Have we finally found the bottom of the Ulster County Real Estate Market?

Posted by Murphy Realty Group on Tuesday, April 28th, 2009 at 6:05pm.

The New York Association of REALTORS reported that home sales have made a significant increase from February to March both locally and statewide.  The increase for New York State is as high as 14 percent and projections look even better.  Adding heavily to the state average is Ulster County with a whopping 67% increase from the previous month.

Counties showing an INCREASE from February to March:

  • Columbia County: 12%
  • Orange County: 27%
  • Rockland County: 5%
  • Westchester County: 19%

Counties showing a DECREASE from February to March:

  • Greene County: 12%
  • Putnam County: 16%
  • Sullivan County: 23%
Dutchess County remained unchanged.

Home prices continue to fall in Columbia, Dutchess, Orange and Putnam while slightly increasing in Rockland, Westchester, Greene and Ulster.  The most significant jump in sale price was reported by Sullivan County showing 51% increase.  Ulster’s sale price increase was 6%.

What do these numbers mean for Ulster County?

With Ulster County’s increase in sales being 67% and the increase in sale price only being 6%, the inventory will begin to decline, decreasing supply and increasing demand which will slowly push home prices up.  Better projections can be made about just how fast this turn in the market will move when the April and May sales for these areas are reported.
 

9 Responses to "Have we finally found the bottom of the Ulster County Real Estate Market?"

phillyrealestate wrote: I’ve been waiting for a market like this. Philadelphia real estate is undervalued for the 1st time since 2003. If you have the ability to buy and hold this is a great market. Now if they would make investor loans a little easier to obtain life would be perfect.

Posted on Thursday, May 7th, 2009 at 12:23pm.

<a href="http://san-diego-property-management-blog.com">San Diego Property Management</a> wrote: Hello,

I have a friend who's father is a real estate broker in Philly. She told me that he too thinks we're hitting a bottom. But I think it's not just in Philly. If you go onto zilllow.com and look at the 10 year price graphs for many regions, you'll see that we've returned to the long-run home price appreciation trend line. Now, we may overshoot a little but we'll snap back quickly. Everything reverts to the mean...

What does everyone think?

For context, I write a blog on: San Diego Property Management .

Cheers!

Posted on Monday, June 1st, 2009 at 11:01pm.

South Riding Homes wrote: You statistics show a marked rise in activity. That is very positive news!

Posted on Saturday, July 4th, 2009 at 6:52pm.

Short term rental new york wrote: well even i have some contacts in philly..i have been there quite sometime....

Posted on Wednesday, July 22nd, 2009 at 2:38am.

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Posted on Friday, July 31st, 2009 at 6:59am.

Roommate Search wrote: It seems like lately home sales have been picking up. I know several people that have been waiting to buy and are finally taking the plunge. We are definitely seeing some pent up demand. Whether that demand can be sustained after all the folks that were waiting on the sidelines have come through remains to be seen though.

Posted on Saturday, August 1st, 2009 at 11:22pm.

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Posted on Thursday, September 24th, 2009 at 5:43am.

saint george homes wrote: i really hope we are at the bottom of the market. we have some many good deals and i am starting to see some real movement back in my market. hopefully you are seeing the same things in your market.

Posted on Saturday, October 3rd, 2009 at 11:14pm.

calgary mls listings wrote: I really hope the better investor loans, that would help. Nice informative blog and have great tips to follow Thanks for submitting

Posted on Thursday, November 26th, 2009 at 4:44pm.

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