Real Estate Food for Thought…
You’ve just put your home on the market and feel it’s priced competitively. Or maybe it’s been on a while and you’ve just adjusted your price downward to increase buyer interest. Then it happens – a buyer makes an offer to purchase your home. That’s great, but the offer is significantly lower than you expected. How do you respond? Let there be no doubt; selling a home can be a highly emotional experience. However, if left unchecked, emotions could cost you thousands of dollars. So, what do you do? First, keep in mind the buyer has probably seen every home on the market in your price range. They could have made an offer on any one of those homes. They chose yours and, despite the difference in price, it’s still a wonderful thing. Second, always make a counter offer. Very often these offers, through negotiations, result in a sales price both the seller and the buyer can live with. By categorically rejecting a low offer, you will never know what could have happened. The objective is to keep your emotions in check and the lines of communication open until you reach your goal of a successful sale. With that, here are the homes that sold in the rivertowns in May.
How is The Rockland County Rivertown Real Estate Market?
May 2017 YTD vs. May 2016 YTD – Single Family Homes
New Inventory (the number of homes coming on the market) decreased 4.5% (107 YTD 2017 vs. 112 YTD 2016). There was a 13.6% increase in the number of sales (50 YTD 2017 vs. 44 YTD 2016). The average sales price for homes that have sold increased 7.7% to $713,006. The median sales price decreased 11.1% to $527,000. Overall, the average sales price for homes that have sold in Rockland County (inclusive of the rivertowns) was $462,889, up 3.2% over the same period last year. The median sales price in Rockland County (inclusive of the rivertowns) was $430,000, up 5.7% over the same period last year.
May 2017 YTD vs. May 2016 YTD – Condos/Co-ops
New inventory (the number of condos coming on the market) decreased 2.2% (45 YTD 2017 vs. 46 YTD 2016). There was a 31.3% increase in the number of sales (21 YTD 2017 vs. 16 YTD 2016). The average sales price of condos that have sold increased 27.7% to $496,087. The median sales price increased 98.1% to $535,000. Overall, the average sales price for condos that have sold in Rockland County (inclusive of the rivertowns) was $237,852, up 7.4% over the same period last year. The median sales price (inclusive of the rivertowns) was $192,000, up 1.1% over the same period last year.
What are the Hudson Valley Rivertowns in Rockland County?
The rivertowns are a collection of small towns and villages situated on the western banks of the Hudson River. The rivertowns are among the most special and sought after locations in the lower Hudson Valley and include Palisades, Sneden’s Landing, Piermont, Upper Grandview, Grand View, South Nyack, Nyack, Central Nyack and Upper Nyack. Located about 15 minutes north of Manhattan, the rivertowns are perfect for those looking to live in a beautiful, diverse and convenient location with easy access to Manhattan, Connecticut and Westchester.
For more information on what’s happening in the Rivertowns, your area or the Rockland County Real Estate market in general, give me a call on 845-641-8613 or visit my website www.DonnaCox.com and click “Contact Me.” I’d be delighted to speak with you.
Better Homes and Gardens Real Estate Rand Realty
46 S. Broadway Nyack, NY 10960