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Howard Hanna | Rand Realty proudly welcomes J.Philip Faranda and the agents of J. Philip Real Estate to new locations in Briarcliff Manor and Carmel
Nanuet, NY, Howard Hanna | Rand Realty, New York’s #1 real estate firm, is pleased to welcome J. Philip Faranda and the agents of J. Philip Real Estate to their new locations in Briarcliff Manor and Carmel, New York.
This significantly expands the footprint of Howard Hanna | Rand Realty with two new offices in New York state, located in Briarcliff Manor, Westchester County (522 North State Rd, Briarcliff Manor, NY 10510), and Carmel, Putnam County (529 Route 52, Carmel, NY 10512).
Philip Real Estate is widely recognized as a premier independent brokerage serving Westchester and Putnam County, outselling all Westchester and Putnam-based boutiques by unit every year since 2017. With a team of experienced and highly skilled professionals, J. Philip Real Estate has built a reputation for excellence in delivering top-notch results and client advocacy.
Matthew Rand, CEO of Howard Hanna | Rand Realty, expressed his enthusiasm stating, “We are thrilled to welcome J. Philip Real Estate and team to the Howard Hanna | Rand Realty family, as his expertise in technology and marketing within the real estate industry will undoubtedly enhance our position as the most innovative and creative brokerage in the industry.”
Philip Real Estate takes pride in its ability to stay ahead of the curve by providing cutting-edge solutions, which perfectly align with Howard Hanna | Rand Realty’s unwavering commitment to delivering exceptional service to its clients by leveraging the latest technology and dynamic solutions that help clients achieve their real estate goals in the most efficient and effective way possible.
Renee Zurlo, NY General Manager, shared her excitement about the collaboration: “This is a significant milestone for both Howard Hanna | Rand Realty and J. Philip Real Estate. We will amplify our collective strengths, expand our reach, and offer unparalleled resources to our clients. This will undoubtedly enhance our ability to provide the best real estate experiences throughout New York and Connecticut.”
Philip Faranda, Founder and Principal of J. Philip Real Estate, is equally excited, “I have known the Rands for almost 15 years and always had the greatest respect for Joe, Matt, and of course Marsha in our many collaborations in transactions, association, and MLS matters, and industry events. It was important for me to align myself with a family-owned brand that was committed to professionalism and forward thinking. I see this as a significant opportunity to help our agents be the best in the business and give the clients an experience that will be the standard by which all our competitors will seek to measure themselves. I look forward to growing our market share and turning heads, thanks to now having the backing of the biggest private company in America.”
Howard Hanna | Rand Realty has a long-standing reputation for excellence in the industry, delivering exceptional real estate services across the region. The addition of J. Philip and the agents of J. Philip Real Estate further solidifies Howard Hanna | Rand Realty’s position as a dominant force in the market, providing an expanded range of services and an even greater level of client satisfaction.
Howard Hanna | Rand Realty and J. Philip Real Estate clients can expect an expanded network of real estate professionals, cutting-edge technology tools, and a comprehensive suite of services tailored to their individual needs.
About Howard Hanna | Rand Realty: Howard Hanna | Rand Realty has more than 1,100 residential real estate sales associates serving New York, New Jersey, and Connecticut suburbs of New York City. Howard Hanna | Rand Realty serves Westchester County, Rockland County, Orange County, Sullivan County, Dutchess County, Ulster County, Putnam, and the Bronx in New York, Bergen County, Passaic County, Hudson County, Morris County, Essex County, and Union County in New Jersey, and Fairfield County in Connecticut. Rand also owns and operates Rand Commercial, a commercial real estate brokerage, and Hudson United Home Services, which provides residential mortgage lending, title services, and personal and commercial insurance. For more information, visit randrealty.com.
About Howard Hanna: The Hanna Family of Companies proudly provides real estate, title, insurance, and mortgage services to clients across 13 states. As the largest family-owned and -operated real estate brokerage in the United States, this full-service real estate company has more than 500 offices and 15,000 sales associates and staff, including many of the industry’s top-producing real estate, title, mortgage, and insurance agents. For more information, visit www.HowardHanna.com.
Howard Hanna | Rand Realty Donates $14,500 to Joseph M. Sanzari Children’s Hospital
Hackensack, New Jersey- Howard Hanna | Rand Realty is thrilled to announce their donation of $14,500 to the Joseph M. Sanzari Children’s Hospital. This significant contribution reflects the company’s ongoing commitment to social responsibility and its dedication to supporting the local community.
Throughout the year, the New Jersey team at Howard Hanna | Rand Realty organized various events with the goal of raising funds for The Children’s Free Care Fund. The company is immensely proud to have reached this remarkable milestone, which would not have been possible without the incredible kindness and support of the community, as well as the unwavering dedication of their managers and agents.
Expressing his gratitude, Matt Rand, CEO of Howard Hanna | Rand Realty, stated, “We consider it an honor to be able to contribute to our community through this donation. Our successful fundraising efforts truly represent our deep commitment and appreciation for the communities we proudly serve.”
These initiatives played a pivotal role in surpassing all previous fundraising records and making a significant impact on the community. Howard Hanna | Rand Realty also extends their heartfelt thanks to Hudson United Services, Mortgage, Title, and Insurance companies for their invaluable support in this effort.
The donations received by the Howard Hanna Children’s Free Care Fund provide critical assistance to local children’s hospitals and regional pediatric free care programs. These funds play a vital role in helping families access essential and life-saving medical care, treatments, and services. Moreover, the donations have enabled the company to raise funds for the Howard Hanna Children’s Free Care Fund, including a donation to the Maria Fareri’s Children Hospital in Westchester, made by the Howard Hanna Rand Realty New York Region team last week, the Joseph M. Sanzari Children’s Hospital, and several other hospitals nationwide.
About The Howard Hanna Children’s Free Care Fund: The Howard Hanna Children’s Free Care Fund accepts donations to support local children’s hospitals and regional pediatric free care programs. These contributions help families provide their children with the necessary and life-saving medical care, treatments, and services they require. To learn more about their initiatives and how to get involved, please visit howardhannachildrensfreecarefund.org.
About Howard Hanna | Rand Realty: Howard Hanna | Rand Realty is a leading residential real estate agency with over 1,100 sales associates serving the suburbs of New York City in New York, New Jersey, and Connecticut. Their areas of service include Westchester County, Rockland County, Orange County, Sullivan County, Dutchess County, Ulster County, Putnam, and the Bronx in New York, as well as Bergen County, Passaic County, Hudson County, Morris County, Essex County, and Union County in New Jersey, and Fairfield County in Connecticut. Additionally, the company owns and operates Rand Commercial, a commercial real estate brokerage, and Hudson United Home Services, which offers residential mortgage lending, title services, and personal and commercial insurance. For more information, please visit randrealty.com.
About Howard Hanna: The Hanna Family of Companies proudly provides real estate, title, insurance, and mortgage services to clients across 13 states. As the largest family-owned and -operated real estate brokerage in the United States, this full-service real estate company has more than 500 offices and 15,000 sales associates and staff, including many of the industry’s top-producing real estate, title, mortgage, and insurance agents. For more information, visit www.HowardHanna.com.
Howard Hanna | Rand Realty Donates $45,000 to Maria Fareri Children’s Hospital
Nanuet, New York – Howard Hanna | Rand Realty is proud to announce the donation of $45,000 to benefit Maria Fareri Children’s Hospital. This remarkable achievement was made possible through the exceptional generosity and support of the community and the tireless efforts of the managers and agents at Howard Hanna | Rand Realty.
Matt Rand, CEO at Howard Hanna | Rand Realty, expressed his gratitude by saying, “We are thrilled to have had the opportunity to give back to our community through this donation. The success of our fundraising efforts demonstrates the incredible generosity and compassion of our community and the dedication of our team members to making a difference in the lives of those around us.”
Throughout the year, Howard Hanna | Rand Realty organized various events, including karaoke parties, auctions, painting parties, and more, to raise funds for The Children’s Free Care Fund. These efforts were critical in helping the company break all previous fundraising records and contribute to the well-being of children in need.
In addition to the community’s support, Howard Hanna | Rand Realty would like to thank Hudson United Services, Mortgage, Title, and Insurance companies, for their contributions to this effort.
The Howard Hanna Children’s Free Care Fund receives donations that support local children’s hospitals and regional pediatric free care programs. The donations help families to provide their children with necessary and life-saving medical care, treatments, and services. All the donations helped us raise funds for the Howard Hanna Children’s Free Care Fund and Maria Fareri Children’s Hospital in our region, as well as various other hospitals across the nation.
About The Howard Hanna Children’s Free Care Fund: The Howard Hanna Children’s Free Care Fund receives donations that support local children’s hospitals and regional pediatric free care programs, helping families to provide their children with necessary and life-saving medical care, treatments, and services. All the donations helped us raise funds for the Howard Hanna Children’s Free Care Fund and Maria Fareri Children’s Hospital in our region, as well as various other hospitals across the nation. howardhannachildrensfreecarefund.org
About Howard Hanna | Rand Realty: Howard Hanna | Rand Realty has more than 1,100 residential real estate sales associates serving New York, New Jersey, and Connecticut suburbs of New York City. Howard Hanna | Rand Realty serves Westchester County, Rockland County, Orange County, Sullivan County, Dutchess County, Ulster County, Putnam, and the Bronx in New York, Bergen County, Passaic County, Hudson County, Morris County, Essex County, and Union County in New Jersey, and Fairfield County in Connecticut. Rand also owns and operates Rand Commercial, a commercial real estate brokerage, and Hudson United Home Services, which provides residential mortgage lending, title services, and personal and commercial insurance. For more information, visit randrealty.com.
About Howard Hanna: Howard Hanna Real Estate Services is the #1 family-owned and operated broker in the U.S.A. The full-service real estate company has more than 400 real estate, mortgage, insurance, title, and escrow service offices across 11 states, including Allen Tate Realtors® in the Carolinas and The F.C. Tucker Company in Indiana, with more than 13,000 sales associates and staff, including many of the industry’s top-producing real estate agents. For more information, visit HowardHanna.com.
The Rand Quarterly Market Report | First Quarter 2023: “Sales down sharply, but prices holding steady”
The Regional housing market in the New York City metro area slowed considerably in the first quarter of 2023, with sales falling sharply throughout the region even while prices often continued to climb to historic heights. Going forward, we expect both sales and prices to stabilize near last year’s levels for the spring market and for the rest of the year.
– Joe Rand, Chief Creative Officer at Howard Hanna | Rand Realty
Regional Market Overview
Sales continue to fall, dropping below pre-pandemic levels: Closed sales fell in every county within the report and were down dramatically for each region – falling 31% in Westchester and the Hudson Valley, 33% in Northern New Jersey, 24% in the Bronx, and 33% in Fairfield County. Similarly, pending sales that went into contract during the quarter, which provide a leading indicator of future closings, were also down, falling in each county and in each region.
We continue to see a severe lack of inventory throughout the region: We measure inventory by looking at the average number of homes that we sell each month and then calculating how many months it would take to sell out the current stock of homes for sale. According to industry standards, six months of inventory marks a “balanced market” – anything less, and we’re in a seller’s market.
Going forward, we believe that sales and prices will stabilize near 2022 levels for the rest of the year: We certainly think that we’re seeing the last of these dramatic year-on-year sales declines that we’ve had for the last four quarters. That’s not because we believe that the market is going to significantly strengthen, but only because we will be measuring off a much lower baseline, not off the strongest market in history. Accordingly, we believe that the market will hold to that 2013-2015 era level of sales, with low levels of inventories propping prices up near their current levels through the end of the year.
If you have any questions about the current state of the real estate market, please get in touch with your preferred Howard Hanna | Rand Realty Real Estate Agent
Download the full reports on the links below:
Q12023WestchesterAndHudsonValley
Howard Hanna Breaks Fundraising Records for The Children’s Free Care Fund in 2022
New York, NY – Howard Hanna | Rand Realty is proud to announce Hanna’s charity, The Children’s Free Care Fund, raised a record-breaking $1,184,033 in 2022. The fundraising campaign was a massive success thanks to the support and generosity of the community and the hard work of all the Howard Hanna Real Estate Services companies.
The Children’s Free Care Fund is a charity that provides free medical care to children in need. The fund helps children receive the care they need, regardless of their family’s ability to pay.
Howard Hanna | Rand Realty assisted in the effort by organizing various events throughout the year, including karaoke parties, auctions, painting parties, and more. These efforts were critical in helping the company break all previous fundraising records for The Children’s Free Care Fund.
“We are incredibly grateful for the dedication and hard work of everyone who helped us raise funds for The Children’s Free Care Fund this year. This achievement showcases our company culture and our dedication to helping in the communities we serve,” said Matt Rand, CEO at Howard Hanna | Rand Realty
In addition to the community’s support, Howard Hanna | Rand Realty would like to thank Hudson United Services, Mortgage, Title, and Insurance companies, who contributed to this effort.
The Howard Hanna Children’s Free Care Fund receives donations that support local children’s hospitals and regional pediatric free care programs, helping families to provide their children with necessary and life-saving medical care, treatments, and services. All the donations helped us raise funds for the Howard Hanna Children’s Free Care Fund and Maria Fareri Children’s Hospital in our region, as well as various other hospitals across the nation.
Howard Hanna is the #1 Real Estate Company in America, and we are equally proud of their philanthropic efforts. The company is committed to making a positive impact in the lives of those in need and looks forward to continuing its support for The Children’s Free Care Fund in the years to come. Hoddy Hanna, Chairman at Hanna Holdings Inc.
About Howard Hanna | Rand Realty: Howard Hanna | Rand Realty has more than 1,100 residential real estate sales associates serving New York, New Jersey, and Connecticut suburbs of New York City. Howard Hanna | Rand Realty serves Westchester County, Rockland County, Orange County, Sullivan County, Dutchess County, Ulster County, Putnam, and the Bronx in New York, Bergen County, Passaic County, Hudson County, Morris County, Essex County, and Union County in New Jersey, and Fairfield County in Connecticut. Rand also owns and operates Rand Commercial, a commercial real estate brokerage, and Hudson United Home Services, which provides residential mortgage lending, title services, and personal and commercial insurance. For more information, visit randrealty.com.
About Howard Hanna: Howard Hanna, Real Estate Services, is the #1 family-owned and operated broker in the U.S.A. The full-service real estate company has more than 400 real estate, mortgage, insurance, title, and escrow service offices across 11 states, including Allen Tate Realtors® in the Carolinas and The F.C. Tucker Company in Indiana, with more than 13,000 sales associates and staff, including many of the industry’s top-producing real estate agents. For more information, visit HowardHanna.com.
Howard Hanna | Rand Realty Strengthens its Real Estate Team with the Addition of the Highly Accomplished Vladimirsky Team
Nanuet, NY: Howard Hanna | Rand Realty proudly announces the addition of The Vladimirsky Team to their White Plains office. The team’s arrival marks another milestone in the company’s growth and reaffirms its commitment to providing exceptional service to clients in the New York and Connecticut regions.
Matt Rand, CEO of Howard Hanna | Rand Realty, expressed his excitement over the new partnership, stating, “We are thrilled to bring such a strong team aboard. They have a proven track record of success, and I look forward to seeing how they continue to grow.”
Team leader Roman Vladimirsky, a licensed agent in both New York and Connecticut, brings to the table his extensive background in marketing for top television brands like ESPN and CBS. This experience has given him branding, marketing, and sales skills that have set his team apart.
“With real estate, you can build a legacy that will last for generations,” said Vladimirsky. “I’m excited to continue building my legacy with the Howard Hanna | Rand Realty team.”
In addition to Roman, the team is rounded out with Ryan Weir, Karen Gundelach, Emily Veltri, and Cindy Archaga. These skilled professionals have helped the group establish as a regional leader.
Ryan Weir, a native of Scarsdale, NY, currently resides in Yonkers and leverages his expertise in the NY Market to provide clients with informed choices during the home-buying process. With his exceptional problem-solving skills, he is an ideal agent for those seeking a seamless and efficient home-buying experience.
Karen Gundelach, a licensed agent in New York and Connecticut, epitomizes loyalty, passion, and positive service in every detail of her real estate transactions. She is proactive in her approach, and her clients credit her for her personable demeanor and ability to build meaningful relationships and guide them through their most significant investment. A resident of Westchester County for over 30 years, Karen proudly services the Westchester, Putnam, and Dutchess county areas.
Emily Veltri, the Operations Administrator, was born and raised in New York City and currently resides in the Bronx. She has a Bachelor’s degree and a background in retail management and recruitment, which gives her the necessary skills to run behind-the-scenes operations in real estate transactions effectively.
Cindy Archaga is a licensed real estate salesperson in NY & CT. With her background in telecommunication sales, Cindy brings a wealth of knowledge and experience to the table. She prides herself on delivering an exceptional customer experience with clear and timely communication, honesty, and transparency. In addition, Cindy’s enthusiasm for helping clients find their dream homes and her knowledge of the local area make her a valuable asset to our team.
White Plains office manager Joe Maymi also feels the team will provide immediate results. “The Vladimirsky Team is a group of highly accomplished real estate professionals who bring a wealth of experience and a proven track record of success. Their dedication to exceptional customer service and expert knowledge of the local market will make an immediate impact and help us serve our clients in the White Plains area,” said Maymi.
About Howard Hanna | Rand Realty: Howard Hanna | Rand Realty has more than 1,100 residential real estate sales associates serving New York, New Jersey, and Connecticut suburbs of New York City. Howard Hanna | Rand Realty serves Westchester County, Rockland County, Orange County, Sullivan County, Dutchess County, Ulster County, Putnam, and the Bronx in New York, Bergen County, Passaic County, Hudson County, Morris County, Essex County, and Union County in New Jersey, and Fairfield County in Connecticut. Rand also owns and operates Rand Commercial, a commercial real estate brokerage, and Hudson United Home Services, which provides residential mortgage lending, title services, and personal and commercial insurance. For more information, visit randrealty.com.
About Howard Hanna: Howard Hanna Real Estate Services is the #1 family-owned and operated broker in the U.S.A. The full-service real estate company has more than 400 real estate, mortgage, insurance, title, and escrow service offices across 11 states, including Allen Tate Realtors® in the Carolinas and The F.C. Tucker Company in Indiana, with more than 13,000 sales associates and staff, including many of the industry’s top-producing real estate agents. For more information, visit HowardHanna.com
Howard Hanna | Rand Realty Honors Top Producers at 2023 Awards Ceremony
Nanuet, NY- Howard Hanna | Rand Realty is celebrated their Annual Agent Awards on Thursday, February 16th. The event was broadcast to 13 Howard Hanna | Rand Realty “watch Parties”. With over 500 agents and employees in attendance throughout the company’s service area the company recognized the outstanding achievements of the company’s top producers. Award winners were honored by the company and their peers, receiving their awards from their managers. The event was hosted by Howard Hanna Rand Realty’s CEO Matt Rand, Chief Creative Officer Joseph Rand, President of Hudson United Services Daniel Rand, and founder Marsha Rand who individually congratulated each one of the award winners in a streamed ceremony.
The format of the event allowed the company to honor and recognize the hard work and dedication of its top producers while also promoting community and team spirit.
Marsha Rand passionately addressed the attendees by saying “I am truly delighted to recognize and congratulate all of the 2023 award winners. Your outstanding achievements in sales and top performance have been integral to the continued success and growth of our company. Your hard work and dedication embody the values of professionalism, teamwork, and dedication to client satisfaction that we hold dear at Howard Hanna | Rand Realty. I want to express my deep gratitude for each of your contributions to our family business”
In addition to the recognition of the top agents, surprise guest Helen Hanna Casey, CEO of Howard Hanna Real Estate Services, told the attendees, “I am thrilled to be here with you all tonight to celebrate the amazing achievements of our top producers at Howard Hanna | Rand Realty. Your dedication is truly inspiring, and I am so proud and honored by your professionalism and hard work in the past years’ changing market. Congratulations to all the award winners, and thank you for representing the values that make Howard Hanna a leader in the country.”
During the event, The Rand Family honored over 325 of their agents. Also recognized were several agents and teams with a long track record of success. Trudi Iglesias, Chris Staritz, Laurel Lustgarten, Demelo-Muller Team, and The Kirkwood Group, were presented with the Legend award for 2022. Being a “Legend” award winner is the highest honor given by Howard Hanna | Rand Realty and recognizes five straight years of unparalleled achievements.
Other members of the Howard Hanna | Rand Realty leadership team that participated in the streamed event included Renee Zurlo, Regional Manager of New York, Justin Wrobel, Regional Manager of New Jersey, Paul Adler, CEO of Rand Commercial and Yvonne Regan, the Director of Relocation Services.
Matt Rand, CEO wrapped up the event by saying “I want to express my sincere thanks and congratulations to all our award winners. Your achievements are a testament to the company culture at Howard Hanna | Rand Realty, which is the driving force behind our success. Our team has once again demonstrated that they are the best in the business. Your dedication and commitment to excellence are what make us a leader in the industry. I encourage you to continue your hard work and success in the years ahead. We are incredibly proud to recognize the achievements of our employees and continue our commitment to building a culture of success and excellence.”
About Howard Hanna | Rand Realty Howard Hanna Rand Realty has more than 1,100 residential real estate sales associates serving New York, New Jersey, and Connecticut suburbs of New York City. Howard Hanna | Rand Realty serves Westchester County, Rockland County, Orange County, Sullivan County, Dutchess County, Ulster County, Putnam, and the Bronx in New York, Bergen County, Passaic County, Hudson County, Morris County, Essex County, and Union County in New Jersey, and Fairfield County in Connecticut. Rand also owns and operates Rand Commercial, a commercial real estate brokerage, and Hudson United Home Services, which provides residential mortgage lending, title services, and personal and commercial insurance. For more information, visit randrealty.com.
About Howard Hanna: Howard Hanna Real Estate Services is the #1 family-owned and -operated broker in the U.S.A. The full-service real estate company has more than 400 real estate, mortgage, insurance, title, and escrow service offices across 11 states, including Allen Tate Realtors® in the Carolinas and The F.C. Tucker Company in Indiana, with more than 13,000 sales associates and staff, including many of the industry’s top-producing real estate agents. For more information, visit www.HowardHanna.com.
Matt Rand, CEO of Howard Hanna Rand Realty, Recognized as Futurist of 2023 by RIS Media Newsmakers
Nanuet, New York- Howard Hanna | Rand Realty is pleased to announce that Matt Rand, CEO of Howard Hanna Rand Realty, has been recognized by RISMedia 2023 Real Estate Newsmaker—a dynamic group of key influencers making headlines as a result of their newsworthy contributions to the real estate industry and their efforts to positively affect the consumers and communities they serve.
Rand has been named as one of the 2023 Futurists by RIS Media. This prestigious award recognizes the real estate industry leaders who demonstrate exceptional vision, leadership, and innovation in their businesses and communities.
“I am honored to receive this recognition from RIS Media,” said Rand. “At Howard Hanna | Rand Realty, we always look for new and innovative ways to serve our clients and stay ahead of the curve in this ever-evolving industry.”
Under Rand’s leadership, Howard Hanna | Rand Realty has consistently been at the forefront of technological advancements and innovative strategies in real estate. From implementing cutting-edge marketing techniques to offering unparalleled service to clients, Rand has been instrumental in driving the company’s growth and success.
RIS Media’s 2023 Futurist Award recognizes real estate professionals who have significantly impacted their industry and communities through their foresight, determination, and innovative spirit. Matt Rand’s award-winning leadership and commitment to excellence are a testament to his passion for real estate and his unwavering dedication to delivering the best possible experience to his clients.
RISMedia, the leader in U.S. real estate news and information services, announced its more than 300 2023 Real Estate Newsmakers on Feb. 1, in both an online directory on RISMedia.com and in the February issue of its flagship publication, Real Estate magazine.
“It’s always so inspiring to see the incredible accomplishments of many real estate professionals around the country. This year’s group of 2023 Newsmakers takes that concept to a new level. From the creativity and innovation being implemented through our changing times, to industry records being broken, to the wonderful charitable work being done across the nation, we continue to be amazed by the ingenuity and success of these real estate professionals, over 300 of whom we are honoring on our sixth year of publishing Real Estate Newsmakers,” said John Featherston, Founder, CEO and publisher of RISMedia.
“We are so proud every year to recognize the hard work, dedication, and determination of these finest industry professionals—the 2023 Real Estate Newsmakers—who went above and beyond in 2022 amid the challenges and opportunities of this historic market. Help us in celebrating their hard-earned recognition,” Featherston added.
RISMedia will honor this year’s Real Estate Newsmakers, including the 2023 Hall of Fame, at RISMedia’s Newsmakers Reception & Dinner, being held Sept. 6 at the Mayflower Hotel in Washington, D.C., in conjunction with our 2023 CEO & Leadership Exchange.
About RISMedia
For more than 40 years, RISMedia has provided the residential real estate industry with news, trends, and business development strategies through its flagship publication, Real Estate magazine; its leading website, RISMedia.com; its premium content channel, Premier; its award-winning Housecall blog; and its iconic networking and educational events, including RISMedia’s virtual Real Estate’s Rocking in the New Year; RISMedia’s CEO Exchange; RISMedia’s Power Broker Forum, Reception & Dinner; and RISMedia’s Newsmakers Reception & Dinner. Through RISMedia’s content programs—including ACE, a turn-key social media content system—real estate professionals share thousands of articles, infographics, and videos each day created by RISMedia editors and contributors, helping them influence hundreds of thousands of consumers as they consider buying and selling a home. Visit RISMedia.com , RISMedia’s Premier, and ACESocial for more information.
About Howard Hanna | Rand Realty Howard Hanna Rand Realty has more than 1,100 residential real estate sales associates serving New York, New Jersey, and Connecticut suburbs of New York City. Howard Hanna | Rand Realty serves Westchester County, Rockland County, Orange County, Sullivan County, Dutchess County, Ulster County, Putnam, and the Bronx in New York, Bergen County, Passaic County, Hudson County, Morris County, Essex County, and Union County in New Jersey, and Fairfield County in Connecticut. Rand also owns and operates Rand Commercial, a commercial real estate brokerage, and Hudson United Home Services, which provides residential mortgage lending, title services, and personal and commercial insurance. For more information, visit randrealty.com.
The Rand Quarterly Market Report | Fourth Quarter 2022: “Sales are down, but prices are at all-time highs”
After a torrid two-year spike in sales and prices in 2020 and 2021, the housing market in the New York metropolitan
region downshifted in the fourth quarter of 2022. Sales fell dramatically from last year’s all-time highs, hampered by
a sharp rise in interest rates, “sticker shock” at home prices, and a lack of sellable inventory. But even with the market
slowing down, prices continued to appreciate, reaching new all-time highs throughout the region.
– Joe Rand, Chief Creative Officer at Howard Hanna | Rand Realty
The Market Overview:
Sales fell dramatically from their all-time highs of 2021 but remained consistent with their pre-COVID-Boom levels. Sales fell sharply over the past year, dropping about 26% in Westchester and the Hudson Valley, 31% in Northern New Jersey, 22% in Bronx County, and 31% in Fairfield. But the story is more mixed if you look at the transaction levels in our 2019 “control year,” before the market stalled during the COVID lockdowns and then surged in mid-2020 once those lockdowns were lifted. If you look at the 2019 sales, you can see that closings are basically similar to what we saw before the COVID Boom.
Even with sales slipping, prices continued to hit all-time highs through the end of 2022. The 2022 appreciation capped a three-year surge in prices that really started pre-COVID, but accelerated dramatically following the lifting of the COVID lockdown restrictions. If you look at the prices from that 2019 pre-COVID control year, prices are up sharply throughout the region: rising 40% in Westchester and the Hudson Valley, 27% in the Bronx, 59% in Fairfield, and 34% in Northern New Jersey.
Inventory came up a bit in the fourth quarter but still remains near historic lows. Inventory has fallen dramatically over the last three years to the point that we only have about 2.0 months of homes for sale in most of our markets. That’s incredibly low by historical standards. And that’s why we are relatively bullish on prices. It’s just basic economics. Even if buyer demand falls, this restricted supply should prop prices up and continue to drive appreciation throughout 2023.
As you can see, we are relatively bullish on the future of the market. Basically, we think that the market is returning to a pre-COVID state and are projecting that 2023 sales will track near 2018-19 levels.
We know that many of our clients, and even our colleagues, are anxious about the near future of the housing market. Much of that anxiety stems from the highly-charged media coverage we’ve seen over the past six months, which has amplified vivid narratives about (1) rising interest rates, (2) a dramatic sales decline, and even (3) industry layoffs by large public real estate and mortgage companies. But we believe that this bearish case is overstated and that these narratives are misleading. We all know that the media (particularly social media) loves a scary story, and narratives involving the “collapse of the housing market!” make for good engagement and eyeballs. That’s one of the reasons we’ve been putting out this Quarterly Market Report four times a year for over 20 years because we think it’s important for our clients, colleagues, and community to get an objective, facts-based analysis of the housing market.
If you have any questions about the current state of the real estate market, please get in touch with your preferred Howard Hanna | Rand Realty Real Estate Agent
Download the full reports on the links below:
Q42022WestchesterAndHudsonValley
Paul Adler, CSO at Rand Commercial honored with The Stephanie Crispinelli Humanitarian Award
Nanuet, New York – Paul Adler, Chief Strategic Officer of Rand Commercial in New City, was honored with The Stephanie Crispinelli Humanitarian Award by the Hudson Gateway Association of REALTORS Member Day last October.
The award is named for Stephanie Crispinelli, a brave young woman who was a victim of the 2010 earthquake in Haiti, where she had been volunteering to help families in need. Adler has played a vital role in supporting numerous non-profit organizations. He and his wife established the Paul and Mary Adler Charitable Fund for Good.
Matt Rand, Managing Partner of the Hanna Rand Family of Companies, commented: “The real estate industry’s support of philanthropic causes is fundamental to the growth of our communities. It’s wonderful to honor Paul’s numerous charitable contributions to our region. We’re proud to have him as part of our leadership team.”
A native of Rockland County, Paul earned his BA degree from Pace University, a Masters Public Administration from Long Island University with Honors, and a Juris Doctorate from Pace University School of Law. In addition to his work in real estate, he advocates for arts and culture, civil rights and social action, economic empowerment, environment, human rights, and politics.
“I am honored to receive this recognition from The Hudson Gateway Association of Realtors,” said Adler. “As a lifelong resident of Rockland County and as part of one of the leading family companies in the industry, I am committed to continuing our mission to support local organizations and initiatives that share the vision of building better communities.”
Paul Adler Esq. is an Attorney, veteran commercial real estate broker, and creative development professional who has an outstanding reputation as an industry leader throughout the New York State, New Jersey, Connecticut, and New York City area for over three decades. As the Chief Strategy Officer of Rand Commercial, Paul utilizes his incomparable knowledge and expertise as the ultimate “go-to” resource for clients, community leaders, and colleagues.
Paul currently serves on the Montefiore-Nyack Hospital Board of Directors: Board of Directors of Rockland Community Foundation, Legal Services of the Hudson Valley, Justice Brandeis Law Society Executive Committee, Holocaust Museum for Tolerance and Education Advisory Board, Hudson Gateway Association of Realtors – Legislative Steering Committee, Nyack Branch of the NAACP Executive Board, Rockland PRIDE founding Board Member and Westchester County Association’s Blueprint for Smart Growth Committee and The Real Estate Taskforce. In 2019, Paul was inducted into the Rockland County Civil Rights Hall of Fame.
Paul is married to Mary, and they have five children and live in Nyack, NY.
About Rand Commercial: Rand Commercial is a full-service real estate financial institution with expertise in commercial real estate, multi-family residential housing, development marketing, land sales and development, condo conversion, and corporate relocation. Rand Commercial serves Westchester, Rockland, Orange, Sullivan, Bronx Counties, NYC, Northern NJ, and Connecticut.
About Howard Hanna | Rand Realty: Howard Hanna Rand Realty has more than 1,100 residential real estate sales associates serving New York, New Jersey, and Connecticut suburbs of New York City. Its 34 offices serve Westchester County, Rockland County, Orange County, Sullivan County, Dutchess County, Ulster County, Putnam and the Bronx in New York, Bergen County, Passaic County, Hudson County, Morris County, Essex County, and Union County in New Jersey, and Fairfield County in Connecticut. Rand also owns and operates Rand Commercial, a commercial real estate brokerage, and Hudson United Home Services, which provides residential mortgage lending, title services, and personal and commercial insurance. For more information, visit randrealty.com.
