Surprisingly this quarter in the Nyacks empty nesters are out in full force and they are buying! My last three deals over the past two weeks have been empty nesters. Trending data reveals that empty nesters will step up to bat for both newer construction and or fully renovated homes particularly with great kitchens. The higher taxes that accompanies new construction while never a welcome condition doesn’t seem to be a show stopper. The question is, why the trend ?
The declining availability of inventory since the beginning of the year may be one of the factors contributing to this trend. Baby boomers/empty nesters may also be switching the playbook around. They are remaining more engaged with the workforce and not rushing off to Florida as their parents had done. Choosing to remain in the area where they raised their kids, and to be closer to their kids as they raise their own families.
What may also be fueling this trend is the unique nature of the Nyacks, which makes them such a desirable area to live. Nestled on the Hudson River, and featuring Victorian homes, hiking trails, and only a short drive to Manhattan make us a great place to live.