Long Island reported the highest gain in home sales in 2021 (buyer, suburbs)
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Bottom line, Supply & Demand. You need a buyer & a seller. If there aren’t too many sellers (been reading that for years now) then the demand remains high like we’ve been seeing. Families upgrading to larger homes (with small mortgages) as interest rates are still low. Retirees downgrading & buying homes cash.
Nobody is leaving L.I. Sure, some leave the state. As posted numerous times, I never saw so much traffic, condo developments & apartment complex that are $2500++++ for a one bed room. Well over $3,000 for a two bed room. These are not landscapers renting or buying either.
Because they don't want to live in a hi rise elevator condo anymore after covid.
Yes, although this should also be true for the other suburbs listed in the chart. Why were Long Island sales stronger than all other NYC metro suburbs? What could it offer that other suburbs cannot?
People are cashing in on their POS attached housing, putting cash in their pocket and buying cheaper houses that have some property around it. Long Island is more affordable than Westchester and crossing a bridge to get to Queens is a deterrent to many.
Yes, although this should also be true for the other suburbs listed in the chart. Why were Long Island sales stronger than all other NYC metro suburbs? What could it offer that other suburbs cannot?
Yes, although this should also be true for the other suburbs listed in the chart. Why were Long Island sales stronger than all other NYC metro suburbs? What could it offer that other suburbs cannot?
More people jumping at the chance to sell high and flee.
More people jumping at the chance to sell high and flee.
Yeah but flee where? All the desirable places are crazy inflated too, even down south. Yeah you may be "selling high" but you will be "buying high" too. Property taxes being the exception in most places.
Yeah but flee where? All the desirable places are crazy inflated too, even down south. Yeah you may be "selling high" but you will be "buying high" too. Property taxes being the exception in most places.
Some sellers could be "fleeing" further east, as in selling in Nassau and buying in Suffolk for more space and less density. But they are still grounded in NYC metro. Others could be retiring or semi-retiring and moving to lower priced regions (e.g., upstate, midwest). Hopefully their savings last.
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