New York State Town is HOTTEST Real Estate Market in America
The real estate market is absolutely insane right now.
Especially in New York State buying a house was extremely competitive in the past 18 months. Prices of houses were going up to 50% MORE than value and houses were selling within days with tons of offers.
Every year, Realtor.com releases a list of the 'HOTTEST REAL ESTATE ZIP CODES OF THE YEAR'. This year, Brighton, New York topped the list as the hottest zip code for real estate in America.
The hottest ZIP codes list was compiled by looking at housing market demand using Realtor.com listing data from January to June 2022. The economic research team looked at the number of views listings in each ZIP code were receiving on the site and how quickly the homes were selling", according Realtor.com.
Brighton is a suburb of Rochester. It is in Monroe County, New York and the population was 37,137 at the 2020 census.
The sellers are accepting offers that are way above asking and they're selling their houses FAST. Over the pandemic, I became a realtor and have started taking close friends and family to buy homes. Some of the houses are asking RIDICULOUS prices and they weren't even THAT nice inside. There were 3 bedroom, 1 bathroom homes in Cheektowaga and we would get outbid by other offers by 60-70 THOUSAND dollars. That's insane. Sometimes those offers were cash as well. How is a young person supposed to compete with that?
In Western New York, the real estate market seems to be steading out a little bit. With interest rates raising dramatically within the past 3 months, it seems as though fewer homes are selling for 50% over the asking price.
If you want to see some of the homes that are for sale in the 'hottest' real estate zip code in the country, you can see them here.