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2021 Garrison, NY Actual Property Report for Single-Household Residences

Welcome Properties Worth Rating: 8.7 

Dwelling costs in Garrison are likely to fluctuate, rising within the spring and early summer season and dropping in early fall into the winter. However with properties nonetheless promoting below checklist value — stunning amidst a nationwide housing scarcity — it’s by no means been a greater time to purchase within the space. 

Garrison Dwelling Values 

In accordance with knowledge from Redfin.com, the median value for a single-family residence in Garrison is $665,000 as of April 2021. That is up 7.2% from final 12 months, however the absorption charge, the variety of homes offered from the overall provide, is simply 37.8%. In comparison with the nationwide common of 96%, this implies that Garrison is way more appropriate to patrons.

Throughout the surrounding space, the median sale value for a single-family residence in Garrison is 12% greater than the New York metro space, 58% greater than Putnam county, and 54% greater than New York state. Nonetheless, seasonality seems to affect the shopping for market in Philipstown, the place Garrison is situated. During the last 5 years, median residence costs soared in the course of the summer season months, based mostly on RedFin knowledge. These trying to purchase a home in Garrison would possibly get a greater deal in the course of the fall and winter.

What’s extra, based mostly on Redfin.com knowledge, properties in Garrison offered for a median of two.2% beneath their asking value this previous April. That is in stark distinction to the remainder of the nation, the place, nationally, 40% of properties are promoting for over itemizing value, in accordance with Redfin. Regardless of a nationwide housing provide squeeze, Garrison seems to be one of many few purchaser’s markets within the nation.

Garrison Housing Inventory

Taking a look at Zillow and Realtor.com knowledge, new building accounts for five% of the out there properties on the market in Garrison. In June 2021, out of the 4,300 present residential properties in Garrison, solely 37 had been up on the market. Garrison properties are barely newer than close by Westchester County, with a median residence age of 40 years — nonetheless greater than the nationwide common of 37 years. In different phrases, most present properties within the space are older and probably require further renovation to satisfy a contemporary homebuyer’s wants.

In accordance with census knowledge, 91.1% of individuals dwelling in Garrison stay in the identical home as they did a 12 months in the past, suggesting that the majority who stay within the hamlet have a tendency to remain put reasonably than often transfer. Nonetheless, on common, single-family properties in Garrison spend about 132 median days in the marketplace, drastically greater than the present nationwide common of 24 days reported by Redfin.

Garrison Location, Colleges, and Air High quality

One Metro-North commuter practice line providers Garrison. With a single Metro-North station within the city, residents who have to commute to close by New York Metropolis depend on a practice that leaves hourly from Garrison and arrives at Grand Central in simply over an hour. 

Garrison touts a very good faculty and low crime charges. Primarily based on knowledge from Zillow, there’s one Okay-8 faculty in Garrison with a 9 score. Taking a look at Crimegrade.org knowledge, Garrison has an annual crime charge of 6.9 per 1,000 residents, with a criminal offense occurring, on common, each 12 days. When it comes to security, Garrison is within the 99th percentile, that means that it’s safer than 99% of US cities. 

Regardless of its proximity to one of the populous cities within the nation, in accordance with EPA knowledge, Garrison enjoys a median Air High quality Index of 32, which is taken into account “good.” In 2020, Garrison noticed 350 “good” air high quality days and solely 6 “average” days.

Taxes in Garrison 

Basically, in accordance with a WalletHub rating, New York state has one of many highest property tax charges within the nation, rating forty third at 1.72%. Property taxes in Putnam County, the place Garrison is situated, common a 2.63% efficient charge, greater than close by Westchester county, albeit each are nonetheless among the many greater property tax charges within the state. 

Exterior of property taxes, the typical revenue tax charge is 29.65%, and the efficient gross sales tax in Putnam county is 8.375%. On common, Garrison residents contribute 37% of their revenue to taxes.

Contemplating shopping for in Garrison? 

Shopping for a house generally is a advanced, tough expertise, with 40% of People contemplating residence shopping for essentially the most hectic occasion in trendy life. Welcome Properties is the first-of-its-kind on-line residence constructing platform designed to show residence patrons into residence builders by making a seamless and value clear residence shopping for course of. 

The Welcome Properties platform streamlines the method for brand new residence patrons and permits them to construct the house of their goals inside six months for a single locked-in value.

Interested in what Welcome Properties can do for you in Putnam County? Request a session at the moment.

The Welcome Properties Worth Rating is calculated based mostly on faculty district score, crime charge, tax charge, residence worth, residence worth development, residence gross sales in comparison with checklist value, median residence age, and commute time.

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