• Wappingers Office
    (845) 297 4700
    (845) 297 8178
  • Lagrange Office
    (845) 485 2700
    (845) 485 2703
  • New Paltz Office
    (845) 255 6163
    (845) 255 6757
  • Commercial Real Estate Division
    (845) 297 4700
    (845) 567 8333

Real Estate Market Trends

Median Down Payment Percentage Reaches 15-Year High

The amount of money that buyers are paying up front on their mortgages is way up, but still might not be as high as you think. Although many people believe in the myth of the 20% down payment, the typical buyer actually puts down far less; in fact, even though the median down payment percentage reached a nearly 15-year high last quarter, it was still just 7.6% of the median sales price! Keep reading to learn more about the changing trends in home financing.

Home Prices Reached a New Record High in May

Have home prices have seemed particularly high to you lately? Don't worry, you aren't imagining things. In fact, existing-home prices surged to a new record high in May, hitting a median of $264,800! As always, the culprit for these rising prices is a severe lack of inventory. If you were thinking of selling, this summer is the time to do it!

Sell in May or June for the Highest Price Premiums

It's a question that's front and center in every home seller's mind: when should I sell? As I've shown before, timing market conditions is not easy and should not be your primary concern when answering this question. However, all else being equal, there are some strong indicators that certain specific times of the year are better when it comes to selling. In fact, you might want to get your home on the market as soon as possible, because a recent study showed that May was the month with the highest average premium on home sale prices!