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Median Sales Price For Single-Family Home In Rockland Rises Nearly 10 Percent In July 2021, Compared To Last Year
REAL ESTATE
Chug-a-chug: the real estate market just keeps powering along at an astonishing pace.
A combination of pandemic escapees, low interest rates, and a competitive market made July 2021 a robust month for realtors, as well as homebuyers and sellers.
The median sales price for a single-family home in Rockland County during July was $565,000 — an increase of 9.7 percent compared with July 2020, according to data from Realtor.com.
The number of houses sold rose by 57.7 percent from a year earlier. A total of 287 houses were sold county-wide during the month of July. During the same period a year earlier, 182 single-family homes were sold.
Condominium and townhomes sold in July had a median sales price of $325,000. That figure represents a 20.4 percent increase year-over-year. In Rockland County, 112 were sold, up 138.3 percent from a year earlier.
The top 10 percent of the properties sold had prices of at least $875,000, up 16.7 percent from a year before.
In July, 17 properties sold for $1 million or more: 16 single-family homes and one other property.
The median home sale price — the midway point of all the houses or units sold over a period of time — is used in the report instead of the average home sale price because experts say the median offers a more accurate view of what’s happening in a market. In finding the average price, all prices of homes sold are added and then divided by the number of homes sold. This measure can be skewed by one low or high price.
Westchester County Home Market Also Steaming Along
The median sales price for a single-family home in Westchester County during July was $870,000 — an increase of 15.2% compared with July 2020, according to data from Realtor.com.
The number of houses sold rose by 62.9 percent from a year earlier. A total of 956 houses were sold countywide during the month of July. During the same period a year earlier, 587 single-family homes were sold.
Condominium and townhomes sold in July had a median sales price of $465,000. That figure represents a 13.4 percent increase year-over-year. In Westchester County, 184 were sold, up 82.2% from a year earlier.
The top 10 percent of properties sold had prices of at least $2,000,000, up 18.7 percent from a year before.
In July, 377 properties sold for $1 million or more: 357 single-family homes, 10 condominiums or townhomes and 10 other properties.