The housing market in Orange County, NY is hot. The lack of houses for sale has created a frenzy among qualified buyers. There is only a 1.3 months supply of housing inventory, which is driving up prices and creating bidding wars. This is great news for sellers, but it can be very frustrating for buyers who are struggling to find their dream home.

In the month of June there were 378 active listings when this post was written. During the same time there were 283 properties sold. That puts us at a 1.3 months supply of inventory. A healthy market would be about a 5-6 month supply in inventory.

Will the market change? The Feds recently increased interest rates by .75%. They are also signaling another increase of .5 - .75% increase in July. Interest rates are on the rise, which will reduce purchasing power and may cause some buyers to reconsider their plans. However, buyer demand remains high at the moment. Only time will tell how these factors will impact the housing market in Orange County.

Are you thinking of selling your home? Now is the time. Buyers are motivated to be in their new home before school starts in the fall. Prices are at an all-time high, with the median sales price reaching $421,250  in May 2022. That's a 21.7% increase from May 2021. If you have been thinking of selling your home, now is the time to take advantage of this market.

Call me today to discuss your options and to schedule a listing appointment. I will provide you with a comparative market analysis of your home and develop a marketing strategy to get you the highest dollar value for your property.

Don't wait, the market is moving quickly. Call me today at 845-420-4562 to discuss how I can help.