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Hastings, Nearby Towns See Dramatic Rise In Real Estate Activity

This home in Hastings-on-Hudson recently sold for above-asking price.
This home in Hastings-on-Hudson recently sold for above-asking price. Photo Credit: Contributed
Doug Tricarico of Houihan Lawrence
Doug Tricarico of Houihan Lawrence Photo Credit: Contributed

HASTINGS, N.Y. – Real estate sales in Hastings on Hudson rose more than 21 percent in the past year, and Houlihan Lawrence Realtor Douglas Tricarico says more city dwellers are moving to the town and nearby Rivertown communities.

“There’s easy transportation to the city,’’ said Tricarico, whose newly-designed website, homesinwestchester.com, allows users to search not only his team's listings but also the whole MLS. "That’s one of the main draws. A lot of people from Brooklyn and other parts of New York are coming up. They like the rustic look, and the small town feel."

There were 86 homes sold in Hastings from June 6, 2013 to June 5 of this year. From June 6, 2012 to June 5 of 2013, there were 71 homes sold. That represents a 21.1 percent increase, and the median sale price rose from $625,000 to $684,250, a 9.5 percent increase.

Tricarico said several reasons, besides the proximity to New York City, were behind the increased interest to live in Hastings and nearby communities.

“People are looking at Westchester County as a solid option because of the schools and it’s right on the water,’’ Tricarico said. “They like the community feel.”

The median sale price for Hastings homes reached its highest point in 2007 at $800,000. The median sale price was $616,250 in 2009, and rose to $660,000 in 2013.

“It has the foundation to be a desirable area for hipsters,’’ Tricarico said. “People are deciding that they want to move up here. It’s appealing to a lot of current buyers. The community and schools, the value, the proximity to New York are all playing a part in it.” The increase in Manhattan real estate prices also makes Westchester a more viable option. All of those factors have led to increased interest in the region this Spring.

Tricarico’s mother, Debra, started her career in real estate 30 years ago and received Houlihan Lawrence’s Emerald Award for eight straight years from 2005-2012. She had 60 showings in a week earlier in spring, and a recently listed “fixer-upper” that went for above asking price, which has become the norm in the current market.

Last year, the New York Times characterized the town as an example of “hipsturbia,” citing the exodus of young, creative professionals to the community. Douglas Tricarico said residents welcome the new homeowners.

“It’s helping their home values,’’ he said. “Having people who want to come to your community is a good thing. A town like Hastings, it has a lot of history. It’s a small little section of the county that’s often forgotten about. The schools are always at the top of the list, and we’re seeing restaurants opening up and bringing life to the neighborhood.”

In the 2000 census, Hastings had 7,648 people in 3,093 households, and 2,090 families residing in the village. Nearly 34 percent of the households had children under the age of 18 living at home. Most residents were ages 45 to 64, 29.3 percent.

Westchester real estate prices have risen significantly in the past two years, and Tricarico believes the momentum could sustain itself for a while.

“I think everyone is looking at it and taking it for what it is,’’ Tricarico said. “One news report could change the outcome. For now we’re all excited to ride it out and see where it goes.”