The local Mid-Hudson Valley housing market activity has steadily improved over the past several years, and we finished up 2016 with more sales than we have seen for many years. Increases in homes sold compared to 2015 were significant in most areas. Dutchess County sales were up by 23.8%, Orange was up 25.3%, Putnam up 19.1%, Ulster had a 22.9% increase and Westchester a 7% increase.
In the Mid-Hudson Valley the median prices of homes rose at a moderate level compared to last year. Take a look at the chart to see how prices have changed in our area year over year, and how they compare to prices 5 years ago.
| County - Median Sales Price | 2016 | 2015 | % Change | 2012 |
| Dutchess | $246,000 | $240,000 | +2.5% | $240,000 |
| Orange | $215,000 | $215,000 | 0.0% | $225,250 |
| Putnam | $300,000 | $293,000 | +2.4% | $290,000 |
| Ulster | $200,000 | $193,000 | +3.6% | $194,140 |
| Westchester | $470,000 | $475,000 | -1.1% | $445,000 |
Homes in our area have remained affordable while prices have risen beyond many buyers' reach in other areas of the country. This bodes well for our region as the Millennials begin to settle down with families and baby boomers downsize or relocate out of higher-priced areas closer to Manhattan.
This year is predicted to be another good year for housing. Interest rates are expected to stay low, new mortgage guidelines are expected to be introduced to provide more affordable loans, and the economy as a whole is expected to improve.
If you are thinking of buying or selling a home in the Mid-Hudson Valley, contact us. Buyers and sellers have trusted us to help them achieve their real estate goals for over 25 years. We look forward to helping you achieve yours!
