in January, as opposed to just one last year.  

Single-family home inventory rose by 7.5 percent and the co-op inventory remained flat. Months of supply advanced by 11.5 percent to 5.8 months. Pending sales declined by 7.3 percent. 

Orange County

In Orange County, only sales of single-family homes experienced an increase, by just 1.1%.  Co-op sales fell by 33.3% and condos by 14.3%.  The county’s co-op market, while very small, did end January on a positive note with a 54.8% rise in the median sales price to $209,000.  The median price for single-family homes grew 9.2% to $475,000 but dropped by 10.4% for condos to $275,000.

New listings saw a 6.4% rise for single family homes, but a decline of 25% for co-ops and 22.6% for condos.  However, condo inventory experienced a 27.3% gain, but inventory declined for single family homes by 1.8%.  The co-op market inventory remained flat. Months of supply for all property types was up 3.6% to 2.9 months, and pending sales grew by 5.5%