While my primary focus is on the Monroe, NY Real Estate Market, I support home owners and buyers in most of Orange County, NY. I recently shared the Monroe NY 4Q12 – 4Q13 market results as well as the Warwick NY results for the same time period. In both cases, there was a small upward movement in average prices from 4Q12 to 4Q13.
Of course, real estate is extremely local, so the question is, are there any areas in the immediate area that saw a more obvious price increase?
In Blooming Grove, NY, the town that sits on the northern edge of Monroe, three of the four 2013 quarters experienced a higher average price point than the 4th quarter of 2012.
The average in the 4th quarter of 2012 was $222K, and in 4th quarter of 2013, the average was $241K, a gain of nearly 9%.
Only one quarter of 2013 dipped below the starting point of $222K, and that was in the 2nd quarter.
In 2Q13, there were a higher percentage of homes sold in the Mountain Lodge portion of Blooming Grove. Mountain Lodge is a community which includes seasonal homes and summer cottages that were converted into year round homes. The price range in this area is typically much lower than other areas in the Monroe vicinity. While this area does provide an excellent opportunity for buyers with a low down payment to purchase their first home, the increased sales may have depressed the 2nd quarter results somewhat.
The bottom line is that the sales prices of single family homes in the village and town of Blooming Grove NY are increasing, at a faster rate than some of the surrounding areas. If you have been thinking of selling your home, but have been waiting for the market to improve, now would be a great time to call me on 914-419-0270 for a free market analysis!