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Rural Living is the New Normal

Posted on Fri,Apr 9, 2021Sun,May 12, 2024 by Katherine Kim
TKG Realtor on 38 South Front Street – Say Hello to Carolyn, Victor, Chris, and Paul and everyone there!

Last year during the COVID-19 lockdown in New York, city folks ignited the upstate New York real estate market. People were buying properties, site unseen, driving sales prices up. Bidding wars on rental properties became commonplace in Hudson, NY. Many AirBnB’s required a minimum 30-day stay. As the state reopens and New Yorkers race to get vaccinated, how has this affected the upstate real estate market? Are prices coming down to earth? Are there more rentals available? Are people returning to Brooklyn?

 Kinderhook real estate salesperson, DeWayne Powell of Berkshire Hathaway Home Services, BLAKE Realtors doesn’t think so. “Rural living is the new normal,” says Powell. He reasons, “the shift in the residential real estate market has been anchored by purchases, not short-term renting.” This seems to be a common sentiment among real estate professionals. According to Victor Mendolia of The Kinderhook Group, most of the buyers a year ago during the pandemic were Brooklynites and now they are people who have already been renting in the area for a few years and now prefer to become homeowners. And the Brooklynites who moved upstate in droves during the lockdown? They “seem planted,” observes Mendolia. A number of them “paid top dollar all winter…there’s no going back to the City,” opines Mendolia. 

Windows at TKG Real Estate

And the current state of the market? Is it still on its upward trajectory? Is there still upside potential? There is little if any inventory on the residential side and that includes rentals. “Normally, at this time of the year, the market is flooded with new listings,” says Powell, but inventory is low. “[S]ellers have nowhere to go,” he continues. There is nothing to buy in this area nor in retirement areas like Florida. This makes for an extremely competitive market. Less sales, but higher prices. “Higher offers, cash offers, on-the-spot offers,” says Mendolia. According to the Realtor.com “Hotness Index” the upstate New York real estate market has cooled off a bit. Mendolia corroborates, “things have calmed down a little bit…no more panic moving.” But prices are still rising. In the February housing report from the New York State Association of REALTORS, when comparing February 2020 to February 2021, sale prices are up 22 percent, closed sales are up 24 percent and inventory has shrunk 31.5 percent. One downside to both buyers and sellers is closings tend to take longer “due to the increased workload for everyone necessary in the buying process; title searches, lawyers…banks,” says Christine Jones of The Kinderhook Group.   

With Hudson prices rising both on the sales and rental sides, where is everyone going? Philmont seems to be the “secret hot spot,” whispers Mendolia. A number of his recent sales have been in Philmont and the buyers were not recent transplants but longtime Hudson renters. 

Summer rentals?  “[F]orget snagging a summer rental at a reasonable price,” warns Powell. His recent search on the Columbia County MLS resulted in only three furnished rental properties. Powell informs us that the seasonal rentals that are listed privately start at $100K and eventually those will be gone well before the start of the summer.

Across the board, most real estate professionals believe the market will pick up again once most people are vaccinated. Listings will again flood the market and buyers and sellers will contribute to the swirling activity of the well anticipated “roaring twenties” reopening…

Katherine Kim
katherine@trixieslist.com
Instagram @wanderingberet

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Daniel Rothbart : Plus fugitif que la lumière

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Nobody is nobody, THE ART+WIT of Dot Chast

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“Electric Trees” by Doug Holst at D’Arcy/Simpson Gallery

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Strand Logic: Paintings by Marigold Green

510 Warren Street
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Hudson Valley and international artists alike exhibit at new Chatham gallery in “Friends of Deborah Masters TWO”

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Daniel Rothbart : Plus fugitif que la lumière

The Flow Chart Space

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Nobody is nobody, THE ART+WIT of Dot Chast

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Seen Scenes, member show 2025

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KinderDisco! with DJ Ali Gruber

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“Electric Trees” by Doug Holst at D’Arcy/Simpson Gallery

D'Arcy Simpson Artworks
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Strand Logic: Paintings by Marigold Green

510 Warren Street
7:00 pm

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Fisher Center, LUMA Theater
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Where the Mountain Meets the Sea

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A Midsummer Night’s Dream

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JAWS – Free Outdoor Screening

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Sunny Jain

Spiegeltent at Bard SummerScape
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Daniel Rothbart : Plus fugitif que la lumière

The Flow Chart Space

Create Offsite-Andrew Pellettieri

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Seen Scenes, member show 2025

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“Electric Trees” by Doug Holst at D’Arcy/Simpson Gallery

D'Arcy Simpson Artworks
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Strand Logic: Paintings by Marigold Green

510 Warren Street
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Hudson Valley and international artists alike exhibit at new Chatham gallery in “Friends of Deborah Masters TWO”

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The A-OK Scavenger Hunt

Kinderhook Memorial Library
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510 Warren Street
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Hudson Mile

7:00 pm

Jubilee

Fisher Center, LUMA Theater
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A Midsummer Night’s Dream

Hilltown Commons (formerly Carey Institute)
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Martha Redbone: My Indigenous Soul

Spiegeltent at Bard SummerScape
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Daniel Rothbart : Plus fugitif que la lumière

The Flow Chart Space

Create Offsite-Andrew Pellettieri

Hudson Amtrak Station
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Nobody is nobody, THE ART+WIT of Dot Chast

Gallery@CREATE
11:00 am - 6:00 pm

Seen Scenes, member show 2025

Gallery@CREATE
12:00 pm - 6:00 pm

Strand Logic: Paintings by Marigold Green

510 Warren Street
2:00 pm

Jubilee

Fisher Center, LUMA Theater
2:30 pm

A Midsummer Night’s Dream

Hilltown Commons (formerly Carey Institute)
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Perfect Ten Summer Soirée

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Elisapie

Spiegeltent at Bard SummerScape
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Create Offsite-Andrew Pellettieri

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Create Offsite-Andrew Pellettieri

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Seen Scenes, member show 2025

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Strand Logic: Paintings by Marigold Green

510 Warren Street
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Hudson Hall
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Opening Reception: Hudson Terminus

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Tina Friml featuring Chanel Ali

Spiegeltent at Bard SummerScape
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Hudson Farmers’ Market: Main Outdoor Market 2025

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Water Wars

FASNY Museum of Firefighting
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BBQ POP UP

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Nobody is nobody, THE ART+WIT of Dot Chast

Gallery@CREATE
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Seen Scenes, member show 2025

Gallery@CREATE
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Strand Logic: Paintings by Marigold Green

510 Warren Street
12:00 pm - 5:00 pm

Hudson Valley and international artists alike exhibit at new Chatham gallery in “Friends of Deborah Masters TWO”

3:00 pm - 3:30 pm

Performances: Hudson Terminus

Hudson Hall
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Opening Reception and Performances: Hudson Terminus: Jon Kinzel

Hudson Hall
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Performances: Hudson Terminus

Hudson Hall
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Opening Reception and Performances: Hudson Terminus: Jon Kinzel

Hudson Hall
8:00 pm

OLATUJA

Spiegeltent at Bard SummerScape
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Nobody is nobody, THE ART+WIT of Dot Chast

Gallery@CREATE
11:00 am - 6:00 pm

Seen Scenes, member show 2025

Gallery@CREATE
12:00 pm - 6:00 pm

Strand Logic: Paintings by Marigold Green

510 Warren Street
3:00 pm - 3:30 pm

Performances: Hudson Terminus

Hudson Hall
3:00 pm

Opening Reception and Performances: Hudson Terminus: Jon Kinzel

Hudson Hall
5:00 pm - 5:30 pm

Performances: Hudson Terminus

Hudson Hall
5:00 pm

Opening Reception and Performances: Hudson Terminus: Jon Kinzel

Hudson Hall
6:00 pm

Stud Country

Spiegeltent at Bard SummerScape
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Union Street Brewing Company: Trivia Night

Union Street Brewing Company
Events for 22nd July
4:00 pm

Little Wonders Storytime

Hudson Area Library
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7:00 pm

Michael Daves & Jacob Jolliff

Spiegeltent at Bard SummerScape
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South: A Nautical Musical

Bridge Street Theatre
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Seen Scenes, member show 2025

Gallery@CREATE
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Strand Logic: Paintings by Marigold Green

510 Warren Street
6:30 pm - 9:30 pm

Dalibor

Fisher Center, Sosnoff Theater
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South: A Nautical Musical

Bridge Street Theatre
8:00 pm

Susanne Bartsch presents New York, New York!

Spiegeltent at Bard SummerScape
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Lauren Weedman: When the Titanic Sank They Still Played Music

Park Theater
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Hudson Farmers’ Market: Main Outdoor Market 2025

Hudson Farmers' Market
11:00 am - 6:00 pm

Seen Scenes, member show 2025

Gallery@CREATE
12:00 pm - 6:00 pm

Strand Logic: Paintings by Marigold Green

510 Warren Street
7:30 pm - 9:30 pm

South: A Nautical Musical

Bridge Street Theatre
8:00 pm

Susanne Bartsch presents New York, New York!

Spiegeltent at Bard SummerScape
27
28
29
30
31
1
2
Events for 27th July
11:00 am - 6:00 pm

Seen Scenes, member show 2025

Gallery@CREATE
12:00 pm - 6:00 pm

Strand Logic: Paintings by Marigold Green

510 Warren Street
2:00 pm - 5:00 pm

Dalibor

Fisher Center, Sosnoff Theater
2:00 pm - 4:00 pm

South: A Nautical Musical

Bridge Street Theatre
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Union Street Brewing Company: Trivia Night

Union Street Brewing Company
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No Events
Events for 30th July
2:00 pm - 5:00 pm

Dalibor

Fisher Center, Sosnoff Theater
Events for 31st July
7:00 pm

Alison Brown Quintet

Spiegeltent at Bard SummerScape
7:30 pm - 9:30 pm

South: A Nautical Musical

Bridge Street Theatre
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4:00 pm - 7:00 pm

Dalibor

Fisher Center, Sosnoff Theater
7:30 pm - 9:30 pm

South: A Nautical Musical

Bridge Street Theatre
8:00 pm

Juno Birch: The Probed Tour

Spiegeltent at Bard SummerScape
Events for 2nd August
9:00 am - 1:00 pm

Hudson Farmers’ Market: Main Outdoor Market 2025

Hudson Farmers' Market

FREE Women’s Walking Group!

Hudson Area Library
6:30 pm - 10:30 pm

Ancram Center’s 10th Anniversary Bash

The Farm at Pond Lily
7:00 pm - 9:00 pm

From the Hooghly to the Hudson: Eric Fraser

Hudson Hall
7:30 pm - 9:30 pm

South: A Nautical Musical

Bridge Street Theatre
8:00 pm

Juno Birch: The Probed Tour

Spiegeltent at Bard SummerScape
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