Demand for Hudson Valley homes expected to remain strong — and supply short

Prices in Dutchess County rose 30 percent in 2020

Vanderbilt Mansion in Hyde Park. (Dutchess Tourism)
Vanderbilt Mansion in Hyde Park (Dutchess Tourism)

The New York State Association of Realtors believes that buyer demand will remain strong and supply short for homes in the Hudson Valley, according to the Hudson Valley Post.

Home prices have steadily increased in the area since early last summer when authorities lifted restrictions on real estate showings. Continued demand and short supply means pricing will likely continue to increase.

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The median sales price in Columbia County rose 13.6 percent over the course of 2020, reaching $302,500, according to the trade group. Prices in Dutchess County were up 30.3 percent year-over-year in January, reaching $358,250. Demand for commercial space in the Hudson Valley is also rising.

[Hudson Valley Post] — Dennis Lynch

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