Rockland and Orange County sales slip

From the Journal News:

Rockland home prices slip 6.9 percent

In data released yesterday, the Greater Hudson Valley Multiple Listing Service reported that Rockland condominiums such as the Cozzolinos’ took an average of 70 days to sell in the final three months of 2006, 19 days longer than the comparable period a year ago, MLS said.

Prices, however, increased. The median price for Rockland condos rose 1.7 percent to $285,750 in the final months of 2006, from $281,000 in the year-ago quarter. The number of units sold fell 17 percent to 166. In neighboring Orange County, condo prices rose 1 percent to a median $225,000, while the number of units sold fell 11.5 percent to 193.

With regard to prices, however, single-family homes took the brunt of the region’s softening real estate market. The median price for those in Rockland fell 6.9 percent to $475,000 in the final months of 2006, from $510,000 a year earlier, MLS said.

In neighboring Orange County, the median price for a single-family home fell 3.1 percent to $315,000, from $325,000 for the quarter ending Dec. 31, 2005.

Fewer houses sold, too. Rockland recorded 390 sales during the recent quarter, down 11 percent from 438 a year ago. In Orange County, the number of sales fell 12.8 percent to 779.

Inventories rose. The number of single-family homes in Rockland available for sale rose 13.1 percent to 1,163, from 1,028 in the comparable period a year ago. In Orange County, inventories jumped 14.2 percent to 2,831 homes.