The housing market is on fire in the Hudson Valley.

It's likely you've heard how crazy the housing market in the Hudson Valley is right now. The boom started in 2020 as the COVID-19 pandemic caused people to flee New York City for the Hudson Valley. In November 2020, we reported that "pandemic-weary New Yorkers sought refuge in New York City. Beacon has become a "refuge" for multiple people leaving NYC. Because of this, there is a high demand for real estate in the Hudson Valley, but a low supply.

According to The Real Deal, this high demand and low supply are expected to continue in 2021. Dutchess County prices were up over 30% year over year. Columbia County also saw over a 13% increase in home prices. There is also a high demand for commercial space in the Hudson Valley.

Earlier this month we reported Keller Williams real estate agent Phil Szumlaski said, "Low mortgage rates, combined with low supply and high demand for housing, lit a furious fire under home prices. Most homes are barely lasting a week on the market, most are gone within a few days."

Kingston had the fasting rising home sales in the United States as the Ulster County location was on the "receiving end of the exodus" of New York City residents fleeing the city, according to an early report we published in March 2021. This previous report also said the New York State Association of Realtors believes that housing demand will remain strong in the Hudson Valley. Like The Real Deal, they also believe supply will be low.

In November 2020, we reported multiple stories of people listing their home for sale and having an offer within 24 hours of it being listed.

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