“The Price is Right”

So here we are, at the beginning of a new decade. 2009 - 8 - 7 and 6 are way behind us. The question on many people’s minds is “How is the market doing”? When they ask me this question they are not speaking of the stock market, or the New World Food Market on 59, they are asking about THE REAL ESTATE MARKET in Rockland County. The quick answer is “It’s recovering”. To be more specific, unit sales are rebounding in certain price ranges, but prices are not. Prices have declined about 10.8% in Rockland over the last year, and 10 point something percent the year before. Luxury or high end housing has taken the greatest hit. In 2006 Rockland County had 52 sales close over one million dollars, 2008 had 33 sales, and 2009 only 13 - in the entire county. In 2006 there were 133 sales closed between $750 and $1,000,000, and in 2009 only 51. The fastest moving market was the $500,000 and below market with 2006 showing racking up 844 sales, 2007 - 785, 2008 - 752 and 2009 ended with a whopping 857 sales.

If you price your home right it will sell, no doubt. Talk to us, we’ll help you price it using our unique pricing formula I devised. By the way, Wright Bros. Real Estate was the number one real estate office in the Nyacks and River villages in terms of closed units for 2009. We’re really proud of that.

Russ Woolley, Broker-Owner

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