HUDSON VALLEY: 2022 Housing Market North Of New York City


Compared to 2020 and 2021, housing sales in Westchester, Putnam, and Dutchess Counties showed a decline in 2022, according to a report by the Houlihan Lawrence real estate brokerage from Thursday, Jan. 5.

While sales declined, average sales prices of homes also increased in all three counties, the report said. Houlihan Lawrence officials attributed this to an "unsustainable" volume of sales created by high demand during the height of the pandemic in 2020 and 2021.

The report included the following data on the 2022 housing markets in each of the three counties:

  • Westchester County: Sales decreased by 17.7 percent, while median sales prices increased by 4.5 percent;
  • Putnam County: Sales decreased by 22 percent, while median sales prices increased by 11 percent;
  • Dutchess County: Sales decreased by 22.7 percent, while median sales prices increased by 5.4 percent.

The increase in sales prices was also caused by demand remaining high while interest rates rose, Houlihan Lawrence officials said. Inventory also decreased throughout the year, they added.

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