moments | life, a little bit at a time market fresh “For now, it’s still
a sellers’ market,” says Berkshire Hathaway’s Tim Sweeney; A two-story contemporary at 49 Sky Top Road in Copake is selling for $2.795 million listed with Corcoran Country Living.
“After COVID, a lot of people moved up here full time and now they’re bringing their friends and family,” she says. “It’s really four seasons here—we’re not the E SC R OW Hamptons.” Before winter weather comes and snowy landscapes dampen a luxury home’s appeal, they’re photo-shooting 15 homes and prepping them now to go on the market in early 2024, Morris says. “We’ve never had that many.” As inventory begins to tick up, In Litchfield County, the “strong prices may actually drop. Connecticut towns are Salisbury/Sharon/ Lakeville and Washington/Roxbury,” By Bill Cary she says. “In Columbia, it’s Ancram, Photography by Walker Esner Ancramdale, Copake and Hillsdale while the Berkshires always remain strong.” Hudson continues to shine as well. I was there a couple of weeks ago for lunch, and I’m still amazed at the turnaround from the dark days of the 1980s and ’90s. The current market in Hudson is “very, very healthy, a little slower than during the craziness of COVID, when people were buying houses over the phone,” says Jeb Hart, an agent with Corcoran Country Living who splits his time between homes in Chatham and Brooklyn. “It has So what’s in store in 2024? How will i keep thinking it’s been a decidedly calmed down. If a home is priced right, the real estate market perform? I’m still sluggish real estate market so far this it will sell very, very quickly. There’s still skeptical, mainly because of interest rates year. Indeed, the number of year-to-date a tremendous demand. Being close to and inventory shortages, but many agents closings in my home county of Ulster is Warren Street is always the goal, and close are hopeful about a turnaround. down 23 percent compared to the same to the riverfront train station. period in 2022 (923 vs. 1,201 in I’d say the sweet spot is in the mid-October). “If you have 100 people coming to $800,000s. The average sales are Similarly, in the mid-Hudson buy property in the Hudson Valley, in the $500,000s and there’s great Valley market (Dutchess, only a handful of them want to inventory in the $700,000s. Columbia, Greene and Ulster), It’s a very specific buyer for closings are down 22 percent be in the cities of Kingston, Hudson, says Raj Kumar, an agent compared to last year (4,990 vs. Hudson or Catskill. The typical with Four Seasons Sotheby’s 3,899 in mid-October). buyer wants more land.” International Realty. “If you But because inventory has been have 100 people coming to buy so low, prices have ticked up a property in the Hudson Valley, only a bit. The year-to-date average sale price in “I’m very optimistic,” says Elyse Harney handful of them want to be in the cities of Ulster this year is $501,000 compared to Morris, broker/owner, Elyse Harney Real Kingston, Hudson or Catskill. The typical $474,000 in 2022. Estate in Salisbury, CT. Buyers are paying buyer wants more land. Hudson is like an “We’re seeing buyer fatigue,” says Tim full price or perhaps four percent less than urban environment in the middle of the Sweeney, broker/owner, Berkshire Hathaway asking. She recently listed a $795,000 countryside. I have 35 acres and horses Home Services Nutshell Realty in High Falls. house in Lakeville on a Saturday and had a and I’m six minutes outside of the city.” “People are sick of losing out on properties.” contract at full price the next day.
The Real State Of Real Estate
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Win te r 2024 | The Hol i d ay s & B eyond
