Realtors retain positive outlook

Area realtors expressed little concern about last week’s historic decline in global capital markets and largely agree it’s too soon to know what the impact will be.

“In times of economic uncertainty — whether driven by market volatility or global trade tensions — real estate remains one of the most reliable investments,” observed Elyse Harney Morris of Elyse Harney Real Estate. “Unlike the stock market, which can react instantly to news and speculation, real estate is grounded in tangible value, especially in regions like Litchfield County. We continue to see strong interest in existing homes, and the current market has not shown signs of slowing due to increased building costs. If anything, those higher costs have made move-in ready homes even more attractive. I believe we’ll continue to see people investing in properties here as a way to diversify their assets, secure a foothold outside the city and enjoy the lifestyle this beautiful area offers. In a shifting economic landscape, real estate up here isn’t just a safe harbor – it’s a smart move.”

One real estate broker largely confirmed Harney’s viewpoint.“It’s too early to tell. We remain in a high demand market … Properties priced properly are going under contract in fourteen days or less, in some cases, within the first two days of listing with multiple offers and closing above list price.”

Andrew Gates, a real estate agent with Houlihan & Lawrence in Millbrook commented, “No one can tell if the tariffs will have any direct effect on our local market, which as everyone knows is driven by demand from second home owners, largely based in New York City. However, if the stock market continues to correct to the downside, that is likely to put a chill on demand. Having said that, it’s always possible that if things feel unstable for any particular reason, people may seek a safe and secure refugee upstate. On the supply side, I’m renovating my fifth house … and have yet to see upward price pressure on building materials, but very tight availability of labor in the construction space remains an ongoing issue”.

More pessimistic brokers are concerned that buyers will walk away from already signed contracts or simply stop looking at the same time that potential sellers will wait and see what happens on Wall Street. John Harney of William Pitt Sotheby’s observed succinctly, “When there is uncertainty buyers stay on the sideline.” All agree that the direction of the local real estate market changes slowly and don’t anticipate an immediate change in our high demand real estate market.

Latest News

Pine Plains Planning Board approves waiver for proposed dispensary

Planning Board members granted a waiver to the proposed cannabis dispensary located in the historic weigh station on Route 82 allowing the business to operate within 300 feet of the firehouse and the Post Office in contradiction with Pine Plains's local law. Town attorney Warren Replansky explained the town's codes would likely be unenforceable following legal decisions handed down by the Office of Cannabis Management on Monday, Oct. 6.

Photo by Nathan Miller

PINE PLAINS — Members of the Planning Board voted unanimously to grant a waiver to Upstate Pines allowing the cannabis dispensary to operate within 300 feet of the firehouse and the Post Office at their regular meeting Wednesday, Oct. 8.

That vote came after Planning Board attorney Warren Replansky explained recent state guidance superceded the town’s ability to restrict the business on the grounds of its proximity to the Post Office and the firehouse.

Keep ReadingShow less
Packed house hears Hitchcock estate golf course pre-application

Dozens of people crowded into the courthouse at the Washington Town Hall on Reservoir Drive in Millbrook on Tuesday, Oct. 7, to watch a pre-application meeting between Planning Board members and representatives of Centaur Properties LLC. David Blatt and Henry Hay of Centaur Properties LLC described their plan to build an 18-hole golf course with limited membership and residences on the historic 2,000-acre Hitchcock estate.

Photo by Nathan Miller
"This is nothing like Silo Ridge," said Centaur Properties co-founder Henry Hay. "This is Buckingham Palace to a craphouse. It's completely different. It's much higher quality."

MILLBROOK — Dozens of residents of the Town of Washington packed into the courtroom in Town Hall on Reservoir Drive for a standing-room-only regular meeting of the Planning Board on Tuesday, Oct. 7.

Well over three-quarters of the crowd were there to listen in to a pre-application meeting between Planning Board members and representatives of Centaur Properties LLC, a New York City-based development company that’s proposing an 18-hole golf course, equestrian facilities and luxury residential development on the 2,000-acre Hitchcock estate.

Keep ReadingShow less
Dutchess County Sheriff’s Report
Village of Millerton offices on Route 22
John Coston

Dutchess County Sheriff’s Office Harlem Valley area activity reportSept. 18 to Sept. 30.

Sept. 23 — Deputies responded to 1542 State Route 292 in the Town of Pawling for the report of a suspicious vehicle at that location. Investigation resulted in the arrest of Sebastian Quiroga, age 26, for aggravated unlicensed operation of a motor vehicle in the third degree. Quiroga to appear in the Town of Pawling court at a later date.

Keep ReadingShow less
Out on the trail
Nathan Miller

Hunt club members and friends gathered near Pugsley Hill at the historic Wethersfield Estate and Gardens in Amenia for the opening meet of the 2025-2026 Millbrook Hunt Club season on Saturday, Oct. 4. Foxhunters took off from Wethersfield’s hilltop gardens just after 8 a.m. for a hunting jaunt around Amenia’s countryside.