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Lower Hudson Valley: Real Estate Market Update | Spring 2018

1 Washington Avenue, South Nyack

If current sales volume trends are any indication, consumers are discovering what Rockland County and Orange County residents already know: that the area offers a unique and coveted lifestyle with some of the most extraordinary homes available anywhere. Richard Ellis, owner of Ellis Sotheby’s International Realty in Nyack, New York, said those counties continue to be favored by buyers who live in New York City, primarily Manhattan and Brooklyn. He also has seen an increase in buyers outside of the United States who are purchasing homes at price points greater than $1 million.

In 2017, Orange County showed increases for dollar volume and units sold of 14.46 % and 9.81% respectively. This is good news! We cautiously predict 2018 will be a good year for real estate throughout the county, and particularly for luxury properties in Tuxedo Park. We believe the new tax laws foster more spending in the higher price points. While we have yet to see any significant appreciation in home values in higher price points, some lower priced homes are beginning to see appreciation.
16 Liberty Street, Piermont

SETTING RECORDS

Richard Ellis, owner of Ellis Sotheby’s International Realty in Nyack, New York, said 2017 was another recent record-setting year for unit sales by his brokerage, which achieved record sales and increased its sales volume nearly 19 percent from 2016 and selling more luxury, single-family homes in New York’s Rockland and Orange counties and Hudson River towns than its competitors.

187 County Highway 105, Highland Mills

Home sales recorded by the Hudson Gateway Association of Realtors Multiple Listing Service show the firm was the market-share leader in sales volume for luxury homes valued at more than $1 million, 29.22 percent in Orange and Rockland Counties and 35.57 percent market share in Rockland County. In the Hudson River towns of Grandview, Palisades, Piermont, Nyack, South Nyack, Upper Grandview and Upper Nyack, Ellis also commands the number-one position in market share for single-family homes, with 23.80 percent for homes across all price points and 56.88 percent market share for the $1 million-plus home market.

95 Judson Road, Montgomery

Ellis Sotheby’s International Realty sold more homes on the Hudson River than any of its competitors: 57 percent, ranging from $850,000 to a record-setting price of $3.5 million in 2017. “Business has been booming,” he said. “It was quite a year for us.”

Luxury sales recorded by the MLS show a 21 percent increase in sales over $1 million in Rockland County and 11 percent in Orange County. “And 2018 is shaping up to be another great year with sales of $4 and $5M under our belt already” Ellis said.

Cautious Optimism

The recent completion of the new Tappan Zee Bridge spanning the Hudson River between New York’s Rockland and Westchester Counties means improved commutes to and from the city. It is expected to drive more sales activity to the west bank of the Hudson River and stimulate new construction, particularly in Rockland and Orange Counties. “More buyers who began their search in Westchester County will come searching for homes in Rockland and Orange Counties,”
said Ellis. “Quicker transportation options to New York City make the Hudson’s west side more appealing.

96 Washington Spring Road, Snedens Landing

We cautiously predict we may finally see home values start to appreciate, including in the luxury segment and the middle-market range for first-time buyers in Rockland and Orange Counties. We already see some appreciation in Snedens Landing, Clarkstown and Orangetown and cautiously predict 2018 will also be a good year for Tuxedo Park, particularly for luxury properties just under and over $1 million.”

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Golf Course Living: The Best Homes in the Lower Hudson Valley

The Lower Hudson Valley offers a myriad of lifestyle amenities and experiences for all interests. From hiking and biking to boating and golfing, the Lower Hudson Valley is more than a location—it’s a destination.

In fact, the region is home to a dozen plus public and private golf clubs and courses. Whether you are a golf enthusiast or just enjoy the serenity associated with the golf lifestyle, living on or near a golf course offers park-like beauty, social camaraderie and leisure recreation.

If you’ve ever dreamed of living the golf lifestyle, explore our collection of championship homes on or near one of the Lower Hudson Valley’s top golf courses.

Rockland County

201 Rt 9W Palisades

201 Route 9W, Snedens Landing

Located just under a mile from the Rockland Country Club, “The Big House” is one of the oldest homes in the country. On the National Register of Historic Homes, this beautifully restored and historically significant circa 1738 English manor has significant period details including massive ceiling beams, 18th century paneling, period cabinetry and wide board floors.

Rockland Country Club, Sparkill (Public): Set on 150 acres, Rockland Country Club features a relaxed, casual atmosphere and an 18-hole championship golf course.

11 mile road

11 Mile Road, Montebello

Located just 1.5 miles from Spook Rock Golf Course, this cut fieldstone Tudor was designed and built by New York City architect Henry Fowler in 1925. This exceptional property features leaded and stained glass windows, beamed ceilings, original chandeliers and wide plank floors.

Spook Rock Golf Course, Suffern (Public): Spook Rock Golf Course is an award-winning, par-72 course set on 150 acres.

635 South Mountain

635 South Mountain Road, New City

Located just 2 miles from Paramount Country Club, this intriguing modern home offers peace, quiet and tranquility in a secluded mountain top setting. Surrounded by protected woodlands, this bucolic sanctuary features vast open spaces, four fireplaces and a German designed kitchen.

Paramount Country Club, New City (Private): Nestled in the heart of Rockland County, Paramount Country Club is a private golf club that offers an exceptional experience with premiere amenities and family-oriented social activities.

15 Wo Bauer Lane Orangeburg

15 Wo Bauer Lane, Orangeburg

Located 3.3 miles from Blue Hill Golf Course, this elegant brick colonial sits on a cul-de-sac in the prestigious neighborhood of Sherwood Forest Estates. Set on nearly one acre and with a circle drive, the home features a dramatic staircase, open floor plan and a great deck, which is perfect for entertaining.

Blue Hill Golf Course, Pearl River (Public): As Rockland County’s oldest course, Blue Hill Golf Course is a 27-hole championship golf course in an idyllic setting overlooking Lake Tappan.

Orange County

103 mansion ridge

103 Mansion Ridge Blvd., Monroe

Located on The Golf Club at Mansion Ridge and overlooking the 18th hole, this sophisticated home is a tranquil refuge that is adorned with top-tier finishes. Enjoy long-distance scenic views from serene outdoor entertaining spaces surrounded by hand hewn stonewalls and elegant landscapes.

The Golf Club at Mansion Ridge, Monroe (Public): Voted Top 20 Best Public Golf Course in New York by Golf Digest, The Golf Club at Mansion Ridge is a Jack Nicklaus signature golf course nestled in the foothills of the Catskill Mountains.

75 Summit Road

75 Summit Road, Tuxedo Park

Located just seven tenths of a mile from The Tuxedo Club, “Stonecrest” is a bespoke masterpiece offering a classic design, exquisite materials, master craftsmanship and modern luxury amenities. From the new chef’s kitchen, to the cherry-wood laden office with fireplace and inviting dining room, the home is both stately and manageable all in a private and tranquil setting.

The Tuxedo Club, Tuxedo Park (Private): One of the most unique private clubs in the world, The Tuxedo Club is a historic social institution that dates back to 1886 and features unparalleled grounds and a notably tough opening blind tee shot.

5 trinity pl

5 Trinity Place, Cornwall

Located just one mile from the historic Strom King Golf Club, Knoll Shoal is a historic and elegant home with original architectural details, high ceilings, six bedrooms, four fireplaces and oak hardwood floors.

Storm King Golf Club, Cornwall (Public): One of the oldest golf clubs in America, Storm King Golf Club began in 1894 and is a true golfer’s club with a relaxed recreational course and social fellowship.

95 Judson Road

95 Judson Road, Montgomery

Located within a 15 minutes drive of Stony Ford Golf Course, this one-of-a-kind rustic retreat is nestled on 38+ private acres offering the perfect setting to relax, recharge and entertain. The compound includes a three-bedroom log cabin-style main residence, two-story showcase garage, two guest apartments, barn and numerous outbuildings.

Stony Ford Golf Course, Hamptonburgh (Public): Stony Ford Golf Course is a public course part of the Orange County New York Parks, Recreation & Conservation. This high-quality course offers a driving range, pro shop and practice green.

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Experience and Lifestyle: Living in the Lower Hudson Valley

outdoor activities lower hudson valley

In real estate, which is driven by supply and demand, it is easy to understand why price and inventory are discussed often. However, new research from the Boston Consulting Group and Sotheby’s International Realty® finds that affluent consumers favor experiences over personal goods. As such, a home is so much more than a physical place to live. A home is a lifestyle. What you choose to surround yourself with—family, friends, history, an amazing view and art—are all part of what makes a space a home. Your best life begins with a home that inspires you.

farmer's markets lower hudson valley

Living in the Lower Hudson Valley is all about the experience and lifestyle. Primary homebuyers find a thriving art scene, close-knit communities and blue ribbon schools. Secondary homebuyers discover the Lower Hudson Valley offers a quite respite from city life, a bucolic landscape and a myriad of outdoor activities including boating, hiking, kayaking and cycling.

11 Voorhis Point South Nyack

11 Voorhis Point, South Nyack

Buyers are drawn to the river communities—Snedens Landing, Piermont, and the Nyacks and Grandviews—for their water accessibility, restaurants and parklands, which cover roughly one-third of the county. By contrast Tuxedo Park, New City and Clarkstown are known for their family-friendly amenities and rural sensibility.

316 West Lake Rd Tuxedo Park

316 West Lake Road, Tuxedo Park

Leading indicators point to a strong spring selling market in Rockland and Orange counties with buyers having a continued focus on lifestyle amenities and homes that deliver meaningful and entertaining experiences.

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