Four cities in northern New York State have been named the “hottest real estate markets” in the United States

If you’re looking to sell your home, Upstate New York is the place to live in 2024.

As highlighted in a Forbes Magazine article, Upstate is considered the “hottest real estate market” in America for the first six months of this year.

If you are purchase a house in the area, then you will not agree with this statement. That is, if you sale your home in upstate New York, then now is the time to accept the deal.

Take a look at these numbers from Zillow’s Market Heat Index referenced in the Forbes article:

Based on this market temperature data published by Zillow, four metropolitan areas in northern New York State — Rochester, Syracuse, Buffalo and Albany — are considered the top four selling markets in America. Other Northeastern cities also make the list, including Hartford, Springfield, Worcester and Bridgeport.

This is what the data shown above looks like geographically:

Forbes shared some additional thoughts about Upstate New York in its article:

• The average home value in Syracuse has increased 4.3% (to $230,632) so far this year.
• Rochester has seen an 8% increase in home sales prices, one of the largest increases in America.
• The cluster of the country’s fastest-appreciating metropolitan areas in upstate New York is being driven by a “drastically” larger number of buyers than offers, Pendleton said.

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Overall, Zillow claims that housing construction Market temperature index in America has declined slightly over the past two months after rising steadily since November 2023. In addition, the temperature index has dropped significantly from February 2022 (87.5) to now (58.1).

What does all this mean? Simply put, the real estate market is slowly moving in a direction where it is becoming easier to own property.

Nevertheless, we still have a long way to go.