Superintendent Podcast: Real Estate Market Trends with Don Dwyer
All signs point towards families wanting to live into the Hendrick Hudson School District, according to current real estate trends.
That was a major takeaway from a recent superintendent interview with local realtor and Hen Hud parent Don Dwyer. Superintendent Joseph Hochreiter asked Dwyer about the state of the housing market in light of many different factors, including the decommissioning of Indian Point and concluded that “Don has brought good news if you are a seller!”
Among the key trends Dwyer shared:
- Median sales prices have increased since 2018, with a $60,000 jump in just in the past year.
- Inventory is very tight and demand is high. Pending sales are way up, as are closed sales over the past year.
- The number of days houses are on the market is down 50% from 2018.
- “Foot traffic is much higher, as well,” said Dwyer. “There are ten more people looking at every house on the market, just in the past year. Showings per listing are up 100% over last year.”
- Interest rates are expected to stay low for the next six months to a year.
There are still a number of unknown factors as we look ahead to the next year. According to Dwyer, the influx of people moving here from New York City is slowing down, as the city’s real estate market has largely rebounded from COVID.
Hochreiter said that before the pandemic, and three years after Indian Point announced its closure, our area was very desirable. “The good news is that there is a captive audience of buyers for our area, valuations are only going up, and people want to be here. My phone continues to ring with families asking about our school district.”
He also noted that residents who don’t have children in the school district choose to remain here because of a great quality of life and low taxes. “However, if they decide want to sell, there are a lot of people who want to be here.”
Listen to the interview here.