The overheated Catskills real estate market continues going strong in spring of 2021.
Selling prices are up. Inventory is way down. Any good property priced at what is perceived to be a fair price gets snapped up, often before ever actually hitting the market. Word of mouth is all it seems to take.
The red hot Hudson Valley market continues to boil, but I’m hearing something that bears remembering. It’s the whisper of a trend. Some New York City expats, the ones who left five or ten years ago, are starting to wax nostalgic about the city they left behind. They’re thinking about going back.
And some expats who moved upstate are thinking about moving farther into the country. Their little upstate city is growing too quickly.
The Brooklynization of Kingston and surrounding towns is becoming uncomfortable for some of the city’s residents, even when they’re part of the group that began it.
I do not believe the wave of people moving upstate will end. But I think the ripples are going to spread, and that’s a trend to watch. It’s going to impact prices, but it’s also going to impact communities.