The Hudson Valley covers a large geographic area and the real estate market tends to vary from county to county and even within counties. Proximity to New York City is an obvious factor in determining the price of real estate.

Like the rest of the country, the Hudson Valley has been affected by the slowing of the real estate market. Prices have been dropping, but prime properties still are holding their value.

While on the average a drop of 20% is a good guideline, the general scarcity of properties throughout the valley results in deviations from this norm. If Sellers have an immediate need to sell they may find themselves dropping the price even more to attract a quick sale. On the other hand if Sellers do not need to sell quickly they can hold out for the price they want.

Another factor helping the Hudson Valley is the movement of individuals who are retiring or down sizing from the Metropolitan New York City area, including Long Island, part of Connecticut, New Jersey and Westchester.

Since properties are so much higher in those regions the Hudson Valley properties may still seem inexpensive in comparison to the area from which they are relocating. The more unusual the property the easier it is to successfully pursue that strategy.

In order to determine the value of your property it is advisable to hire an independent appraiser to give you an accurate figure. The charge for an appraisal can vary from a couple of hundred dollars to much more. So check with the appraiser before deciding upon the individual.

While real estate brokers will often be willing to prepare a Comparative Market Analysis (CMA) be wary. While a skilled realtor can probably provide more accurate guidance than an appraiser who may not be familiar with the specific area, realtors have an axe to grind. They want to convince you to list your property with them. The result is often inflated values which may hinder a timely sale of the property.

If you have other questions you may want to visit the Hudson Valley Real Estate Blog and pose them to our Principal Broker .