Springtime is traditionally when the real estate market in the Hudson Valley changes gears. As the weather warms, the market gets out of the winter doldrums. People are visiting from the city, people are on the move, everybody eyes interest rates on the phone, and – in normal times – anything put on the market receives offers.

Of course these cannot be described as normal times. Uncertainty is riding high and no one can say what next week will bring for the economy.

At the higher end, where prices escalate across the million-dollar line, the bonus season just behind us has been described by Wall Street people as “excellent.” That means there are people with significant spending money in their accounts and they may be ready to pursue that nice farmhouse or antique cottage in a desirable township in Ulster, Sullivan, Northern Orange, or Greene, or across the river in Dutchess County.

At this moment, there appears to be a general pricing trend county by county, with a steady decline in prices as one moves outwards from the city. Thus Westchester, which is prime commuter territory sees average prices around $750-800,000. Prices there have been moving up more slowly, partly due to a lack of homes for sale – though a massive number of new apartments and condos has hit the market in New Rochelle and White Plains.

That lack of inventory is a fundamental factor in the market for the entire Hudson Valley. Spring is also the point where people who want to sell a property, who have sat on it through the winter are likely to test the market and see what offers they might get.

Ulster County is pegged, countywide, at around $405,000 for an average house. On the high end – think mansions and anything in Woodstock, it’s $1 to $2 million, of course. Lowest end, well, there are still $200,000 places. However, one trend reported by realtors is that buyers today usually do not want to have to do a lot of repairs or put in new boilers and wells. Understandable in times of inflation and tariffs.

Sullivan County is lower priced, averaging $300,000 to $350,000. Orange, closer to the city and just within commuting distance commands a slight premium with an average price of $430,000. That’s not as much difference as you might expect between it and Ulster, which seems to be a trend in the past few years, as many movers have been leapfrogging Orange for Ulster.

Ulster County has been the center of attention for a few years now, and that has raised prices which may cool the market down. Remains to be seen, but that is the general tone of market reports this week everywhere.

How long a property stays on the market, therefore, is simply not predictable. Pricing, of course, is key, and properties on the market that are priced competitively (which usually means somewhat less than the owner would like), may be snapped up in a week or a month, but those priced close to what the owner dreams of could stay on the market for months.

As always there are significant local factors to pricing and availability. First, there is very little inventory available, which hasn’t changed in years. Second, things like distance to certain important secondary transportation nodes, like New Paltz, Kingston, Middletown, where buses and trains to the city stop puts a premium on properties. But so does proximity to cultural touchstones like Woodstock.

And there is the interesting question of “walkable” towns and villages, one factor that helps improve the market in places like Ellenville and Saugerties that were once considered unfashionable. That concept dovetails with the growing sense, particularly among younger homebuyers, that the suburban landscape is not so friendly. Walkable means having shops available, and so offers a chance for villages and town centers to become real places again, overcoming the hollowing out that occurred in the late 20th century and early 21st.

For those who are selling a home, the words of every realtor we’ve ever spoken to are worth repeating. “You are staging, presenting the house. Make it look as nice as possible. Remove all clutter. Paint it, if at all possible, but stay with neutral colors. Mow the grass. Clear away weeds and brush. Think hard about what might be a turn off to someone new to the country looking for their rural dream.”

It’s spring, a time for dreams but also the time when dreams crash into reality.