If you’ve been considering selling your home in order to move to a retirement community, the market shows that now is a better time than ever to do so.
The Hudson Valley has been gaining popularity in waves over the last decade, mostly due to its proximity to New York City while still hosting spacious homes and a natural setting. In light of the pandemic this year, those same reasons have made the mid-Hudson region more popular than ever.
According to local real estate professionals, city residents seeking less densely populated areas and comparatively-low mortgage rates have driven up local home sales, especially since mid-June when state officials relaxed restrictions on rules for showing homes. Such strong demand sent Ulster County’s median home price soaring 33% to $308,569 this spring. Lower supply and increased demand helped elevate the median sale prices during Q2 in both Westchester, by 3.6%, and Dutchess, by 8.2%, as well.
All of this points to a hot seller’s market in the Hudson Valley right now. So, if you’ve been considering selling your home to move to a retirement community, now is the best time to do it.
New Yorkers, many now working remotely and no longer needing to be in the city on a regular basis, are attracted to the area for its proximity to fresh air and property sizes. Houlihan Lawrence saw a huge wave of inquiries into single-family homes with an emphasis on home offices and outdoor amenities. As the shutdown continued, more of the workforce embraced working from home as a reality, even if only for part of the time.
According to the Times-Herald Record, an Ulster-based real estate broker saw 439 home sales in Ulster County between May 1 and June 30 in 2019. This year, the same broker is seeing potential for 700-plus sales.
“Buyers continue to flock to our listings and showings are robust. Multiple bid situations are not uncommon for properly priced homes and the previously softer high end of the market has renewed vigor,” said Elizabeth Nunan, President and CEO, Houlihan Lawrence, in a Q2 report.
With such high demand and a (potentially temporary) uptick in median home price, now is the ideal time to sell your home in the Hudson Valley. This could be especially helpful if your near-future plans involve moving into a Continuing Care Retirement Community, like New Paltz’s Woodland Pond, that provides a variety of services, amenities, housing, and healthcare options. Having that extra financial cushion from a home sale right now could change your life.
As described in a recent New York Times article, New Paltz is a beautiful, cultured, highly desired location, cradled by a mountain range, surrounded by nature preserves and anchored by a state university. Located only about 80 miles north of New York City, with direct bus transportation from Main Street to Port Authority, New Paltz is very attractive to NYC dwellers seeking a less populated area.
And at Woodland Pond, there’s no doubt your life would change for the better. Nestled beneath the shoulder of the breathtaking Shawangunk Ridge, Woodland Pond is an 83-acre enclave of natural beauty, tailored exclusively for those aged 62 and up, catering to a diverse group of accomplished individuals with varied interest and a zest for life.
Celebrating its 11th anniversary, Woodland Pond has been home for more than 1,500 retirees and remains the only CCRC in the upper-Hudson Valley. Its Life Care program allows residents to enjoy retirement in an inspiring and supportive environment, with access to a full spectrum of the highest rated supportive care options, if ever needed. Woodland Pond has earned the coveted 5-star rating for Medicare and Medicaid Services annually since 2014 and is the nation’s only CCRC to be named a leader in LGBTQ Equality by the Human Rights Campaign since 2018.
The residents, staff, family, and friends of Woodland Pond embrace life and show everyone that crosses their thresholds exactly what it means to be experiencing retirement at its best. And most importantly, thanks to their strict safety protocols, Woodland Pond has not had a single resident test positive for COVID-19 to date, and received a special commendation from Governor Cuomo for their exemplary proactive measures! This is a true testament to their determination to maintain the health and safety of all residents.
If there’s ever been a great time to sell your home and move to a retirement community, it’s now!