How the Catskills Are Beating the Hamptons
We heard rumblings with the Hamptons vs. Catskills argument had started but now the real estate marketing is seeing it in real time.
According to data published by Yahoo Financial, the Catskills and the Hudson Valley are seeing a significant increase in travel by young adults aged 20 to 24 years old. The summer of 2016 saw a nearly 55% increase in trips to the area by these “millennials” compared to the same time in 2012. During that same period, the same group decreased excursions to the Hamptons by nearly 46%. Older demographics are also starting to follow the trend and head to the Catskills instead of the Hamptons.
Why the shift in destinations?
Attitudes among millennials are changing to appreciate “experiences” over “things.” While the Hamptons, a group of beachfront villages about 100 miles from Manhattan, are often associated with wealth and materialism, the Catskills are known for an understated, authentic lifestyle with mountain hiking, kayaking, trips to the farmers’ market, dining at artisanal restaurants and hanging out by the fire pit with friends.
Another obvious draw? The stunning scenery of the rolling Catskill mountains, vast lakes and reservoirs, and picturesque small villages. Instagramming these visuals has helped reach and attract a growing number of travelers.
How does this affect real estate sales?
The Catskills and Hudson Valley area has experienced a tremendous surge in sales volume county by county over the last several years. Lifestyle change drives part of that increase, but there is also a phenomenal difference in the value of real estate. Many people would rather go for a peaceful, private 100-acre property instead of a small beachfront lot for the same amount of money. Chefs, artists and entrepreneurs are also finding the area a more affordable place to realize their dreams while staying close to the city. As they relocate, they bring their skills and energy with them, helping to revitalize the economy. With the area evolving in response to the growth, it will continue to attract more people.
Peace, authenticity, amazing value and boundless opportunities… That’s what the Catskills are all about.
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