It was a quiet rainy day yesterday, and data geek here got an itch to find out just how prices compare in Sullivan County to the other Catskills and Hudson Valley counties that are within the search circle for New York City second home buyers. I pulled sales data from the Realist property record database for sales in 7 counties — Columbia, Delaware, Dutchess, Greene, Orange, Sullivan and Ulster, for homes on 5 or more acres sold in 2013 and 2014. (The total number of sales meeting the criteria over the 2 year period was 1,905). I used a five acre minimum parcel size because that’s a common threshold for second home buyers looking for something with some elbow room and a sense of privacy. So keep in mind that this is a subset of total sales, and is NOT the overall average of all sales in each county, but is a good indicator of relative pricing.
Sales Prices for Homes on 5+ Acres in 2013/2014
|County||Average Sales Price
Homes on 5+ Acres
This isn’t a true “apples to apples” comparison, because the quality of the housing stock varies between areas. It’s unlikely that there are many ‘handyman fixers’ in Dutchess County compared to Sullivan or Delaware. The ‘average’ house in the more upscale parts of the Hudson Valley are likely more updated and stylish than in the less expensive areas further west. Here’s a ‘heat map’ with the sales by zip code. Lighter is cheaper, darker is more expensive. You can see that prices are higher overall east of the Hudson, and least expensive as you move northwest in Delaware County. There are a few pricier zips in Sullivan County, largely in areas with upscale lake communities like the Chapin Estate. The priciest zip on the map? 12501 in Dutchess County, where the average sales price for a house on 5 or more acres was $5,589,513. The map is pretty cool. You can zoom in and out and mouseover any of the zips to see the average sales price.