WASHINGTON—Existing-home sales fell in September, the eighth month in a row of declines, according to the National Association of Realtors. Three out of the four major U.S. regions notched month-over-month sales contractions, while the West held steady. On a year-over-year basis, sales dropped in all regions. Existing-home sales in the Northeast dwindled 1.6% from August…
Read MoreWHITE PLAINS—Home sales continued to decline in the third quarter of this year as the New York City and Hudson Valley markets grapple with stubborn low inventory levels, high inflation, rising interest rates and home prices. Overall home sales in the region fell in the fourth quarter of 2021 and now in the first three…
Read MoreNEW YORK—The controversial Bruckner Boulevard rezoning proposal that was supported by city leaders and labor unions, but was opposed by some community advocates, including Community Board 10, was passed unanimously by the New York City Council on Oct. 12 by a 48-0 vote. The approval is a victory for New York City Mayor Eric Adams,…
Read MoreSANTA CLARA, CA— September data confirms a fall cooldown has come to the rental market, as national rent growth dropped to its lowest annual pace (+7.8%) since June 2021, according to the Realtor.com Monthly Rental Report released on Oct. 13. In another sign of more typical seasonal moderation than last year, the U.S. median rental…
Read MoreThe Bronx saw record dollar volume and the second most single-family home transactions ever recorded with $1.54 billion spent over 189 transactions. These were slight increases over the second half of 2021 and significant increases year over year. The overall increase in activity is an indication of the upside and opportunities found in the Bronx.…
Read MoreNEW YORK—Regional Realtor associations from New York, New Jersey and Connecticut are joining forces to present the Global Real Estate Summit NYC on Thursday, Oct. 20, bringing together top minds in the industry to discuss emerging trends and share best practices for leveraging opportunities in the global marketplace. The summit, now in its 16th year,…
Read MoreNANUET—Howard Hanna | Rand Realty reported on Oct. 11 it had acquired Murphy Realty Group, located at 304 Wall St. in Kingston in Ulster County. The firm’s entrance into Ulster County, NY, adds more than 40 hand-selected local agents, well-known for their experience and knowledge in the area, in an office recognized for more than…
Read MoreNEW YORK—Did you know that The Bronx is the oldest borough in New York City, or that it’s also home to the oldest golf course in the country—Van Cortlandt Park Golf Course? Historical sites are scattered throughout The Bronx as well, including the Edgar Allen Poe Cottage, Van Cortlandt House Museum, Woodlawn Cemetery and the…
Read MoreWHITE PLAINS—At a recent webinar hosted by the Hudson Gateway Association of Realtors, a National Association of Realtors economist reported that affordability of homes in our region continues to slip. “Households now need to be earning about $200,000 per year in order to be able to afford just half the listings in the New York…
Read MoreNEW YORK—The Hudson Gateway Association of Realtors, Inc. joined FIABCI, the International Real Estate Federation, and real estate colleagues from 15 countries around the globe to showcase New York City’s assets as part of a two-day international trade mission. HGAR is a principal member of FIABCI-USA, and one of its members, Susan Greenfield, associate broker…
Read MoreNEW YORK—The real estate market in the lower Hudson River Valley and greater New York City suburban area continued to be battered by chronic low inventory, rising interest rates and persistent inflation during the third quarter of 2022. However, even given these adverse conditions, resiliency and consistent buyer demand are still evident, especially when compared…
Read MoreWHITE PLAINS—The Friedkin Property Group of San Francisco has acquired the 260-unit Windsor at The Gramercy apartment property in White Plains for $113 million. The sale transaction for the property at 2 Canfield Ave., was brokered by CBRE, which represented the seller—national real estate investment management firm GID—in the deal. CBRE also procured the buyer.…
Read MoreHARRISON—The continued adaptive reuse and redevelopment of office properties along the Platinum Mile and particularly in a section in Harrison called the “Teardrop Neighborhood” continues. In recent years, at the former Platinum Mile suburban office corridor in Harrison and White Plains along I-287, developers have torn down or rebuilt underutilized office properties for multifamily and…
Read MoreWHITE PLAINS—The Hudson Gateway Association of Realtors, Inc. and OneKey MLS recently hosted a virtual panel discussion where financial and real estate experts explored the impacts of rising interest rates and return-to-work orders on the New York City housing market in the fourth quarter of 2022. Panelists agreed home buyers may want to move sooner…
Read MoreYONKERS—The Yonkers Industrial Development Agency reported that it recently voted to grant preliminary and final approvals of financial incentives for new residential and commercial projects representing a total private investment of $182.2 million, The developments are projected to create more than 600 construction jobs and over 300 apartments including affordable housing for low-income seniors. “These…
Read MoreWASHINGTON—Pending home sales sagged for the third straight month in August, the National Association of Realtors reported today. Three out of four major regions experienced month-over-month decreases in transactions, however, the West saw a modest gain. Year-over-year, all four regions posted double-digit declines. The national Pending Home Sales Index (PHSI) fell 2.0% to 88.4 in…
Read MoreGOSHEN—Now in his third term of office, Orange County Executive Steven M. Neuhaus is looking beyond the COVID-19 pandemic to the future of Orange County. Neuhaus, at a recent meeting of the Alliance for Balanced Growth, did not hold back and offered his frank assessment of the economy and what he believes is the proper…
Read MoreThe 2022 Annual Meeting of the Hudson Gateway Association of REALTORS®, Inc. will take place on October 24, 2022, at 3:30 PM at the Sleepy Hollow Hotel and Conference Center (formally the DoubleTree Hotel) located at 455 S Broadway, Tarrytown, New York, 10591. Due to the ongoing COVID-19 pandemic, Hudson Gateway Association of REALTORS®, at…
Read MoreWASHINGTON—Existing-U.S. home sales experienced a slight dip in August, marking the seventh consecutive month of declines, according to a report released today by the National Association of Realtors. Month-over-month sales varied across the four major U.S. regions as two regions recorded increases, one was unchanged and the other posted a drop. On a year-over-year basis,…
Read MoreWEST BABYLON—For August 2022, OneKey MLS reported on Sept. 20 a regional closed median sale price of $621,500, representing a 0.20% increase over the reported $620,000 in July 2022. Between July and August 2022, closed regional sales transactions, including residential, condo, and co-op sales, in the region covering Montauk to Manhattan, north through the Hudson…
Read More