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.
Average sales price skyrockets on upper end sales
(November 2014) October was a heady month. Six sales closed during the month above $500,000, including a $1.45M sale at Timber Lake, pushing the average sales price for the latest 3 month period skyrocketing to $188,958. That's the highest average sales price we've seen here since 2008, and is 20% higher than the same 3 month period a year earlier.
But don't pop the champagne corks yet. The median sales price, which is a more reliable indicator of total market performance, was essentially flat, at $134,000. (Larger sales have a much greater impact on the average than the median.) Sales volume also slipped 9% from the previous year.
Overall, though, this is good news. Those six $500K+ sales indicate more buyer confidence in the upper end of the market, a segment that has been particularly sluggish.
The year-over-year 9% drop in sales volume for the latest 3 month period is an slight improvement over the 10-13% year-over-year decline we've seen for the past few months. This is not out of line with what's being reported around the country, with sales volume in many markets down over last year.
For the latest 3 month period houses, on average, sold for 92.4% of their asking price, up slightly from last month's 91,8%, and the second month in a row where the bd to ask ratio was greater than 90%. This is a big jump over the 85-87% bid/ask range we saw during much of 2013.
|Current Listings**||Closed Sales Aug - Oct 2014|
|All Single Family Homes||$235,048||$188,958|
|Non-Lakefront 10+ Acres||$433,174||$309,687|
** Current Listings from the Sullivan MLS only. Closed sales includes Sullivan sales compiled from Sullivan MLS and Hudson Gateway MLS.