Upstate New York was a white hot sellers’ market in 2020. There had already been a steady trend of buyers over the past few years, a growing movement of city residents who were starting families, or simply tiring of the city life. But a virus kicked that into high gear, and even people who didn’t used to think they wanted to leave the city started searching for a place with more elbow room.
Space is the luxury they all desired. They are willing to pay for it.
Fall tends to slow down and winter gets even slower upstate. That’s happening, a little. But not like it usually does.
Downstate buyers are still driving up to see the houses that interest them. They’re making offers. They’re prepared to move in the dead of winter, if necessary.
Commercial and multi-family properties aren’t moving as quickly. But if all the predictions are right, and the virus is still with us in the spring, I anticipate the investors will be following a new surge of buyers.
But no one saw any of this coming. And no one can say, with any confidence, what will happen next.
2020 has been a year of curveballs. And it isn’t done yet.