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Putnam County Housing Market Improves Over Past 12 Months

Putnam County Housing Market Improves Over Past 12 Months        

 

Data from the Hudson Gateway MLS indicates the Putnam County housing market is holding its own compared to our neighbors.  Compared to 2012, Putnam saw a 22% percentage increase in closed transactions, a 5.0% median sales price increase, and a slight inventory decrease while neighboring Westchester boasted an 11% decrease in inventory.  The numbers point to a steady recovery.  Interestingly, homes in the $100-300K price range have been strong sellers while the homes over $600K have been much weaker, likely a result of an oversupply of these high-value homes built just prior to the economic downturn.

 

Putnam County does possess some things in its favor when it comes to

property values:

 

● We have a low unemployment rate of 5.8%.

● We are an affluent community with an median household income of $92,711.

● Since 2009, Putnam County’s crime rate has decreased 34.2% making it the most

improved county in New York State in this metric.

● Our home ownership rate is 83.4% which is much higher than surrounding

counties.

● We are still a small, closely knit community with our population just under 100,000.

 

There is room for even more optimism. Our current County administration works hand in hand with our EDC/IDA, Chambers of Commerce, and Tourism and is focused on quality of life issues such as infrastructure improvements, revitalization, smart development, and transportation improvements. The county has even partnered with local Realtors to sell county owned properties. Putnam County is a place that has astutely avoided overdevelopment and over commercialization and instead is famous for its bodies of water, parks and mountains. As we well know the county still lies within a short, easy commute to Manhattan.

 

Putnam County is building an even stronger community and an attractive place to live, work and play, which will continue to be reflected in stronger real estate values.

-Jennifer Maher, Chairwoman, the Putnam County Chambers of Commerce

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