Good news for buyers, we guess. Here’s a report from the Times Herald-Record:
“In Orange County, there were 129 sales in October, compared with 128 a year earlier. Sullivan County saw 29 sales in October, down from 35 in October 2010. There were 72 sales in Ulster County in October, compared with 84 sales during the same month a year ago, according to realtor organizations in the three counties.
The median sale price in Orange County dropped 2 percent, to $252,000 from $256,250 a year ago.
In Sullivan County, the median sale price was $142,994 in October, up from $128,500 in October 2010.
Ulster County also saw an increase in the median sale price, to $215,500 from $205,000 in the same month a year ago.”
Time to go shopping?
I posed this question to a couple of real estate brokers from Delaware County, folks located in or near hard-hit Margaretville. And, you know, what are they gonna say? The market is dead, come on up and take your pick? No, of course not. One broker sent via email a completely pollyanna response (she’s never been more optimistic about the Catskills real estate market), and the other was more forthright on the phone about at least the temporary effect of Tropical Storm Irene in upstate New York: interest has slowed. But…
John Tufillaro at Coldwell Banker Timberland Properties told me that, indeed, he’s had fewer calls in the aftermath of Irene, and business is definitely down in what has historically been their busiest time of year, just before leaf-peeping season. Still…the calls are coming, folks are inquiring. While a few properties saw price reductions just after Irene, Tufillaro says they’re not storm-related. “[The owners] could just be motivated to sell now, ready to move on with their lives,” he says. Business will probably be slow for a while. Tufillaro admits that some towns — Roxbury, Middletown — aren’t looking their best. They’ve been flooded, some buildings are collapsed or condemned, streets are roped off. “People aren’t getting a clear sense of the communities right now,” he says, although they are getting a clear sense of how folks are coming together to help those communities.
And I hate to sound like a real estate predator here, but I do think this makes it an extra good time to check out Catskills real estate for sale. Already, the market was soft; now it’s at a (temporary) standstill. Even properties that were unaffected by Irene will still cause a little hesitation among some buyers, which means those of you who are more intrepid should probably get your rears in gear. After all, roads and homes may be damaged, but the stuff that matters is still there. As Tufillaro says, “The advantages of coming up here are the clean water, the clean air and the natural beauty…and they’re still gonna be coming up for that.”