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Second home market booms in upstate vacation areas
Limited inventory has been a persistent theme throughout the coronavirus pandemic, mostly describing items on the shelves containing the must-haves people needed to stay safe --and entertained --at home. From hand sanitizer to toilet paper, gaming systems to bicycles, consumers have grown accustomed to a lengthier search to get what they need to survive quarantine with essentials and added bonus items to make life a little easier.
One of those “bonus items” for those who can afford it has involved entering the market for a second property --a secluded escape allowing families another place to go and safely gather to make the most of a more isolated summer. This timely surge in interest for second homes has resulted in limited housing inventory in upstate New York’s popular vacation areas, from the Hudson Valley to the Northern Adirondacks.
“Having a second home or an alternative place to go is a huge benefit right now,” said Christine Marchesiello, associate broker and team leader of the Christine
Marchesiello Team at Keller Williams Capital District. “People are starting to consider options for the next time they might have to be quarantined, and aside from building a pool or buying a boat, purchasing a second property is the ultimate way to accomplish this.”
Marchesiello saw a spike in inquiries in April during the peak of the lockdown as people canceled out-oftown vacations and searched for new plans for the summer. In May, she connected with Leann Pitcher, a fellow agent from Rhinebeck who was interested in purchasing a second home farther North herself.