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Ulster County Home Sales Down in August, Median Price Up

September 18, 2010 By Ulster Real Estate Leave a Comment

In August 2010, 83 single-family homes were reported as sold in the Ulster County MLS.  In contract, in August 2009, 99 single family homes were sold.  Coincidentally, 83 homes sold in Ulster County in July 2010, so there wasn’t any month to month change–just a year-over-year drop.

The good news for the real estate market was that the median price jumped in August 2010 when compared to August 2009 and July 2010.  The median price was $230,000 for August 2010, $224,000 for July 2010 and $205,000 in August 2009.

Ulster County home sales last month ranged from a $55,000 home in the Town of Rochester to a $1.15 million home in Woodstock.

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Village of Ellenville Property Tax Assessments Lead It to Seek Status as City

September 2, 2010 By Ulster Real Estate Leave a Comment

The Village of Ellenville is at odds with the Town of Wawarsing over assessed values and is seeking to achieve status as a city in order to complete a re-valuation.  As a Village, Ellenville cannot dictate the assessed values of properties contained in its jurisdiction and instead must defer to the Town of Wawarsing.  The Town of Wawarsing has not re-assessed properties in recent memory.

As a result, Ellenville is seeking to become a city in order to control its own destiny.  Village residents are not happy with property taxes that they feel are disproportionate and excessive due to ancient assessed values.

It will be an uphill battle for Ellenville to be granted status as a city since the last city that was incorporated in New York was Rye in 1942.  This is yet another occasion Ulster County where residents have struggled to keep pace with rising property taxes.

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Buying Plans for New York Residents Bottom Out

September 2, 2010 By Ulster Real Estate Leave a Comment

Siena Research Institute has published it’s monthly report on consumer confidence and the results revealed that fewer New Yorkers have plans to purchase a home than last year.  Only 2% of residents polled indicated that they have home buying plans.  The August 2010 2% figure is down 1.5% from 2009.  Furthermore, 2% marks the lowest percentage of those polled since Siena began tracking home buyer intentions.

Recent economic figures and sold homes data point to a slowing Ulster County real estate market the end of this summer.  It is still a great time to purchase a home in Ulster County with record low interest rates, motivated sellers and generous price reductions.

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