What Happened in 2011 with the Ulster County Real Estate Market??

Posted by Thomas Jackson on Tuesday, January 17th, 2012 at 3:16pm.

Ulster County Real Estate 2011 in a Nutshell!!  

2011 was an interesting year for Ulster County real estate. Overall total units sold were down 15%. However flying in the face of that trend was a 3.6% increase in the average sale price of homes. This increase represents the first such increase year over year since the market topped in 2007.  Average days on market for homes sold increased by a minimal 3%, and the list to sale ratio remained steady from 2010 at 93% of asking price. Interest rates remain at the lowest level since the 1950.

What does this mean to buyers and sellers? On the buyer side it makes sense to strongly consider a purchase in 2012. The increase in average sale price could signal the beginning of a rebound in the market place. Coupled with low interest rates there may never be a better time to buy. For sellers, there should be more buyers in the market thus enhancing the opportunity to sell. Financing options are strong for qualified buyers and several local banking institutions are very easy to work with.

All in all the 2012 should be a great year to accomplish your real estate goals whether buying or selling.

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