Leading the Pack

Berkshire Hathaway Home Services Hudson Valley Properties (BHHSHVP) continues as the market leader in Dutchess and Ulster Counties. In 2019, BHHSHVP claimed 23% market share in Dutchess by transactions and 22.5% by dollar volume. Sandi's office in LaGrangeville is the top brokerage in dollar and transaction volume of all brokerages in Dutchess County. Beautiful Rhinebeck, which houses Sandi's satellite office, is the number one office in Rhinebeck in dollar volume and units sold. Go, team! Combine the top brokerage firm with Sandi Park, a multi-year President's Circle Award recipient, and you've got a powerhouse working for you!

$500

To celebrate another year as market leader, Sandi is gifting a $500 credit for closings through her for the remainder of the year. Feel free to share the attached coupon with those in need of a trusted real estate partner.  < Get $500 Credit Coupon>

I saw a little sign and a lot of dirt. I couldn't help myself; this combo gets me excited. I had to snoop into what this whole Bellefield at Historic Hyde Park project on Route 9 is about.  Curious, too? < Read the article >

How's the Market?

Sandi's Crunch

Sandi's custom market analysis is now available for The Brick subscribers. Dutchess County in general and several individual towns are represented. Particular towns of focus beyond the county report have been requested by the subscriber base. This analysis has grown over time and Sandi will continue to add as requested. If there is a town of particular interest that is not included, contact Sandi.

Important to note: The numbers in the analysis are culled from the Mid-Hudson multiple listing service ("MLS"). Off-market sales are not reported in the MLS, so inventory and dollar volume sold may not be fully represented. Off-market sales known to Sandi have been acknowledged on their respective report.

View Sandi's Market Momentum Reports

  If you are reading this in mobile format, scroll down for additional performance stats by State and County.

FEATURED LISTINGS

The Gardens @ Rhinebeck

Phase II Model Unit for Sale

Retreat to simple, yet refined living in this Phase II MODEL available in The Gardens at Rhinebeck. 2 bedrooms, 2.5 bath with loft, fully upgraded, professionally decorated and impeccably maintained. Lightly used as a weekend retreat. Better than new without the new price tag! $408,399. See full listing or contact Sandi for more details.

Premier Builder Personal Residence for Sale - Wappingers Falls

It is a rare treat when the personal residence of a premier custom builder comes on the market. Not a detail has been spared and it is offered at a highly favorable price point for the quality, location, extensive upgrades and customizations. $724,900.  See full listing.

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SLEIGHT FARM SUBDIVISION

Dave Stenger of LMD Homes is going for the sweet spot with his latest phase offerings in the Sleight Farm subdivision located in the Town of LaGrange, Arlington schools. Unheard of for new construction in Dutchess County of late, the opportunity exists to buy new construction with a quality builder starting at $304,900 in LMD's latest subdivision, The Glens. The build is underway with sixty new homes slated for construction. Want more square footage and base options? Move over to The Estates, also within the Sleight Farm subdivision, starting at $439,900, with thirty home sites available. Contact Sandi for more information.

State and Dutchess County Market Performance

With a strong economy in 2019 came an inventory squeeze as more buyers pursued their dream homes. According to New York State Association of Realtors (NYSAR), inventory fell 8.4% to 56,214 units compared to 2018. Low inventory continued to push median sales prices up, climbing 7.4% to $290,000 compared to 2018. According to sales in the Mid-Hudson multiple listing service for single family detached (mobile homes not included), Dutchess County inventory was down 2% from 2018. Sales volume in Dutchess was down 3% in 2019 compared to 2018. The median price rose from $281,500 in 2018 to $300,000 in 2019. Buyer demand remains high and economic indicators predict buying activity will remain largely positive in 2020. More listings and new home builds are anticipated in 2020, which could help to increase affordability and offset rising prices. Mortgage rates were down the last week of January, 2020.

With the exception of 2017, when Poughkeepsie marginally surpassed East Fishkill in dollar volume, East Fishkill has held market leader status over the past five years. That being said, East Fishkill was down 15.78% in dollar volume; the highest percentage decrease in the County compared to 2018. Inventory was also markedly down in East Fishkill by 15% in 2019 compared to 2018. Shielded from the inventory squeeze was the $400,000 to $450,000 price range - up 37% from 2018. While the County enjoyed a 3% increase in median price from 2018 to 2019, the median home price shifted slightly downward in East Fishkill, from $386,625 in 2018 to $383,595 in 2019. Conversely, neighboring Fishkill was up from a median sale price of $290,500 in 2018 to $330,000 in 2019. The Town of Beekman is also up in median price from $330,000 in 2018 to $355,000 in 2019. The Town of Wappingers was a solid 2019 performer in the $300,000 to $500,000 range for single family detached, but felt the inventory squeeze in the $500,000-$550,000 price range - down a whooping 73% from 2018. The sweet aroma of opportunity! There are more than a few builders on this list. Grab a shovel and meet me in Wappingers. Let's sell some houses! See Sandi's market momentum reports for more.

Click on the year desired for sales by township for the past three years (these are not the market momentum reports):

2017 , 2018 and 2019.

Land Assemblage Opportunity

Located just two miles off the Taconic Parkway/Beekman Road exit on Sylvan Lake Road in Hopewell Junction. Town of Beekman. Arlington schools.

The parcels are 69 and 79 acres each. They are offered for purchase together or separate. The 69 acre flag lot parcel is pictured and on video below. This parcel had prior 20 lot preliminary subdivision approval with extensive engineering available. The adjoining 79 acre parcel should deliver approximately 28 lots. Both parcels have frontage on Sylvan Lake Road. The Town of Beekman has a floating PUD for potential density in an area ripe for transformation.

For more information, Contact Sandi.

69 acre parcel pictured. 79 acre parcel borders the side of pole out and also behind the flag.

News Around Town

VASSAR BROTHERS MEDICAL CENTER

Word has it Vassar Brothers Medical Center in Poughkeepsie has moved their ribbon cutting for the new Pavilion from April to June. This multi million dollar hospital extension means inbound hospital residents and interns by the hundreds over the next three years, in particular. Areas in and around Poughkeepsie have been noticing the influx already which could create further inventory issues if supply does not soon equalize with demand. Aside from home sales, luxury apartment options are at minimum in the surrounding area of Poughkeepsie, and Dutchess County in general. The few true luxury apartment communities in Dutchess routinely enjoy long wait lists of qualified tenants. Something to ponder. Should there be interest in a market study on the rental market in Dutchess, reach out to Sandi.

One of the topics on tap for next issue....

Red Hook versus Rhinebeck - With only five miles between village centers, how much different can they be?

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Want your project considered for feature? Have a suggestion for content you'd like to see? Let Sandi know!

Website: www.hudsonvalleynest.com COMING SOON!

Last, but certainly not least, editorial gratitude to JP and Molly. It takes a village. ;)