Check out the May 2014 New York Magazine article "Get in on Sullivan County"
Sullivan County Real Estate
Beautiful, affordable, friendly and just 2 hours from New York City are the reasons so many New Yorkers choose Sullivan County for their second home getaway. We pretty much have everything you're looking for lakes, mountains, rivers, farms and that friendly, down home country welcome.
If you're not familiar with the area, or are just starting your search for Catskill real estate, I've put together a lot of information to give you a good introduction. Check out the links on the left you'll get a good feel for home prices, up-to-date market trends, areas of the county, and the most comprehensive source listings for Sullivan County real estate for sale. Be sure to read my Current Market Conditions for Sullivan County Real Estate (updated monthly) and What Houses Cost Here.
If you're looking for Sullivan County New York real estate, please drop me an email or give me a call and discover Sullivan County, the best value in Catskills real estate.
Market pickup slowing? First year-over-year sales drop in 12 months
(June 2014) For the past twelve months, we've seen double digit year over year increases in the number of single family homes sold in Sullivan County. That heady streak was broken in May, with the year over year sales volume for the three month period ending May 31 dipping 4.6%. This slowing doesn't seem to be unique to Sullivan County, but is being reported nationwide. The latest "Existing Home Sales" data from the National Association of Realtors shows the year over year sales volume for May down 5% nationally and off 3.1% in the northeast region.
On the price front, the median sales price was up 2.5% over the previous year, but slipped 5.8% from the previous month, so that can be tallied up as a wash. If anything, it points to prices not galloping up, which will likely be a disappointment to many sellers hoping for a bull market.
The average sales price fell 12.7% year over year. As I've cautioned here many times, the average sales price is a less reliable indicator of market trends, as it can be greatly influenced by a handful of particularly high or low priced sales. That was definitely the case for the 3 month period ending May 13, with 3 sales at the pricey Chapin Estate (from $600K to $1.6M). For this latest 3 month period, there were no closed sales above $500,000.
Listing brokers report being very busy with new listings, and inventory is inching (but not leaping up.) There have been reports of bidding wars, but largely confined to the hot under-$200K segment of the market.
|Current Listings**||Closed Sales Mar - May 2014|
|All Single Family Homes||$251,890||$137,737|
|Non-Lakefront 10+ Acres||$414,984||$257,547|
** Current Listings from the Sullivan MLS only. Closed sales includes Sullivan sales compiled from Sullivan MLS and Hudson Gateway MLS.