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  • New Yorkers are fleeing to the suburbs: 'The demand is insane'

    New Yorkers are fleeing to the suburbs: 'The demand is insane'

    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.

    H/T: New York Times

    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.

    “The people from New York are coming with a sense of urgency, and the thing they want is space,” said James Hughes, a real estate agent in New Jersey, who added that roughly 60 percent of potential buyers for his properties live in the city. “The demand is insane.”

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