SPRING AWAKENING IN HUDSON VALLEY REAL ESTATE MARKET

The real estate market is awakening in the Hudson Valley from New York to Albany. With the strong real estate market in Manhattan and surrounding areas, the rural enclaves in the Hudson Valley are seeing the most action in 3 years. During the month of March we closed on 3 properties in northern Dutchess in the Towns of Pine Plains and Stanford and ranging in asking price from $135,000-$450,000.

Good news from the Capital District: Preliminary figures for March show that home sales are continuing to rise in the Capital Region. In 2012, completed sales are up 11 percent from 2011, and pending sales are up 30 percent!

The National Association of Realtors says we’re seeing the continuation of an uneven but higher sales pattern. “The spring home buying season looks bright because of an elevated level of contract offers so far this year.” “If activity is sustained near present levels, existing-home sales will see their best performance in five years. Based on all of the factors in the current market, that’s what we’re expecting with sales rising 7 to 10 percent in 2012.”