We are officially in the spring market. Rates are beginning to trend down a bit but are still almost 40% higher than last year at this time. Sellers, take note — despite higher interest rates, there are a tremendous number of buyers who are actively looking and ready to buy now. The primary issue continues to be lack of inventory — there are simply not enough homes on the market to meet buyer demand. With a limited number of new listings coming on the market, multiple offers continue to be the norm and sellers still have the upper hand. The number of sales continues to decline and is well below pre-pandemic levels. While some buyers are being priced out of the market or are unable to meet banks’ stricter lending requirements, the decline in sales is primarily attributed to lack of homes available for sale. The white-hot appreciation we have seen the last three years has already abated, and I expect a more sustainable single-digit appreciation going forward. With that, here are the homes that sold in the Rockland County rivertowns in March.
| Style | Location | Address | Beds | Baths | List Price ($) | Sale Price ($) | DOM |
| Ranch | C. Nyack | 32 Vine St | 2 | 1 | 419,000 | 425,000 | 7 |
| Cape Cod | C. Nyack | 2 Francis Pl | 3 | 1 | 399,000 | 440,000 | 7 |
| Condo | Nyack | 3 Main St #603 | 3 | 2 | 739,000 | 739,000 | 64 |
| Victorian | Nyack | 43 Summit St | 3 | 1.1 | 599,000 | 594,500 | 16 |
| Colonial | Nyack | 81 Front St | 3 | 2 | 510,000 | 510,000 | 141 |
| Co-op | S. Nyack | 1 Salisbury Pt #2B | 1 | 1 | 294,000 | 284,000 | 29 |
| Colonial | Piermont | 28 Stevenson St | 5 | 4.1 | 1,899,999 | 1,770,000 | 127 |
| Contemporary | Piermont | 659 Piermont Ave | 3 | 2.1 | 1,299,000 | 1,280,000 | 318 |
| Colonial | Piermont | 114 Crescent Rd | 4 | 3.1 | 799,500 | 777,500 | 92 |
| Condo | Piermont | 3 W Lawrence Park Dr #10 | 1 | 1 | 199,900 | 199,900 | 22 |
| Colonial | Palisades | 435 Oak Tree Rd | 4 | 2.2 | 625,000 | 585,000 | 83 |
| BiLevel | Palisades | 5 Lauren Rd | 4 | 3 | 599,999 | 599,000 | 25 |
| The Rivertowns | Rockland County | |||||||
| 1Q2022 | 1Q2023 | % Change | 1Q2022 | 1Q2023 | % Change | |||
| Single-Family Homes | Single-Family Homes | |||||||
| New Listings | 55 | 35 | -36.4% | New Listings | 589 | 427 | -27.5% | |
| Sales | 58 | 23 | -60.3% | Sales | 518 | 335 | -35.3% | |
| Avg Sales $ | 827,288 | 820,178 | -0.9% | Avg Sales $ | 656,408 | 675,492 | 2.9% | |
| Med Sales $ | 698,750 | 594,500 | -14.9% | Med Sales $ | 600,000 | 625,000 | 4.2% | |
| DOM | 80 | 71 | -11.3% | DOM | 51 | 52 | 2.0% | |
| Condos/Co-ops | Condos/Co-ops | |||||||
| New Listings | 15 | 19 | 26.7% | New Listings | 188 | 170 | -9.6% | |
| Sales | 11 | 8 | -27.3% | Sales | 185 | 102 | -44.9% | |
| Avg Sales $ | 513,636 | 365,425 | -28.9% | Avg Sales $ | 334,381 | 361,778 | 8.2% | |
| Med Sales $ | 499,000 | 291,500 | -41.6% | Med Sales $ | 280,000 | 310,000 | 10.7% | |
| DOM | 67 | 35 | -47.8% | DOM | 45 | 41 | -8.9% | |
By Donna Cox of Howard Hanna Rand Realty
