May was a good month for Ulster home sales
KINGSTON, N.Y. » Home sales in Ulster County grew in May by about 20 percent above the same month last year, according to the Ulster County Board of Realtors.
A total of 129 homes sold this May, compared with 105 in 2016.
The average price also rose, from just under $226,000 last year to almost $264,000 in May 2017.
Ulster Board of Realtors Chairman Harris Safier said he expects the uptick in the home resale market to continue.
“The market is so very hot right now that we are probably going to see bigger numbers in July and August for closings, just the number of sales being put together,” Safier said. “The interest rate has dropped down a little bit about two or three weeks ago and they are going back up and the projections are they are going to increase, which I think (is) driving buyers who have been waiting (who) are (now) getting antsy.”
There were some 300 fewer listings available in May than last year and that is another sign of a market with rapid turnover, Safier said.