The latest quarterly numbers on the Hudson Valley real estate market are out and illustrate how low inventory is driving the market in some interesting directions. In Putnam County it's good news for sellers. Sales are up over 7% for the last quarter and prices are up over 9%. You can read the whole report below.
Market Report
There is a lot going on in the Cold Spring real estate market. Lots of deals being done but not a lot of new homes hitting the market. Of note this week was the price reduction on 22 Dry Pond Road. Previously listed at $320,000, the property is now available at $299,000.00. It's a fixer-upper, but a really rare opportunity to get a home at this price point. Prices in Cold Spring are going up, not down. This is a hot property.
22 Dry Pond
Below is a link to a 2010 NY Times real estate article about Garrison, NY
2010 Garrison
And here is a link to a NY Times piece 8 years later.
2018 Garrison
Lots of people are talking about the development of new residential housing in Beacon. Several hundred rental units in the pipeline are sure to alter the residential landscape for developers and those looking for a rental. The Highlands Current has a great overview in this week's issue.
Beacon Real Estate
The last market report for Pawling shows prices are up over 25%. And that's only counting closed sales. Inventory is down 26%. The median sale price is $300,000.00
The Village of Cold Spring is one of the hottest real estate markets in the country. Over the last 12 months prices have increased nearly 40%. The median sale price in the village has jumped from $429,000.00 to $598,959.00 during this time period. Low inventory is helping drive the price jump. New listings are down 25%
Now you know.
Join us Saturday, March 3, from 4-6 at the McCaffrey Office in Cold Spring for the wildlife photography of Diane and Bob Nobile. Wine, cheese, and wildlife! When Bob isn't shooting bobcats, with a camera, he works as a realtor out of our office at 140 Main Street.
The latest numbers from the National Association of Realtors show our area is the 3rd hottest real estate market in the country.
From Bloomberg News: Market News
