Posted on 08/30/2020 10:32:32 AM PDT by Bigtigermike
Over three days in late July, a three-bedroom house in East Orange, N.J., was listed for sale for $285,000, had 97 showings, received 24 offers and went under contract for 21 percent over that price.
On Long Island, six people made offers on a $499,000 house in Valley Stream without seeing it in person after it was shown on a Facebook Live video. In the Hudson Valley, a nearly three-acre property with a pool listed for $985,000 received four all-cash bids within a day of having 14 showings.
Since the pandemic began, the suburbs around New York City, from New Jersey to Westchester County to Connecticut to Long Island, have been experiencing enormous demand for homes of all prices, a surge that is unlike any in recent memory, according to officials, real estate agents and residents.
In July, there was a 44 percent increase in home sales for the suburban counties surrounding the city when compared with the previous year, according to Miller Samuel Real Estate Appraisers & Consultants. The increase was 112 percent in Westchester, just north of New York City, and 73 percent in Fairfield County, Conn., just over the state border.
At the same time, the number of properties sold in Manhattan plummeted 56 percent, according to Miller Samuel.
(Excerpt) Read more at nytimes.com ...
There goes the neighborhood.
Wondering what effect this has on the NYC 2020 census.
I can attest to this. I know Agents who are receiving 20K overbids for cash routinely. One sold in 10 minutes.
And the idiots will keep voting Democrat while driving the cost of living up to the stratosphere. Its a seller’s market but then you have to get out of the area because you won’t be able to compete with other buyers.
Covers rentals too.
They are all in favor of BLM, Antifa and ‘SJWs’, just ‘NIMBY’.
The locals should form committees to prevent the idiot lefties from moving into their neighborhoods.
Any semblance of sanity in the ‘burbs of NYC will go out the window or down the toilet. The same people who turned the boroughs into “People’s Paradises” will finish off the suburbs with their cancerous thinking and not even know what they have done wrong.
Of course, I’m not referring to the FReepers who are behind enemy lines still fighting the good fight in these places or our FRiends who are needing to fall back into FRiendlier territories.
“Since the pandemic began...”
They’re blaming it on Covid. Yeah right.
Wow. BLM and Antifa increase property values....everywhere else lol. There should be a massive campaign advising these displaced people to leave their crappy politics behind, or move back there and be reunited.
Most of these Manhattanites are moving to equally-blue suburbs. NJ and CT were gone for the most part anyway.
Employers know that taxes in New York City must inevitably skyrocket to pay for all the lost financials and since it's a zero sum game, those caught behind the lines will end up paying for all of it.
I suspect the new owners may find that they can’t really run from it all, they can only delay the inevitable.
Trust me, I know. I live in a rural part of Northern California. Our City Councils and County Supervisors seats have already been taken over by SF and Napa Valley transplants.
It’s Covid too Judy
I feel sorry for those suburbs.
These rich New Yorkers need to head to the Southern Tier - homes in Broome and Chenango Counties still take months to sell.
Too bad we can’t lock them in. They created the mess, they should have to deal with it.
“The locals should form committees to prevent the idiot lefties from moving into their neighborhoods.
“
Yep. Every town needs a border wall.
Pretty soon we’ll revert back to the middle ages form of government - city states.
Zillow had the appreciation for the last MONTH up 4.4%.
Since the census is supposed to record place of residence as of April 1, 2020, the effect on the census should be negligible, because this mass movement wasn’t underway yet on April 1st.
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