Article

2020-06-06 Economy

‘Frantic' New Yorkers snatch up unwanted homes in the suburbs

[NYP] They were the castoffs of local real estate — until coronavirus came to call.

Some houses in suburban towns and rural areas outside of New York City sat on the market for years.

But then the pandemic spurred cooped-up urbanites to run for the hills and sparked an uptick in property sales within a few-hour radius of Manhattan. Many say they’ll never return to the city.

In Connecticut, a charming colonial home in Darien lingered on the market for 1,083 days, while a 1980s contemporary in Salisbury ticked over the 1,500-day mark.

But then COVID-19 hit. They went from being the last kids picked on the team to idyllic quarantine dreams.

The four-bedroom colonial at 208 West Ave. in Darien, a tony town near Stamford, listed in September 2018 for $980,000 but drew little interest until March. (Like many houses that linger on the market, it was likely overpriced at the start.)

Then, Halstead agent Cheryl Williams says, she conducted multiple virtual showings before the colonial sold to a young couple for $750,000. They had to cancel their May wedding, Williams adds, "so they decided to buy a house instead."

Posted by Besoeker 2020-06-06 05:49|| || Front Page|| [9 views ] Top

#1 Yes, those who are able are leaving cities. Leaving states with harsh CON virus lock downs. Especially the young people. Watch as their revenues drop and pleading for money. The dead man walking. Zombiefied.

Posted by Dale 2020-06-06 08:08|| 2020-06-06 08:08|| Front Page Top

#2 Rats. Ship.

Posted by Procopius2k 2020-06-06 09:48|| 2020-06-06 09:48|| Front Page Top

#3 Add riots and Democrat mayors. Your results may vary.

Posted by Abu Uluque 2020-06-06 13:37|| 2020-06-06 13:37|| Front Page Top

#4 Well, at that price they are going to know what frantic is at property tax time.

Posted by M. Murcek 2020-06-06 14:03|| 2020-06-06 14:03|| Front Page Top

#5 Well, at that price they are going to know what frantic is at property tax time.

$12,352.50 per year.

Posted by Zhang Fei 2020-06-06 18:17|| 2020-06-06 18:17|| Front Page Top

#6 And they'd best have good homeowners insurance because those taxes don't go to pay for the police to stop looters or arsonists as of a few days ago.

Posted by M. Murcek 2020-06-06 19:09|| 2020-06-06 19:09|| Front Page Top

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