Linda DeFilippo | Rockland County Real Estate 2023
Rockland County's April 2023 Real Estate Market
The median sales price for single family homes in Rockland County has increased to $665,000! That is a $35K gain from last month.
What is clearly driving these gains is the lack of inventory throughout the County. This April we only had 191 single family homes come on the market. April 2022 we had 285 homes listed, and going back to April 2021 we had 319 homes come on the market. This decline in inventory is creating a buyer demand I have never seen before in the 21 years I have been selling Real Estate. This buyer demand is actually creating record breaking sales prices in some neighborhoods.
It is an amazing time to be a seller! I have listed 12 homes this year so far, and each of my sellers have had bidding wars and received over asking offers on their homes. The buyers are driving up the price as they continue to bid against each other.
Despite the volatility with mortgage rates, buyers have gotten through the sticker shock of the rate increases from last year and are still determined to buy real estate!
Another factor feeding this buyer demand is the increase in rental prices. They too have gone through the roof. The average Rockland County single family home with 1900 sq feet rents for $4,000 a month.
If you want to talk more about the Real Estate Market in Rockland County, please feel free to reach out to me. I would love an opportunity to Talk Real Estate With You.
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