Rivertowns Real Estate

Real Estate: Here Come the City Folk

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Real estate in the Rivertown's — It's a seller's market in the rivertowns

November 16, 2020

Data obtained by the New York Post from the U.S. Postal Service appears to confirm that the pandemic is indeed driving New Yorkers out of the city, and Westchester is one of the top destinations.

According to the data, nearly 300,000 residents requested a change of address from the city to someplace else. “Since the data details only when 11 or more forwarding requests were made to a particular county outside NYC,” said the Post in its story, “the number of moves is actually higher. And a single address change could represent an entire household, which means far more than 300,000 New Yorkers fled the five boroughs.”

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Long Island is the destination of most of these ex-urbanities, with about 40,000 changing their addresses to either Suffolk or Nassau Counites. Westchester is third with nearly 16,000.

Local realtors confirm the trend. Janet Kovacs, Brokerage Manager for Houlihan Lawrence’s Irvington office, commented, “October was another month for the books north of NYC. As the leaves changed, we continued to see buyers flock to our communities to admire more than just the fall foliage.”

It is definitely a seller’s market, according to recent data. Active sellers of single family homes in the rivertowns are down 25% year to date, but contracts are up over 60%. Statistics on where buyers in the school districts of Ardsley, Irvington, Dobbs Ferry, Hastings and Tarrtyown/Sleepy Hollow are coming from show 47% of them are coming from the city.

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