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Community Corner

Rockland: 7.9% of Homes Listed Above $1 Million

Real estate listings and recent sales in Nyack, Piermont and surrounding communities

The local real estate market was busy this week with a steady influx of new inventory. The area had 11 new properties hit the market, including our featured home: a mid-century modern contemporary in Piermont for $1,100,000.  

On the sales front, the region had 7 properties go under contract and 6 properties title transfer—it was definitely a week of "out with the old and in with the new." Of the 13 properties this week that either sold or are pending, the average days on the market was 417. That's because four of these homes had been sitting "on and off" the market for two to five years—so it's good to see these properties finally find new owners.

This week I decided to take a look at listing prices in the county; here is what I found:

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There are currently 1,305 active single family homes on the market in Rockland County, and 104 of them are listed over $1,000,000. That's about 7.9 percent of the current inventory. However, when I looked at how many homes sold over $1 million this year, I learned the percentage is much smaller. There have been only 16 homes that sold for over $1 million out of a total of 930 sales—or, only around 1.7%.  

What does this tell us? I’m not exactly sure, but it's obvious that the demand for the higher end is not keeping up with the supply.

Find out what's happening in Nyack-Piermontwith free, real-time updates from Patch.

Here is a breakdown of the current asking prices of the 1,305 active listings in Rockland County:

List Price        /       # of listings

Above $5,000,000       =     3

$4 million - $5 million  =  1

$3 million - $4 million   = 4

$2 million - $3 million  = 16

$1 million - $2 million   = 80

$900,000 - $1 million   = 22

$800,000- $900,000    = 41

$700,000 - $800,000   = 55

$600,000 - $700,000   =  101

$500,000 - $600,000   = 166

$400,000 - $500,000   = 249

$300,000 - $400,000   = 316

$200,000 - $300,000   = 181

Less than $200,000     =   70

With that, please click on the photos above for this week's local property listings.

*(Please note that these are numbers for single family homes in all of Rockland County pulled from The Greater Hudson Valley Multiple Listing System, and do not include private title transfers or sales outside our MLS.  This is meant to just be a simple exercise, not an exhaustive study of the market.)

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Please feel free to leave comments and questions. For more photos and information, please visit my website.

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Correction: this story originally stated 18 homes sold for over $1 million. The error has been remedied.

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