Like the Hamptons, summer retreat towns in northern Westchester are seeing their rental markets gain strength for the first time since the downturn, according to the New York Times. Towns like Bedford and Pound Ridge are seeing increased activity from renters, who prefer the more private, lower-key semirural towns to the paparazzi-and-traffic-laden options on Long Island’s East End.
Rentals in the area range from $35,000 to $120,000 for the season. While there is no way to know how many houses are being acquired for vacation use, the increased sales — up to 972 homes through March of this year in Bedford, compared to 742 through the same period a year ago — point to increased interest in the area (although The Real Deal previously reported, some attribute the county-wide sales uptick to increased inventory). Brokers from Houlihan Lawrence and Vincent & Whittemore Real Estate also testified to more rental market activity.
Like with the Hamptons, a mild winter spurred vacationers to get an early start on their upstate summer home hunts, brokers say. [NYT]