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Sullivan
County Real Estate - Catskills Buyer Agency, the smart
way to find and buy real estate in Sullivan County, NY
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Data MethodologySales and inventory data is from the Sullivan County Multiple Listing Service. The Sullivan MLS does not include all real estate sales made in the county, or all properties in inventory available for sale. "For Sale By Owner" homes, private sales, or sales of properties only listed in a neighboring Multiple Listing Service (Greater Hudson Valley or Ulster) but located in Sullivan County are not included. Properties not listed in the MLS, for example offered directly by a developer or "open listing" sales by brokers, are also not included. Even with this limitations of the data set, the vast majority of sales in Sullivan County are MLS-reported, and trend data extrapolated from this data correlates highly with the movements in the real estate market. One very important consideration is that I only include single family homes in the data. Other news sources often report statistics based on a larger data set of "all residential sales" which can include mobile homes, seasonal homes and multi-family properties. Sullivan County has a larger proportion of mobile homes and seasonal homes (unwinterized, and only usable in the warmer months) than neighboring counties, and the inclusion of these property types unfairly skews Sullivan County property prices downward compared to other counties. I try very hard to normalize data to make an apples-to-apples comparison. I generally pull data on the 2nd or 3rd of the month for the previous month and quarter. At that point, not all sales for the previous month may have been reported to the MLS. Typically, an additional 3% to 4% of sales will be reported after that, but seldom has a significant impact on the average or median prices. I do adjust the data mid month. Rather than reporting single month sales data, I use a rolling 3 month average. This is purely a statistical move, to ensure that there is a sufficient sample size. In a single month, there may only be 50 or 60 sales, and one or two particularly large sales can wildly skew the average with such a small data set. By using a 3 month rolling average, I'm calculating averages based on 150 to 200 sales, which minimizes the impact of any large outlying sales and gives, in my opinion, a far more accurate picture of market trends. Return to Current Market Trends page.
David Knudsen
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