Nanuet Homes and Condos

Better Homes & Garden Rand Realty. Michael Truiano 845-480-2366, Nanuet NY 10954

Category Archives: Nanuet Real Estate Market Statistics

2016 Nanuet real estate statistics

 

2016 Annual Nanuet Real Estate Report

 

The results are in for 2016 real estate statistics in Nanuet.  These calculations are based on Nanuet home sales between January 1, 2016 and December 31, 2016. Obviously, this is not a substitute for a full home evaluation, which I can also provide if you ever need. Just call me at 845-480-2366 and I would love to discuss any real estate questions you might have. Below you can find different pricing categories but let’s start with an overview of the 2016 Nanuet real estate market.

  • The average Nanuet SOLD price in 2016 was $417,737.
  • This was a slight decrease from the 2015 average ($426,596)
  • The avg. ASKING price on 2016 Nanuet homes sold was $429,642.
  • On average, homes that did sell sold for 97% of asking price.
  • The average SOLD price per square foot was $208/sq-ft.
  • The avg. Nanuet home took 171 days on the market to sell.
  • We also tracked the average sales price back to 2002.
2002 2003 2004 2005 2006 2007 2008
$348,537 $427,161 $460,548 $535,928 $515,236 $512,738 $479,216
2009 2010 2011 2012 2013 2014 2015
$446,084 $439,112 $404,090 $396,215 $401,025 $436,168 $426,596

 

 

Mean avg. by square footage range:                        

900-1199 sq ft            $307,700
1200-1499 sq ft            $359,877
1500-1799 sq ft            $366,238
1800-2099 sq ft            $396,368
2100-2399 sq ft            $476,922
2400-2699 sq ft            $513,000
2700-2999 sq ft            $605,442
3000-3299 sq ft            $634,000

Mean avg. sold price by home style:

Colonial $489,038
High Ranch/Bi-level $426,929
Capecod $366,464
Split level $402,916
Ranch $341,550

 

 

2016 Nanuet avg. sold price by # of bedrooms:

3 bedrooms $367,044
4 bedrooms $438,967
5 bedrooms $502,454

 

2016 nanuet real estate prices

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Nanuet real estate half time report July 2012

The first half of the year has come and gone, which means it’s time for my Nanuet Half Time Report. Below, I have calculated different pricing statistics from transactions reported through the Greater Hudson Valley Multiple Listing. For the purposes of this report “average” refers to the total volume in sales price divided by the number of units sold.  First, let’s start with an overview of what happened in the Nanuet real estate market over the first half of the year. 

  • The average Nanuet SOLD price in the 1st half 2012 was $394,085
  • This was a 1.6% increase from 1st half 2011($387,556) 
  • The average ASKING price on Nanuet homes sold was $421,270
  • On average, homes that did sell, sold for 93.5% of ask price.

The 1.6% increase in Nanuet values may sound insignificant but this is truly a step in the right direction after 5 years of decline. The tables on the next page are statistical averages for homes sold from January 1 through June 30,2012. Obviously, this is not a substitute for a full evaluation of your property’s value, which I’m happy to provide if you ever need it. Feel free to call me at anytime if there is anything else I can provide for you.

FIRST HALF 2012 NANUET REAL ESTATE MARKET STATISTICS

 Average SOLD price by home style:                   

Colonial  $483,133
High Ranch/Bi-level  $405,850
Capecod  $375,000
Split level  $355,666
Ranch  $300,200

 

 Average SOLD price by # of bedrooms: 

3 bedrooms $347,550
4 bedrooms $441,907
5 bedrooms $445,000

 

 

 

Average price by square footage range:

 

900-1199 sq ft            $283,600
1200-1499 sq ft            $353,333
1500-1799 sq ft            $356,666
1800-2099 sq ft            $408,928
2100-2399 sq ft            $395,500
2400-2699 sq ft            $413,333
2700-2999 sq ft            $549,700
3000-3299 sq ft            no data 
3300 + sq ft            no data

 

 

 

 

 

 

 

In today’s economy more buyers are starting to realize the importance of living within their means. This may be part of the reason why we did not see any closings in the first half for homes larger than 3,000 square feet. And while 6 months is a relatively small sample size, we can see that buyers did not value a fifthth bedroom much more than a 4 bedroom home. Why pay signifigantly more for a fifth bedroom when bunkbeds are a much more affordable option?  As a preemptive response to readers who may want to disagree, I want to reiterate that these numbers are not my opinions of value. Rather, they are the statistical averages of what transpired in the market so far this year.

The image below shows, month by month, how many homes went into contract over the past 18 months. At the beginning of the year I reported that 2011 had trended upward, especially in the second half. At the end of 2011, I was very curious to see if this would continue. Not only has the positive trend continued, but each month in 2012 has outperformed itself from 2011.

Obviously, this report is not a substitute for a full evaluation of a property’s value, which I’m always happy to provide. But hopefully this Half Time Report will give us a ballpark value and help fellow residents keep their fingers on the pulse of what’s happening in our local market.

Month by Month, how many buyers sign real estate contracts on Nanuet Homes, Rockland County NY

 

2011 Nanuet real estate sales statistics and market reports, Rockland County NY

The results are in for 2011 real estate prices in Nanuet. 

  • Find out your Nanuet Real Estate Home ValueThe median Nanuet SOLD price in 2011 was $404,090.
  • This was a 7.9% decrease from the 2010 median ($439,112) 
  • The median ASKING price on Nanuet homes sold in 2011 was $422,958
  • On average, homes that did sell sold for 95.5 percent of asking price.

 

We also tracked the average sales price in Nanuet over the past ten years.

2002 2003 2004 2005 2006
$348,537 $427,161 $460,548 $535,928 $515,236
         
2007 2008 2009 2010 2011
$512,738 $479,216 $446,084 $439,112 $404,090
 

2011 Nanuet Median Sold price by number of bedrooms:

 
3 bedrooms $340,342
4 bedrooms $441,740
5 bedrooms $525,000
 

Median sold price by home style:

 
Colonial  $494,666
High Ranch/Bi-level  $374,647
Capecod  $351,833
Split level  $324,375
Ranch  $250,583
 

Median price by square footage range:

 
900-1199 sq ft            282,500
1200-1499 sq ft            322,200
1500-1799 sq ft            358,333
1800-2099 sq ft            371,000
2100-2399 sq ft            363,000
2400-2699 sq ft            481,625
2700-2900 sq ft            553,125
3000-3299 sq ft            525,000
3300 + sq ft            640,000
 
 
Trend in Nanuet home contracts signed in 2011The above chart is one of my favorites. It shows, month by month, how many homes went into contract  in Nanuet. In other words, how many buyers are buying each month.   The lackluster ‘Spring Market’ had many sellers worrying that their homes would never sell.  However, mortgage interest rates below 4 percent and increasing rent prices helped fuel the 2nd half positive trend.  After the first quarter of 2012 we will look back to see if the trends continued upwards.  (Let’s keep our fingers crossed!)
 

Which Nanuet homes are currently for sale?

 
 
Nanuet map based home search
 
 
 

Information researched through Greater Hudson Valley Multiple Listing Service.  These calculations are based on Nanuet home sales between January 1, 2011 and December 31 2011. While Nanuet consists of multiple school districts, for the purposes of this report we have only included Nanuet single family homes within the Nanuet, Clarkstown or Pearl River school districts.

While Nanuet is our primary focus, visitors can use our website to search for all Rockland County real estate listings for sale.

Click here to access our MLS wizard for all Rockland County homes and condos.

Nanuet Real Estate Report: Nanuet homes and condos sold in August 2011

Nanuet Real Estate Report for August 2011

How was the activity in the Nanuet Real Estate market for August?  Two Nanuet condos and town houses officially closed.  93 Meadow Lane, (Amber Fields) closed and sold for $345,000. 41 New Holland Village, (2 bedroom condo in New Holland Village) sold for $225,000.
On the residential real estate  market, six Nanuet single family homes sold and closed in August. Two Nanuet colonials, two Nanuet Bi-levels, one split level and one Nanuet Cape cod sold.  
Nanuet Colonials – 5 April Court, a 2600 square foot colonial on a cul de sac, was the most expensive home sold in Nanuet for August 2011. This home sold for $520,000. The second Nanuet colonial sold last month was 19 Newport Drive. This home sold for $511,000. 19 Newport is a 2500 square foot center hall colonial with an updated kitchen with granite countertops.
Nanuet Bi-levels- 4 Oakland Place sold for $505,000 in August. Although this home has a Nanuet address, it is located within the Clarkstown School District.  It was also expanded to 6 potential bedrooms! The second High Ranch/Bi-level sold was 25 Nanuet Avenue. This home is on a dead-end street. No Traffic!  25 Nanuet Avenue was fully remodeled in 2008 and sold last month for $455,000.
Nanuet Split Level- 17 Birch Drive sold for $385,000. This 3 bedroom 1568 square foot home also lies within the Clarkstown School district.

Click here to view all active Nanuet condo listings

The Rockland County Cirrus Home Search is the next generation of home searching technology. Nanuethomesandcondos.com has interactive mapping technology and location-based geo-spatial boundaries  to create the ultimate online consumer property search system.  Rockland County Home searching is fast, easy, and will quickly become the favorite destination of home seekers in Nanuet.
Nanuet Real Estate Search for Listings

Nanuet Real Estate Report: Nanuet Homes and Condos SOLD July 2011

Nanuet Real Estate Report for July 2011

How was the activity in the Nanuet Real Estate market last month?  Five Nanuet condos and town houses officially closed.  12 Kensington Ct, (Knolls East in the Hamlets) closed and sold for $345,000. 241 Treetop Circle (Treetop, Hamlets) closed and sold for $320,000. 28 Alexander Court (Town house in Versailles) sold for 300,000.  This home was a short sale. 4 Even Court (Vista at Kingsgate, Hamlets) sold for 280,000.  Lastly, 50 Tulip Court (Timberline, Hamlets) sold for 264,000.

On the residential end, four Nanuet single family homes sold and closed in July. 2 Nanuet colonials and 2 Nanuet bi-levels.  3 Duryea Place, a 3,500 square foot colonial which was built in 1993 sold for  $640,000.  The second Nanuet colonial sold last month was 37 Dykes Park Road. This was a new construction home which sold for $595,000.  Dykes Park road is located off Route 59, near White Castle. The two high ranches sold in Nanuet were 90 Tennyson Drive and 25 Amarillo Drive.  Both of these Nanuet homes are within the Clarkstown school district.  They sold for $365,000 and $412,000 respectively. 90 Tennyson was sold AS IS and needed TLC but had great potential.  It actually sold for MORE than asking price.  Asking $330,000.  It was the first Nanuet home in 2011 that sold for more than asking price.  The last Nanuet home that sold for more than asking price was 29 Birchwood Terrace, sold in October 2010 for $335,000. (Asking price was $329,900..) This was a Nanuet foreclosure.

 

Search Nanuet Real Estate

The Rockland County Cirrus Home Search is the next generation of home searching technology. Nanuethomesandcondos.com has interactive mapping technology and location-based geo-spatial boundaries  to create the ultimate online consumer property search system.  Rockland County Home searching is fast, easy, and will quickly become the favorite destination of home seekers in Nanuet.

Nanuet Real Estate Search for Listings

Nanuet real estate activity for the month of May, 2011

Search Nanuet NY Rockland Real Estate Homes For Sale, Nanuet Condos for sale and Nanuet Town houses for saleHappy Summer! The first week of June is a great time to look back on May and gauge our market direction.  I am pleased to announce that 6 buyers have signed real estate contracts in Nanuet last month!  To put this into perspective, only three Nanuet real estate contracts were signed in May 2010.( Nanuet real estate statistics provided by the Greater Hudson Valley Multiple Listing Service.)

The following image contains information on which Nanuet homes actually went into escrow in May. 
At this point it should be another 60 to 90 days before closing.  June should be a strong month as well since
the 60-90 day escrow would allow new homeowners to settle in just in time for September’s new school year. 
While all parties may not disclose the actual sales price until closing we can still  evaluate any possible 
trends in asking prices.  For instance, there are currently several Nanuet Colonials on the market but only
the two priced at $499,000 went under contract.

nanuet real estate under contract may 2011

The days on market stats are also very telling.  The least amount of time it took any home in Nanuet to
secure a contract was 39 days.  This was for a $419,000 raised ranch on Amarillo.  (A dead-end street)

View all the current Nanuet homes for sale Here!
Search Nanuet NY Rockland Real Estate Homes For Sale, Nanuet Condos for sale and Nanuet Town houses for sale

Nanuet Condos First Quarter 2011 Market Statistics

The first quarter of 2011 has come and gone.  It’s a perfect time to look back on real estate activity in the Nanuet condo market and assess where we are.  15 Nanuet condos and town houses sold and closed from January 1st 2011 through March 31st 2011.  This is slightly down from the first quarter 2010 when 19 units sold in Nanuet.  However, we need to account for the 2010 first time home buyer tax credit that enticed some buyers into the market that may not have purchased otherwise.  Here’s a snapshot of all the Nanuet condos and town houses that sold in the first quarter 2011.  We can see what they were asking vs what they actually sold for.  We can also see the real estate property taxes and monthly homeowners association fees for maintenance.  The most important statistic shown below is the “SP$/LP$” column.   This is the sales price to list price ratio.  When I meet with a potential buyer for the first time I always want to educate them about trends and norms with how much of a discount they can realistically expect on a well priced listing. As you can see below even the least expensive Nanuet condo still sold for nearly 90 percent of asking price.  At the top end,  78 Timberline actually sold for 104% of asking price.  Why might someone pay above asking price in a buyer’s market?  As odd as it may sound a well priced home will still receive multiple offers which could potentially drive up value.

nanuet condos sold in the first quarter 2011

As you can see we are not Florida, we are not California and we are not Las Vegas.  We are Rockland County and we remain strong.  It may be a buyer’s market but an unaware buyer that expects to purchase a home in Nanuet for a 25 percent discount will have a frustrating home buying experience.  Of course, this assumes the home is priced correctly for the market and property condition.  Search our website for all Nanuet condos for sale and if you find one you love we will help you determine if it is priced correctly and what type of offers will be accepted while still getting the best deal possible.

**complexes from table above include the Hamlets: (Timeberline, Vista, Eagle Ridge, Knolls East) as well as Normandy Village, New Holland Village and Tudor Hill.

Nanuet Real Estate Short Sales and Foreclosures

Nanuet NY Rockland County Real Estate Home For SaleA short sale exists when a seller attempts to sell a home for less than the their current mortgage value.  For instance if someone purchased a Nanuet Colonial in 2005 they probably paid near $650,000.  With an 80 percent loan to value they would have financed $520,000.  In 2011 that same Nanuet Colonial could effectively sell on the open market for  $500,000.  Putting aside closing costs and expenses the sellers would be short $20,000.  ($520,000 loan minus $500,000 current value.)  In the real estate world these sellers are also considered upside down or under water.

How does a short sale affect a buyer?

Ultimately, any offer on a short sale needs to be approved by the seller’s bank.  This approval rarely materializes quickly.  A normal real estate transaction can be negotiated within a 24 hour period but a short sale offer often wont even receive a response for weeks.   The actual approval and closing could be delayed as much as 6 months.  Based on this information a short sale would not be recommended for a buyer that has an absolute deadline in which to move.  (I.E. job relocations, rental lease expiration or a having already sold an existing home.)  Since these factors diminish the buyer pool available for this type of transaction it naturally brings down the hone value compared to comparable homes that could sell quickly (lowering the demand lowers the price.)  With that being said if a potential buyer for a Nanuet or Rockland County home for sale does not have any pressing deadline in which to move they could capitalize on the lower prices.

Nanuet NY Real Estate Market Statistics 2/2011

Nanuet Real Estate Facts and Figures: January and February 2011

  • Nanuet Real Estate Market Statistics8 Nanuet houses have sold and closed within the first 2 months of 2011. 
  • $575,000 was the highest Nanuet Sales price for the first 2 months of 2011.  (4 beds, 3.1 baths, 3050 square feet.)
  • The Average (mean) Sales Price in Nanuet for January and February 2011 was $396,500.
  • The Average asking price on these homes that actually did sell  was $419,938.
  • Sellers received on average 94 percent of asking price.

 

January and February home sales by price and property style

  • Nanuet Colonial:  $ 575,000
  • Nanuet Bilevel/High Ranch:  $462,000
  • Nanuet Cape Cod: $ 405,000
  • Nanuet Colonial:  $380,000
  • Nanuet Cape Cod:  $365,000
  • Nanuet Colonial: $345,000
  • Nanuet Split Level: $335,000
  • Nanuet Cape Cod: $305,000