Rockland County Real Estate Market Heats Up

By Yehudit Garmaise

     Now is a great time to invest in homes in Rockland County, but Boro Parkers who dream about having more space in which to live should act fast because prices are going up, according to Meyer Tauber, the owner of both Metrex Equities and Metrex Realty, two companies that sell and rent properties in the area.

     Even in the bubbling suburban real estate market, Mr. Tauber said, “For the price that you could buy a house in Boro Park, in Rockland County, you could buy two such houses.”

     Rockland County, which has the largest Jewish population per capita of any county in the U.S., is home to 90,000 Yidden, who comprise 31.4% of the county’s population.

     Although fewer houses went on the market in Rockland County in 2020 than just five years ago, in 2016, 20% more houses went under contract: a phenomenon Mr. Tauber attributed to the COVID pandemic.

     “Prices went up a lot this year because when COVID hit, people were scared to live in close quarters, and they were scared to live in the city,” said Mr. Tauber, who loves living in New Hempstead. “So, what happened was: people started moving out to suburban areas.

     “The house sales that closed in Rockland County in 2020 saw a 12% increase, which is just an astronomical figure.”

     Plus, Mr. Tauber explained, “96% of houses on the market got full asking price or above.”

     What many New Yorkers may fear the arduous commutes that life in the suburbs may bring, Mr. Tauber, who grew up in Williamsburg, said that he would not trade anything for the quality of life up north.

     In particular, Mr. Tauber touts, “the nicer types of the houses, the serenity, the privacy, the grass, the front yards, and the backyards. 

    “The kids have places to play, you have parking, and you don’t have to circle the block. You have your own driveway.

     “It is a beautiful neighborhood. Every morning, after waking up, for five minutes, I got out on my porch with coffee in my private backyard.

    “On Shabbos, or on weekdays, you walk around beautiful tree-lined street with houses that have lawns.

     “It is amazing.”

      In Rockland County, the eight heimish neighborhoods in which Mr. Tauber have seen “exponential growth” in the past five years are: Airmont, Chestnut Ridge, New Hempstead, Pomona, Spring Valley, Suffern, Wesley Hills, and Ramapo, which includes the greater Monsey area.

     In Monsey in 2020, for instance, 139 houses were on the market, but only 50 ended up selling, however this year has already shown a 15% increase in sales. Of the 118 houses that were on the market, 88 have already been sold, and prices are inching upward.

     “While the average sales price in Monsey last year was $575,000, this year, prices have already gone up 13% to $651,000,” Mr. Tauber said.

     No matter which neighborhood appeals to buyers: and there is something for everyone, good deals can always be found, explained Mr. Tauber, who provides crucial insider advice to potential buyers: Never hire multiple agents at one time.

     “Focus and stay with one agent so that he or she will work hard for you,” Mr. Tauber said. “Otherwise, agents will focus on the buyers who are loyal to them.

     “This is key advice is today’s market.”

      What is the market in Monsey like now that the pandemic is, iyH, becoming a distant memory?

     “A lot of buyers want to buy, and the inventory can be low, so what happens is, you have a lot of people fighting for the same houses,” Mr. Tauber explained. “But, buyers always end up finding their homes, and at the end of the day, everyone is very happy.

     “There are a lot of options out there. You just have to reach out to the right agents to guide you.”

     “How can people identify the best agents?” BoroPark24 asked.

     “Usually by referrals,” he explained. “You ask people you know who bought their homes, and you see who they used. Ask your friends whether they were happy with their Realtors, and write down their names.”

     Looking at reviews online is another way to research real estate agents, Mr. Tauber said.

     “Like in every industry: people can identify good providers of goods and services by seeing what other customers said about them,” he added.

     Is now a good time to buy?

     “It is always a good time to buy,” Mr. Tauber reassured. “There are always good deals. By waiting, my experience tells me: prices will only go up.”