I’m about 40 miles outside of the city in the mountains of NJ.
Every high-end home, specially lakefront in my town is selling in days. My neighbor spent 18 months trying to sell his home for $650k. It sold about a month after the quarantine to a NY couple. I see NY license plates everywhere now.
They see relative bargains and nice idyllic conditions of my town and snap up the properties. Pretty soon, like locusts they will demand higher taxes and more services and wreck the place. Then they will move on.
Fortunately, my plan exits NJ in a couple years.
I'm 70 miles west of DC in the mountains. Same thing happened here. We had overpriced houses that languished on the market for years. Now they are all snapped up, particularly the move-in condition houses.
Same for me in the Mid-Hudson Valley: Biding wars and cash deals. Houses are literally selling in days as opposed to months on the market.