Everything you need to know about upstate New York’s booming housing market

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This article is reprinted by permission from The Escape Home, a newsletter for second homeowners and those who want to be. Subscribe here. © 2021. All rights reserved. 

Living outside of major U.S. cities has become expensive but potentially lucrative for buyers and sellers. One of the hottest real estate markets in the United States right now is upstate New York, which is vaguely defined as towns and suburbs north of the New York metropolitan area. Low mortgage rates and people wanting to escape large cities for quieter, less-crowded towns and neighborhoods have contributed to the boom.

The entire country has had a real estate resurgence, with 94% of metro areas seeing double-digit growth in the second quarter of 2021, according to the National Association of Realtors (NAR). The median sales price of existing single-family homes across the U.S. rose 22.9% to $357,900, an increase of $66,800 from one year ago.

New York City has long had some of…

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