Third Quarter 2022 Shows a Rise in Median Single-Family Home Prices in Rockland

by Rockland Daily Staff

Limited inventory is mainly driving the rise in the price of median single-family homes in Rockland County.

In addition to low inventory, rising inflation and interest rates also play an integral role in the high costs of homes. Although buyer demand remains high, the reasons above create the perfect storm for low sales numbers. 

The median sales price for single-family homes in the third quarter of 2022 in Rockland is $660,000. This number is 14.2% higher than the previous year. Single-family home prices dropped 9.2% in Rockland, and condo sales fell 15.8%. Despite all this, the third quarter of 2022 is slightly ahead compared to the third quarter of 2019. 

On a brighter note, a Hudson Gateway Association of Realtors spokesperson's opinion is, "We also are likely experiencing a return to a more seasonal market, which disappeared during the latter half of 2020 and the entirety of 2021".