Fourth-Quarter 2018: Real Estate Market Report – Orange County, NY

The Orange housing market closed the best year for homeowners since the financial crisis 10 years ago, with the full‑year pricing up sharply for both single‑family homes and condos. Orange is now in a fully realized seller’s market, with low levels of inventory holding back sales, even while driving robust price appreciation. For the full 2018 year, prices were up across the board: single‑family home prices rose 9% on average, 7% at the median, and almost 10% in the price‑per‑square foot, while condo prices rose 12% on average, 8% at the median, and over 12% in the price‑per‑square‑foot. Pricing is now the highest it’s been since the financial crisis of 2008‑09, although it’s still down about 20% from the height of the market in 2006-07. Going forward, we expect that Orange still has some room for growth, and that demand will stay strong through the winter and spring markets.

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Posted on January 22, 2019 at 9:31 am
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , , ,

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