Rockland County New York Real Estate (Rockland Homes & Condo Listings for Sale)

This morning’s Journal News once again addresses the issue of the local market in Rockland and other lower Hudson Valley areas. 

If you are a frequent visitor to this site you know that I watch the market closely.  What is of particular interest to me is the comment by LoHud that ”There were 14.2 months of inventory in Westchester, 18.4 months in Rockland and 19.8 months in Putnam during the first quarter of the year.”

Good news?  Well, it depends upon what side of the fence you are on.  Good news for buyers…YES!  Not such great news for sellers.  In the case of inventory control in Rockland, this, folks is a lot of inventory.  

Generally speaking, a healthy real estate market has about a 6 month’s supply of homes on the market. More than that is a supply glut (too many homes and not enough buyers– good for buyers), less is a demand boom (houses selling off the shelves– good for sellers).

Another interesting thing to consider now is the tax credit that will be expiring on April 30.  Time will tell if the increase in demand was a result of that tax credit or merely a seasonal uptick.   In any case, it’s going to be another interesting spring in the Rockland County Real Estate market.

Check back for updates.  I update my market reports once monthly, usually around the middle of the month.  They cover the entire Rockland County residential condo and co-op market.  Those reports are available here, or simply click on Market Reports on the right sidebar of this page.

Think buyers are not taking advantage of the Tax Credit? I think they are. We rarely see this kind of sales activity betwen November to February.   Click on the graphic below.    202 Closings OR buyers waiting to close who are under contract took place from Nov.09 to Februay 28 10.