Study: Watervliet a top market for new buyers
WATERVLIET — Is Watervliet a hotspot for first-time homebuyers looking to break into the housing market? According to Realtor.com it is.
The national real estate listing service recently published a study naming Watervliet as the eighth best market for first-time homebuyers in the country. Portsmouth, Va. topped the list at No. 1, followed by DeForest, Wis. and Windsor Locks, Conn., respectively.
The study – which ranked 659 cities and communities with a population of more than 5,000 located within the nation’s 100 largest metro areas – considered several criteria, including affordability, expected growth for the market’s surrounding metro area (Albany-SchenectadyTroy), the availability of homes for sale, job opportunities, average commute time and local amenities.
“When I saw the announcement I had to read it a few times to be sure I was reading it correctly,” says City of Watervliet Mayor Charles Patricelli. “Every mayor feels their city is the best but this made me feel on top of the moon.”
In crafting the list, Realtor.com also considered the number of 25 to 34 year olds in the local population. The top markets are more flush with younger homeowners and have an average estimated 2023 millennial population share of 14.8 percent. Watervliet tops out at almost 16 percent.
“When I first ran for city council, and eventually mayor, attracting young families to live in Watervliet was, and remains, part of my platform and goal,” said Patricelli.”Young families mean owner-occupied homes and helps make the city vibrant. It also shows the city has plenty to offer at an affordable price.”
Patricelli believes several key upgrades helped the city achieve its newfound status, including improvements to city parks, a $500,000 spray pad and waterpark added to Veterans Memorial Swimming pool, a rehab of The Dome recreation facility, a fullystaffed police force and more.