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A portion of it: "Now, they are among many families who have traded in the congestion and cost of New York City for more affordable, more spacious homes in Central New York during the Covid-19 pandemic. The pandemic has changed the way people in many industries can work remotely, proving that they don’t have to live in New York City to do the same jobs.
Real estate records show dozens of people with Downstate addresses bought homes in the Syracuse area in 2020. Real estate agents say they have waiting lists: More people are looking for homes here while fewer homes are for sale.
Families are attracted to the region for the schools, with smaller classroom sizes and more personal attention for remote learners. They love the plentiful green space. They look forward to discovering restaurants and other social activities as they reopen. But so far, they joke that there are plenty of coffee shops to replace the ones they left behind.
Then, there is the cost of housing. The median home price in Central New York is $159,000, compared to $830,000 in Brooklyn. It also helps that interest rates are at historic lows, less than 3%."
Just had an interesting conversation with a relatively new co-worker that I found out moved to the area from Martha’s Vineyard. They mentioned that a part of the reason they moved to the area was due to affordability and their spouse is originally from the Central Square area. Well, during their home search, they stated that homes they had interest in were getting snatched up within hours. Many are getting multiple offers and people are dropping thousands of dollars in cash for down payments. Some are even waiving inspections to get the home they want, which they did for their home in North Syracuse. So, there are appears to be some validity to the initial article.
I have noticed that solid homes in nicer outer city neighborhoods don’t last too long on the market either. So, this goes beyond just the suburbs and small town/rural areas as well.
Last edited by ckhthankgod; 02-26-2021 at 09:38 AM..
Just had an interesting conversation with a relatively new co-worker that I found out moved to the area from Martha’s Vineyard. They mentioned that a part of the reason they moved to the area was due to affordability and their spouse is originally from the Central Square area. Well, during their home search, they stated that homes they had interest in were getting snatched up within hours. Many are getting multiple offers and people are dropping thousands of dollars in cash for down payments. Some are even waiving inspections to get the home they want, which they did for their home in North Syracuse. So, there are appears to be some validity to the initial article.
I have noticed that solid homes in nicer outer city neighborhoods don’t last too long on the market either. So, this goes beyond just the suburbs and small town/rural areas as well.
This is our biggest issue with relocating at the moment. The argument used to be that we'd find something significantly cheaper than Long Island but the RE market is crazy.
A home we were looking at in Skaneateles went on the market for 599 a few months back, ended up going to a bidding war and sold for close to 100k over ask. Wild stuff.
This is our biggest issue with relocating at the moment. The argument used to be that we'd find something significantly cheaper than Long Island but the RE market is crazy.
A home we were looking at in Skaneateles went on the market for 599 a few months back, ended up going to a bidding war and sold for close to 100k over ask. Wild stuff.
Yes and given that Skaneateles is pretty much as affluent as you can get in the metro area, that doesn't surprise me. It has quite a few properties in the area that are over $1 million dollars.
Personally, if you want something similar, look into Cazenovia in Madison County. It is another lakeside, walkable village community with very good schools and has more affordable housing options.
The HS I went to plays both of these communities in sports and they have always been this way. This reminds me, but another community in that same league that is adjacent to Skaneateles that may work is Marcellus. Has a nice, quaint and walkable village; a nice big park and good schools.
Last edited by ckhthankgod; 02-26-2021 at 12:13 PM..
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