Real Estate Market Report: 2nd Quarter 2018 – Orange County

Pricing in Orange’s housing market exploded again in the second quarter, driven by high demand and low supply. Unlike the other Hudson Valley counties, sales were actually up, with house sales rising 3% for the quarter and 6% for the year. Condo sales were down for the quarter, but were still up almost 10% for the year. The real story, though, was pricing. After years of slow leaks, Orange prices are roaring back, with quarterly house prices up almost 11% on average, 7% at the median, and almost 10% in the price‑per‑square foot. And condo pricing was up over 7% on average, 2% at the median, and almost 11% in the price‑per‑square foot. Going forward, we see these trends continuing through the end of the year, with low supply and high demand driving meaningful price appreciation through a robust summer and fall.

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Posted on July 24, 2018 at 9:28 am
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , , ,

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