The housing market in New York State and the Greater Hudson Valley continues to grapple with a significant shortage of available properties, creating a favorable environment for prospective sellers.
Recent data underscores the severity of the supply-demand imbalance. The NY State Association of Realtors (NYSAR) reported in December 2024 that housing inventory for NY state hit the lowest level on record in the last 15 years. This persistent shortage has led to increased competition among buyers, often resulting in multiple offers and homes selling above asking prices.
According to the Hudson Gateway Association of Realtors, inventory levels have declined across all property types in the region. In March 2024, single-family home inventory in Orange County dropped by nearly 40%, and Westchester County saw a 31.3% decrease. This scarcity has contributed to significant price increases. Putnam County experienced a 19% hike in single-family home prices, while Orange County saw a 13% rise during the same period. In 2025, this shortage persists.
Why Now Is an Ideal Time to Sell
For homeowners considering selling, the current market conditions offer several advantages:
• High Demand: Limited inventory means buyers are eager and often willing to pay premium prices.
• Favorable Pricing: The upward trend in home prices ensures that sellers can maximize their return on investment.
• Quick Sales: Properties are spending less time on the market, reducing the stress and uncertainty often associated with selling.
Lawrence Zacks is a NY Associate Broker with RE/MAX Classic Realty. Contact him at RealEstate@LawrenceZacks.com or 914-282-6440.
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