Kingston’s housing market is currently the hottest in the country, according to the National Association of Realtors. For real estate agent Eric Amaral, this is unlike anything he has seen in his 21 years of experience here.
“Last year, I really felt like people in New York were insisting on really getting out of here, and there was a feeling, ‘I need to find a better place to live, and I need to find it quickly,” Amaral said. …
Residential prices in Kingston have skyrocketed over the past year, according to data provided by multiple listing service Amaral; on average 34%. And the volume of purchases has also grown sharply – up 90% this year compared to last.
Right now, Amaral is working with Ray Peralta to help the New Yorker find a home in Kingston. Peralta now lives in Shokan West and knows the Kingston market. He bought a two-family house there many years ago, using it as a rental unit. Now he is looking for another home in Kingston, this time with an eye on retirement. But the process was not easy.
“I see more influx of people than necessarily a wave of people leaving,” Peralta said. “But a lot of people come and expand the neighborhoods.”
He’s not the only one with problems. Amaral says the houses in Kingston are no longer for sale. Many are sold after three weeks, when it used to be three months.
“If they like something I showed them that day, they almost have to make a decision tonight if they want to propose. And it’s difficult to put such pressure on someone, ”Amaral said. “But in fact, if they don’t make that decision quickly, the property will no longer be available.”
While many homebuyers are locals who move horizontally through the city, this explosion was largely fueled by New Yorkers wanting to leave the city’s five boroughs after a year of isolation. And they think Kingston is the perfect place to do it.
“They want a big backyard, they need fresh air, and they see that Kingston can get a really nice home for little money. And so they see value here, they see community here, ”Amaral said.
He’s not sure if Kingston’s market is at its peak, but he’s happy to see more and more people discover the city he fell in love with decades ago.