Strong New York Housing Market Continues Through October

As the weather gets colder, the New York housing market continues to heat up. Sales remained at higher than normal levels amid continued low inventory across the Empire State

Albany, NY – November 19, 2020 – As the weather gets colder, the New York housing market continues to heat up. Sales remained at higher than normal levels amid continued low inventory across the Empire State, according to the housing report released today by the New York State Association of REALTORS^®.

Closed sales in New York State continued to be robust, jumping 16.6 percent from 12,853 units in October 2019 to 14,981 last month. Pending sales skyrocketed to 16,333 homes – a 38.8 percent increase from the 11,766 total in October of last year. Year-to-date, pending sales are also up 6 percent in 2020 with 126,681 homes compared to 119,462 in 2019. New listings were also on the rise, up 9.7 percent for October – from 16,732 units in 2019 to 18,359 in 2020.

Housing inventory remained low through October. The 51,351 units represented a 20.9 percent decrease compared to 64,930 homes last year at the same time. Months supply of inventory dropped 23.2 percent – from 5.6 months to 4.3 months.

The median sales price in the Empire State surged 24.5 percent in October, from $273,000 to $340,000 in year-over-year comparisons. The average sales price also jumped from $362,572 to $441,020 – an increase of 21.6 percent compared to this time last year.

Low mortgage rates helped maintain the strong housing market in October. According to Freddie Mac, the monthly average on a 30-year fixed rate mortgage in October fell to 2.83 percent. This is the eleventh consecutive month the average monthly rate has decreased.

Data and analysis compiled for the New York State Association of REALTORS^® by Showing Time Inc.

Jeff McKinney is an Associate Real Estate Broker in Columbia County, NY (Beach & Bartolo Realtors ~ 34 Main St., Chatham NY 12037 ~ 518-392-2700). Connect with him on Twitter, Instagram, LinkedIn, or Pinterest.

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Great Article in The New York Times About People Moving North of NYC: ‘Forget the Suburbs, It’s Country or Bust’

There was a great article in the December 14, 2018, Real Estate section of The New York Times, titled Forget the Suburbs, It’s Country or Bust by Brooke Lea Foster. The article takes a look at people who have left the city, and in many cases Brooklyn, behind and moved north.

There was a great article in the December 14, 2018, Real Estate section of The New York Times, titled Forget the Suburbs, It’s Country or Bust by Brooke Lea Foster. The article takes a look at people who have left the city, and in many cases Brooklyn, behind and moved north.

Here are the first few paragraphs of the article:

Forget the Suburbs, It’s Country or Bust

For some New Yorkers, being priced out of the city means it’s time to move to the woods.

Former Park Slope residents Steven Weinberg and Casey Scieszka bought and renovated an aging motel and farmhouse in the Catskills, where they now live with baby Amina. In the kitchen, they repurposed an antique barn door as an island countertop. CreditCreditTony Cenicola/The New York Times

By Brooke Lea Foster

When Casey Scieszka, a freelance writer, and her husband, Steven Weinberg, a children’s book writer and illustrator, decided to leave Park Slope, Brooklyn, they didn’t consider the New York suburbs, where the yards were too small and the property too pricey. Instead, they moved to a house five miles down a dirt road — in the Catskills.

If you’re surprised to hear that two city-based creatives gave up their urban roots for life in the country, so were their families. Perhaps no one was more shocked than Mr. Weinberg’s grandmother and a friend of hers who once vacationed near the young couple’s new home in West Kill, N.Y. “The Catskills are over,” the friend said with concern.

Mr. Weinberg, 34, politely responded: “But you haven’t been there in 40 years. It’s different now.”

One could say the same for many of the rural hamlets, lush valleys and charming Main Streets of upstate New York: They’re changing, thanks to a wave of city folks moving in. Sure, the hemlock trees are still towering, the mountain ranges still majestic and the streams still rushing, but telecommuting has inspired a new crop of people to move to these sometimes wild, sometimes walkable and sometimes wide-open spaces. Priced out of the city, but armed with the possibility of working at home, some New Yorkers are willing to trade their walk to work for a walk in the woods.

“If you want to live on five acres, that’s never going to happen in the suburbs, so some people are looking farther,” said Jessica Fields, a real estate agent for Compass in Park Slope. In 2014, she founded Beyond Brooklyn, which helps people who want to leave the city figure out where to go.

She and her husband considered moving their family to Ulster County seven years ago — and while that is not entirely off the table, they are staying in Brooklyn for now. “We know so many people who have moved upstate or are curious about moving there. It attracts the people that want to be outside and make their own kombucha, but still want to stay connected to arts and culture.”

A 2018 StreetEasy report showed that when New Yorkers move within the tristate area, 6 percent go to Westchester and Rockland counties, while 12 percent wind up in New York counties north of there. (For comparison’s sake, 9 percent move to Long Island and 13 percent to New Jersey, whether to urban Hudson County or beyond.) Residents of the Bronx and Staten Island are most likely to move upstate (17 percent), followed by Brooklynites (12 percent).

Visit the New York Times here, to continue reading.

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Jeff McKinney is a Realtor in Columbia County, NY. Connect with him on Twitter, Instagram, LinkedIn, or Pinterest.

Interesting Article About The Berkshires in The New York Times

There was a very interesting article in the April 13, 2018, issue of The New York Times. The article, titled “Betting on the Berkshires” by Tim McKeough, took a look at the Real Estate happenings, economic developments, and potential of Berkshire County.

There was a very interesting article in the April 13, 2018, issue of The New York Times. The article, titled “Betting on the Berkshires” by Tim McKeough, takes a look at the Real Estate happenings, economic developments, and potential of Berkshire County. The article gives us a great overview of ongoing activity taking place in the northern Berkshire towns like North Adams.

Here are the first few paragraphs of McKeough’s article:

When the partners behind Tourists, a boutique hotel under construction in North Adams, Mass., invited the celebrated San Francisco-based chef Cortney Burns to open a restaurant at their establishment, her first impulse was to say no.

“I had no reason to go to the East Coast. I had one restaurant I was closing, one I had just opened and another I was just about to sign the lease on,” said Ms. Burns, 38, a James Beard Foundation Award winner who was co-chef at Bar Tartine in San Francisco before opening Duna, both with Nicolaus Balla. “So by no means did I find myself free.”

However, after agreeing to visit North Adams, a former manufacturing town of brick industrial buildings ringed by rolling green hills in Berkshire County, to discuss a possible consulting role, she found it impossible to leave.

“What I saw here was this beautiful confluence of nature, culture, solitude and such a deep historical story,” Ms. Burns said. “It was one of those open doors that I felt like I would be a fool to not walk through.”

The article also discusses some recent real estate transactions, new development projects in Great Barrington, and new restaurants in the region. If you haven’t read the full article yet, click here, and check it out. Its a great read.

For more local happenings, news, and events, follow ColumbiaCountyCurrent.com on twitter @CoCoCurrent.

Jeff McKinney is a Realtor in Columbia County, NY. Connect with him on Twitter, Instagram, LinkedIn, or Pinterest.

A Contemporary Retreat in Ghent, NY

This former country cottage has been transformed into a stylish, contemporary retreat. Architecturally designed additions and full renovations include a spacious Living Room with wood-burning fireplace, and painted brick surround. The sun-filled room also features an angled window seat that “floats” outside of the house to bring you closer to the surrounding gardens.

Screened porch on rear of the house, viewed from backyard

MALLORY Rd. GHENT, NY 12075
Beds: 3
Baths: 2
Sq. Ft.: 1,800
Lot Sz: 2.635 acres
$349,000

The new Eat-In Kitchen features a center island with KitchenAid oven & gas stove top. The island has plenty of room to sit at, or stand around, so it’s perfect for cooking & entertaining. Walls of windows, and skylights continue the home’s theme of bringing the outdoors in.

Ample closets are located throughout house, and there is a walk-through Pantry off the kitchen.

Two glass pocket doors lead to the Sunroom, which has a wall of Built-Ins, and three walls of windows.

The home has 3 bedrooms, including the Master Bedroom, which has a bright and spacious bathroom. The master bath includes upgrades like the bidet and a tiled shower. The master bedroom also has two closets, one of which is a custom walk-in with it’s own window.

The entire house wraps around the Multi-Leveled Deck with an elevated Screened Porch at one end, and a lower level connecting to a stone patio that leads to the secluded backyard, which is surrounded by woods.

This Mallory Rd., property provides a quiet & private setting while still being a short drive to the Village of Chatham, Hudson & the Berkshires. Two hours from NYC or Boston, and just a few minutes drive to Hawthorne Valley School.

For more information, additional photographs, or to schedule a showing, visit the Beach & Bartolo listing page by Clicking Here.

For more local happenings, news, and events, follow ColumbiaCountyCurrent.com on twitter @CoCoCurrent.

Jeff McKinney is a Realtor in Columbia County, NY. Connect with him on Twitter, Instagram, LinkedIn, or Pinterest.

A Classic Midcentury Ranch w/ Income Potential in East Chatham

This classic 3-bedroom, 2-bath Ranch on nearly 3 acres in East Chatham has multiple surprises. There’s a roomy suite with separate entrance, bedroom, full bath, living room and kitchen. This suite is ready to use as an AirBnB rental, or guest suite. It could also be converted into a large master suite.

The home’s main living area features a large living room with a wood-burning fireplace, and newly refinished wood floors. The home’s Eat-In Kitchen features original vintage 1960’s counters and cabinets that are all in perfect condition. The kitchen also has a distinctive wood-burning stove in a multi-toned brick corner hearth. There are also two bedrooms, a bathroom, and a bonus room, that could be an office or additional bedroom.

A mudroom connects the expansive garage to the kitchen, backyard, and laundry area. Mature trees in the front yard create a secluded appearance, while the large backyard is completely private with surrounding woods that can be enjoyed from the 3-season porch.

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The home is just a few minutes away from Chatham’s restaurants, shops, and more. Plus, it’s a short drive to Hudson, the Berkshires, and an easy Albany commute. At roughly 2 hours from New York City and Boston, this home is also great for weekenders.

Beds: 3
Baths: 2
Sq. Ft.: 2,014
School District: Chatham

The house is offered at $289,000. If you’d like to see it in person, email me at Jmckinney@BeachandBartolo.com.

For more pictures and additional info, check out the listing on BeachandBartolo.com by clicking here.

Jeff McKinney is a Realtor in Columbia County, NY (Beach & Bartolo Realtors ~ 34 Main St., Chatham NY 12037 ~ 518-392-2700). Connect with him on Twitter, Instagram, LinkedIn, or Pinterest.

For more local happenings, news, and events, follow ColumbiaCountyCurrent.com on twitter @CoCoCurrent.