WGXC-90.7 FM

House prices in the Hudson Valley continue to rise

Mar 03, 2022 1:00 am

Roger Hannigan Gilson is reporting for the Times Union the price of homes in the Hudson Valley continued to increase through 2021, according to a new report from Hudson Valley Pattern for Progress. People are moving to the Hudson Valley in extraordinary numbers, especially from the New York metropolitan area, and there are not enough homes for sale to meet the demand. Every county in the region except Sullivan was considered a seller's market in 2021, according to the report. The total inventory in the Hudson Valley in 2021 was about half of what it was in 2019, according to the report. Pattern for Progress reported that Columbia County had 4.1 months of inventory at the end of 2021, a year in which the average sales price jumped nearly 18 percent. In Greene County, there was only 3.9 months of inventory, with home prices rising almost 20 percent. Home prices in Ulster County jumped nearly 20 percent, with only 2.8 months of inventory. In Dutchess County, prices rose 15 percent with 2.1 months of inventory. The report notes that the average home price rose nearly $50,000 in the last year in the nine counties in the Hudson Valley; sales prices in the mid and upper-Hudson Valley were far above the peak during the mid-2000s housing bubble. According to the report, rising mortgage interest rates could weaken the surge. In December 2020, the rate for a 30-year loan was 2.65 percent, but it has since risen to 3.56 percent. The report asserts that housing prices in the region will continue to rise in 2022, but at a slower rate than in 2021. Read the full story in the Times Union.

Wave Farm / WGXC Acra Contact Info
Mailing: PO Box 13 Acra, NY 12405
Main Office / Acra Studio
(518) 622-2598
WGXC Office
(518) 697-7400
WGXC Hudson Studio
(518) 828-0290
WGXC Feedback
(518) 212-7509 feedback@wgxc.org
Wave Farm / WGXC Acra Studio: 5662 Route 23 Acra, NY 12405
WGXC Hudson Studio: 369 Warren St. Hudson, NY 12534