The Hudson Gateway Association of Realtors (HGAR), which is based in White Plains, reports that the region’s real estate market remained resilient with continued price strength in July. It points to data from the OneKey® MLS as showing a complex market in the Hudson Valley.
“Westchester continues to drive regional price trends, but we’re seeing interesting activity across our entire footprint,” said Lynda Fernandez, HGAR CEO. “In July, inventory saw small gains in some counties, but the market is still tight overall. While sales are slightly down in some places, prices are holding, indicating strong underlying demand. Buyers are adapting, expanding their options, and looking for value, while sellers are adjusting expectations and timelines.”
HGAR noted that many buyers remain cautious with 30-year mortgage rates averaging around 7% in July. It said that homes under $500,000 still are moving quickly, while higher-end properties are lingering on the market longer and often require strategic pricing and staging.
In Westchester County, the median single-family home price hit $1,500,000, up from the $1,038,059 price in July of 2024. The number of homes for sale dropped by 7.6% to 893 from the 966 that were on the market in July of 2024. The average number of days that properties sat on the market dropped to 18, down 5%. The median price for condos rose 1% to $530,000 while co-ops were up 5.1% to $225,000. Condos saw a decline in closed sales by 11% while co-op closed sales were up 2%.
In Putnam County, the median price for single-family homes increased to $600,000, up 9.1%. The number of homes on the market was up by 3.4% at 215 compared with 208 on the market in July of 2024. There were 22 condo sales, the same as in July a year ago. The median sale price was $387,500, up 9.2% from $355,000 a year ago. No co-op sales were reported.
In Rockland County, the single-family median price sales price rose 17% over what it was a year ago to $765,000. Condo sales were up by 2%, but co-op sales dropped by 40%.
Orange County saw a single-family home median sale price of $460,000 in July, up 2.2% from a year ago.
In Sullivan, County, the median price for a single-family home jumped 22% to $363,000, but the inventory rose by 17.3% with 583 homes on the market versus 497 in July of 2024.
“We’re seeing a transition, not a downturn,” Fernandez said. “Buyers who are prepared and realistic can find opportunities, and sellers should expect more measured activity.”
